SEBI moves SC for early hearing in PACL realty case
The Securities and Exchange Board of India (SEBI) has moved to the Supreme Court for an early hearing in a seven-year case against realty player PACL India.
The Securities and Exchange Board of India (SEBI) has moved to the Supreme Court for an early hearing in a seven-year case against realty player PACL India.
The police has been asked to verify complaints from Mumbai-based investors against the PACL realty; firm denies any wrongdoing.
Securities Appellate Tribunal (SAT) will take up petitions by two Sahara group companies, Sahara India Real Estate and Sahara Housing Investment Corp, challenging a SEBI order against them, on Tuesday, August 16.
Sahara Group has reportedly filed an appeal before the Securities Appellate Tribunal against the market regulator SEBI order directing the refund of money to investors in its optionally fully convertible debentures.
The Supreme Court on Friday, July 15, directed Sahara Group firm Sahara India Real Estate Corp to approach the Securities Appellate Tribunal against market regulator SEBI’s order directing the return of money collected from investors.
The Supreme Court will today hear the Sahara group firm’s plea against the SEBI order to return the money, along with 15 per cent interest, collected from investors through its Optionally Fully Convertible Debentures scheme.
After Sahara Group firms, another real estate company PACL seems to have violated SEBI regulations.
Sahara Group has moved the Supreme Court against capital market regulator SEBI’s order asking it to return money collected from investors through a scheme along with 15 per cent interest.
Sahara India Group has criticized market regulator SEBI’s move to make its order public when the matter is pending before the Supreme Court.
India’s capital market regulator SEBI on Thursday directed two Sahara group firms to immediately refund the money collected through sales of optionally fully convertible debentures with annual interest of 15%.