Sahara case: SEBI to meet banks, KRAs today

The Securities and Exchange Board of India (SEBI) will meet on Wednesday the public sector banks and KYC Registration Agencies (KRAs) interested in serving as its In-Person Verification (IPV) agency and interact “face-to-face” with all investors in the high-profile Sahara case to ascertain their genuineness. SEBI has been mandated by the Supreme Court to facilitate refund of Rs.24,0000000000 with 15% annual interest to bondholders of two Sahara group firms after ascertaining their genuineness. In this regard, SEBI has invited bids from public sector banks and KRAs (KYC Registration Agencies) to act as its IPV Agency in the matter. SEBI will hold its pre-bid meeting with the interested parties on Wednesday at its headquarters in Mumbai to acquaint them with the nature of work and related issues. — PTI