SEBI Recovers Dues Worth Rs 6.57 Crore From Sahara Group Firms, Subrata Roy
NDTV
Sebi in December ordered the attachment of bank and demat accounts of Sahara India Real Estate Corporation (now known as Sahara Commodity Services Corporation), Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava to recover Rs 6.42 crore.
Markets regulator Sebi on Tuesday said it has recovered pending dues worth Rs 6.57 crore from Sahara India Real Estate Corporation, its chief Subrata Roy, and others in the case pertaining to flouting norms in issuance of optionally fully convertible debentures.
"In view of the payment of the amount of Rs 6.57 crore due under the certificate, the said certificate is hereby completed," the Securities and Exchange Board of India (Sebi) said in its recovery order.
The amount included interest and other charges.
The regulator in December ordered the attachment of bank and demat accounts of Sahara India Real Estate Corporation (now known as Sahara Commodity Services Corporation), Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava to recover Rs 6.42 crore for violating regulatory norms in the issuance of OFCDs (Optionally Fully Convertible Debentures). This amount included interest, all costs, charges and expenses.
