Sahara slams Sebi for going public with order
The Sahara group on Friday came down on Securities and Exchange Board of Indias order against it to refund the investors money as the matter is sub-judice and the Supreme Court had earlier ruled that the Sebi order will be given effect only subject to the directions of the SC. For a regulator where the matter is sub-judice,media trial is not warranted and not expected from the Sebi as is being done in this case. It was expected to simply place the order before the Supreme Court and maintain the sanctity of the order passed by the Supreme court, it said in a statement. Sahara said Sebi has been vindictive and malicious towards the Sahara group and this has been apparent from a chain of events in the last one and a half years. In an order issued on Thursday,the Sebi had ordered Sahara India Real Estate Corporation Limited (SIRECL) now known as Sahara Commodity Services Corporation Limited and Sahara Housing Investment Corporation Limited (SHICL) to refund money collected through the optionally fully convertible debenture (OFCD) route with 15% interest.