Search Results for: Edelweiss Securities

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Subrata Roy challenges Indian regulators to prove legal lapses against group

Kolkata, Nov 30 (ANI): Chief of Sahara conglomerate, Subrata Roy has said that he is ready to face challenges posed by the entire country to come clean on the valuation of its properties or liabilities to government regulatory bodies. Addressing a conference in Kolkata, Roy said that he is ready to be hanged if anyone can prove the charges against his group. Often dubbed as a billionaire by the Indian media, the Sahara chief had earlier been locked in a battle with the market regulator, Securities and Exchange Board of India (SEBI), over a bond scheme that the apex court deemed to be illegal, and was ordered by the regulator to provide details of his personal assets and two Sahara companies. Earlier this week, the apex court had barred Roy from leaving the country. His group had also been forbidden from selling any of its properties till the time the group would provide necessary documents to SEBI. Nov 30, 2013
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SC orders Sahara Group to hand over Rs.20, 000 crores worth of property title deeds

New Delhi, Oct 29 (ANI): The Sahara Group has been ordered by the Supreme Court to hand over title deeds of properties worth Rs.20,000 crore to the Securities and Exchange Board of India (SEBI) after hearing three contempt of court petitions filed by SEBI against the group's owner Subrata Roy. An apex court bench headed by Justices K. S. Radhakrishnan and J. S. Khehar warned Roy that he would not be permitted to go abroad till the title deeds of the properties are handed over. The court has given Roy three weeks to comply with its latest order. The case against Roy relates to him failing to deposit money belonging to Sahara investors' with the SEBI. The contempt petitions filed by SEBI are related to Sahara firms-Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) - and their directors. Oct 29, 2013
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SEBI to formulate rules for disclosures to curb errant trading: UK Sinha

New Delhi, Oct 10 (ANI): The country's capital markets regulator, Securities and Exchange Board of India (SEBI) is all set to formulate a new set of rules vis-a-vis disclosures by listed companies to curb errant trading of scripts such as insider trading and over or under rated deals. SEBI Chairman UK Sinha stated this in New Delhi on Thursday. He was speaking to the mediapersons on the sidelines of an event hosted by the PHD Chamber of Commerce and Industry. India, at present does not have any formal rules meant for dealing with the annulment of trades. Instead, stock exchanges across the country have devised their own guidelines. Recently, the SEBI took several measures to protect the interest of the investors. Oct 10, 2013
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