Market regulator Securities and Exchange Board of India, SEBI has moved Supreme Court over Sahara's failure to sell properties to repay investors. In its petition, the market regulator said it has received complaints from buyers that Sahara is not interested in selling its properties.SEBI appealed to the court to direct Sahara to reveal all the offers it has received about property sale and explain why it had not acted upon them. The market regulator also submitted that court should pass order for selling off Sahara's properties to raise the amount.The Supreme Court in August had allowed Sahara chief Mr Subrata Roy and two of his group directors to use the conference room inside the Tihar Jail complex to negotiate the sale of properties. Sahara had sought to sell its properties to raise the Rs 10,000 crore bail money for Mr Roy.
News On AIR | October 30, 2014 8:13 PM
SEBI moves SC over Sahara's failure to sell properties