Mumbai: Sahara Group chief Subrata Roy and top executives reached Sebi's office to appear before the market regulator in connection with the high-profile refund case involving an estimated Rs 24,000 crore payment to over three crore investors. Sebi had said that if they failed to appear, it would issue orders for the attachment and sale of its assets.
The Supreme Court had ordered Sebi to get Sahara repay its investors Rs 24,000 crore. Meanwhile, the Mumbai Economic Offences Wing has launched a preliminary investigation against the Sahara Group. The probe will focus on whether Sahara is intimidating investors. The Mumbai EOW chief has told CNN-IBN that they have been asked by the Government of India to probe Sahara.
Sebi had summoned Roy and three other directors of two Sahara firms for personal appearance in an order dated March 26. Sebi wants to ascertain details of their personal assets, as also the investments and assets of the companies, to move ahead with sale of immovable assets for realisation of money to be refunded to the investors.
In the same order, the two Sahara firms and their four top executives were also asked to provide details of their assets and investments to the market regulator by April 8. It could not be ascertained whether these details have been furnished before Sebi as per the orders. Roy and others (Ashok Roy Choudhary, Ravi Shankar Dubey and Vandana Bhargava) have been ordered to appear before Sebi's whole-time member
03:14 PM, Apr 10, 2013
Mumbai: The Mumbai Economic Offences Wing has launched a preliminary investigation against the Sahara Group. The probe will focus on whether Sahara is intimidating investors. The Mumbai EOW chief has told CNN-IBN that they have been asked by the Government of India to probe Sahara. This comes even as Sahara group chief Subrata Roy has to appear before market regulator Sebi on Wednesday in the high-profile refund case involving an...
12:26 PM, Apr 10, 2013
Records with the Mumbai Economic Offences Wing accessed by CNN-IBN show a substantial rise in cheat-and-run offences. ...
08:11 PM, Nov 16, 2012
A couple was on Tuesday arrested for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns on their investment through their firm dealing in stock market. ...
11:28 PM, Nov 13, 2012
New Delhi: A Rs 500 crore scam that left over 10,000 investors duped across seven states - the Delhi Police is now planning to approach the Enforcement Directorate and the Serious Fraud Investigation Office (SFIO) to get to the bottom of it. However, people who invested in the firm claim that they were taken in by the promise of quick returns. After being duped, the investors formed a group on...
07:24 PM, Nov 13, 2012
Ratnagiri: A couple has been arrested for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns on their investment through their firm dealing in stock market, police said today. "After a hunt of one year, Ulhas Prabhakar Khaire, 33, a resident of Nagpur, and his 30-year-old wife Raksha J Urs were arrested from Maharashtra's Ratnagiri town on Saturday by the...
07:07 PM, Nov 13, 2012
Lucknow: The Uttar Pradesh Police's Economic Offences Wing on Monday began its probe into the alleged financial irregularities in a trust run by Union Minister Salman Khurshid. It started collecting documents at various levels, "including state, divisional and district headquarters as a part of the investigation", Director General EOW, Subrat Tripathi told PTI. When asked about the details, Tripathi said it was neither a raid nor a search. "How can...
02:15 PM, Oct 15, 2012
Lucknow: The Economic Offences Wing conducted raids on handicap welfare centres in 16 districts of Uttar Pradesh on Monday in connection with the allegations of irregularities in Salman Khurshid's NGO. The EOW of the Uttar Pradesh Police had launched a probe into the matter on Sunday. The probe is being carried out to cross check what the TV Today sting operation says and also the fresh allegations against Salman Khurshid...
12:31 PM, Oct 15, 2012
He was suspended by the Chhattisgarh government on February 10. ...
12:11 PM, Feb 21, 2010
MP DGP is sacked after a case is registered against him for committing fraud in his son's college admission. ...
09:35 PM, Sep 22, 2006
