In order to collect 6.42 crore in relation to the issuing of optionally fully convertible debentures, the market regulator SEBI has ordered the attachment of the Sahara Group company’s bank and demat accounts, as well as those of its CEO Subrata Roy and others (OFCDs).
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The SEBI stated in a statement on Monday that the proceedings against Sahara India Real Estate Corporation, Sahara Roy, Ashok Roy Choudhary, Ravi Shanker Dubey, and Vandana Bharrgava included interest, all costs, charges, and expenditures.
Additionally, the Securities and Exchange Board of India (SEBI) mandated the attachment of Sahara India Real Estate Corp., Subrata Roy, Ashok Roy Choudhary, Dubey, and Bharrgava’s mutual funds and all of their demat accounts.
Until further notice, it further stated that no debits could be made to the aforementioned accounts. Credits into the accounts, if any, might be permitted, though.
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The regulator fined Sahara India Real Estate Corp, Subrata Roy, Ashok Roy Choudhary, Dubey, and Bharrgava a total of 6 crore in its order from June.
