SEBI wants Sahara Group’s Chairman Passport to be impounded
It has been recently revealed that SEBI has demanded the detention of Sahara group Chairman- Subrata Roy. SEBI said that Sahara Group has not followed the ruling of the Supreme Court and henceforth, Roy should be detained.
It seems that SEBI has been making all the possible efforts to make sure that the Sahara Group complies with the ruling of the apex court that was announced on August 31. Recently, SEBI has filed a petition in the apex court in which it has demanded five things.
To cite some of the five things, SEBI has asked that it should be allowed to refund money of genuine investors and even before Sahara deposits an entire amount which is more than 20,000 crore rupees.
SEBI wants that freedom should be given to them so that they can appoint a special officer who can supervise the sale of properties that belong to Sahara. One of the other demands of SEBI is that Subrata Roy's passport as well as of directors of Sahara should be taken from them and be impounded.
On the other hand, Sahara said, "There cannot be (even) one fictitious investor. and our workers know each and every investor. It is high time, in the interest of investors, Sebi should also give us chance".