Sebi issues notice demanding Rs 6.42 crore to Sahara Group

8 Dec 2022 , 07:20 AM

The Sahara Group company, its CEO, Subrata Roy, and others received a notification from Sebi asking that they pay Rs 6.42 crore within 15 days in relation to a matter involving the violation of regulatory standards.

Sebi also threatened to seize their property and bank accounts if they did not make the payment.

The notice was issued after the firms failed to pay the fine levied by the Securities and Exchange Board of India (Sebi).

Five entities–SSahara India Real Estate Corporation (now known as Sahara Commodity Services Corporation), Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey, and Vandana Bharrgava–wwere fined a total of Rs 6 crore by the regulator in June for breaking regulatory rules when they issued optionally fully convertible debentures (OFCDs).