Published Jun 12 2012 by

Sahara firm bypassed norms to raise funds, SC told

New Delhi, June 12 - The SEBI Tuesday told the Supreme Court that the real estate arm of the Sahara group of companies had no right to mobilise Rs. 27,000 crore from 30 million investors through debentures without complying with the regulatory regime.

The Securities and Exchange Board of India (SEBI) said the company raised the money through...

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"The fact which needs more attention is that this massive mobilisation was made outside the well developed investor protection framework developed by the SEBI" Datar said

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