business-india-news

Supreme Court notice to Sahara firms on SEBI's contempt plea

New Delhi, July 24 : The Supreme Court Wednesday issued notice to Sahara group's two real estate companies on a petition by the Securities and Exchange Board of India seeking contempt proceedings against them for their failure to comply with Dec 5, 2012 order of the court.


The apex court Dec 5, 2012 order asked the market regulator to accept Sahara's pay order of Rs.5,120 crore as a part-payment of the investors' money that Sahara India Real Estate Corp and Sahara Housing Investment Corp had collected through optionally fully-convertible debentures.

This is the second contempt petition that the market regulator has filed against the Sahara group's real estate companies.

The apex court in its order said that Sahara would deposit Rs.10,000 crore in the first week of January and the balance amount in the first week of February.

--IANS (Posted on 24-07-2013)

business-india-news headlines

Reliance rubber unit sets up customer support in Vadodara

India's GDP quadrupled in 10 years under UPA: Anand Sharma

Pay outstanding salaries to pilots: High Court to Kingfisher

India's forex reserves rise to $309.44 bn

Reliance Industries sees net profit of Rs.21,984 crore in 2013-14

Wipro Q4 profit rises by 29 percent, beats analyst estimates

Trade, commerce to drive India-US ties: Narendra Modi

PepsiCo launches free talk time offer

TCS, Twitter launch app to track Indian Elections

India's software market grew at 10pc in 2013: Research

Anand Mahindra, Banmali Agrawala, Ellen Lord named USIBC directors

Sigvaris appoints NovoMed as distributor in India

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top