SAT stays order against Sahara MF

Embattled Sahara Group said on Friday that the Securities Appellate Tribunal (SAT) had stayed a SEBI order directing Sahara Mutual Fund to wind up its schemes. The next hearing will be on April 26, Sahara Group said in a statement. In an order passed last week, SEBI had asked Sahara MF to wind up all its schemes. All schemes, except one, had to be wound up by April 21. However, the fund house was allowed to continue its Sahara Tax Gain Fund till July 27, but without accepting any new investor.