SEBI orders attachment of bank, demat accounts of Sahara firm, Subrata Roy

ANI | | Posted by Singh Rahul Sunilkumar

Markets regulator SEBI has ordered the attachment of bank and demat accounts of the Sahara Group firm, its chief Subrata Roy and others to recover 6.42 crore in the matter of violating norms in the issuance of optionally fully convertible debentures (OFCDs).

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 expenses, the SEBI said in a statement on Monday.

The Securities and Exchange Board of India (SEBI) also ordered to attach all demat accounts, the mutual funds of the accounts of Sahara India Real Estate Corp, Subrata Roy, Ashok Roy Choudhary, Dubey and Bharrgava. It also said no debit shall be made in the said accounts until further notice. However, credits, if any, into the accounts may be allowed.

In its order in June, the regulator levied a penalty totalling 6 crore on Sahara India Real Estate Corp, Subrata Roy, Ashok Roy Choudhary, Dubey and Bharrgava.


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