Sebi orders Sahara MF to surrender licence by August

SEBI asks Sahara MF to give up licence by Aug. The Securities and Exchange Board of India (SEBI) has directed Sahara Mutual Fund to surrender its certificate of registration by August 27 while winding up all but one of its schemes — Sahara Tax Gain Fund — by April 21. In an order by whole-time member G. Mahalingam, the capital markets regulator said the deadline had been set keeping in mind the interest of the investors of tax gain fund.