
New Delhi: The Sahara Group found itself in trouble on Saturday after market regulator Securities and Exchange Board of India (SEBI) issued a public warning to bond holders of two of its companies. The notice said that SEBI had received complaints from investors that they were being forced by Sahara agents to forcefully switch to some of its other schemes like the retail scheme Sahara Q Shop.
The notice further asked bondholders to hold on to the original documents relating to investment in bonds. It also asked the bond holders not to yield to pressure from Sahara or its agents to switch schemes.
Sahara has until the end of November to refund money received from investors and furnish documents to SEBI. Below is the full text of the notice by SEBI.
ATTENTION!! BOND HOLDERS OF THE TWO SAHARA COMPANIES...
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12:24 PM, Oct 27, 2012

New Delhi: Subrata Roy-promoted Sahara Group announced its foray into retail business, to supply a comprehensive range of consumer products. "The company has made an initial allocation of Rs 3,000 crore towards this business. We will invest according to the need as we go ahead," Sahara India Pariwar Chairman Subrata Roy said. The range comprising 1700 products will be distributed through direct-to-home mode. Christened Sahara Q Shop, the first phase...

03:26 PM, Aug 14, 2012