Big setback for Subrata Roy led Sahara over Rs 14,000 cr case; what Sebi ordered
Sebi found that Sahara India Commercial Corporation (SICCL) had made an offer of OFCDs in financial years 1998-2009 and raised an amount of at least Rs 14,106 crore from 1,98,39,939 investors. The regulator, in 2011, already ordered two Sahara group firms -- Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) -- to refund the money raised from investors through OFCD route.
Sebi has asked Sahara India Commercial Corporation, Subrata Roy and the company's other former directors to return over Rs 14,000 crore raised from millions of investors. Image source: Reuters