Sahara Group has reportedly filed an appeal before the Securities Appellate Tribunal (SAT) against the market regulator, Securities and Exchange Board of India’s (SEBI) order directing the refund of money to investors in its optionally fully convertible debentures (OFCD) on Friday, August 5.
The Sahara move follows an earlier Supreme Court directive issued on July 15, 2011 asking the two Sahara Group firms (Sahara India Real Estate and Sahara Housing Investment) to approach SAT within a period of three weeks.
