Sahara India has accused market regulator SEBI of not accepting data, since Monday, of the three crore investors of the company who had invested in its optionally fully convertible debentures (OFCDs). Sahara sent the data to SEBI following a Supreme Court order to furnish documents relating to investors, supporting redemption documents, application forms, approval and allotment of bonds to the market regulator.
The apex court on August 31 had directed two Sahara group companies-Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHICL)-to furnish data of around three crore OFCD investors, who had invested about Rs 17,400 crore in these two companies, to the market regulator.
A truck carrying a voluminous data in about 30 crore pages reached SEBI office on Monday evening at 7.30 pm but was denied entry by SEBI officials, who refused to take delivery of the documents on Tuesday morning, said a Sahara statement. It added that a company representative was detained by SEBI till 7.30pm on Monday evening unless he accepted a SEBI letter, proposed to be addressed to Sahara. SEBI could not be reached for a comment.
” SEBI is acting with vengeance…Such an attitude is questionable from a respectable regulator like SEBI,” said the Sahara statement, adding that SEBI is not co-operating as the documents are being delivered in parts and is instead asking for original vouchers.
