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Sahara realty firms' intention shady: SC

Monday December 03, 2012 07:17:54 PM, IANS

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The Supreme Court Friday told market regulator SEBI that it was free to initiate action against two real estate companies of the Sahara group if they fail to take steps for the refund of investors'  »

Return Rs.17,400 crore to investors, Surpeme Court tells Sahara

New Delhi: The Supreme Court Monday lashed out at Sahara group's real estate companies saying their conduct was "shady" in the matter of returning the investors' money mopped up under optionally fully convertible debentures scheme.

"You have no intention of returning (the investors' money). Your intentions are shady," said the apex court bench of Chief Justice Altamas Kabir, Justice S.S. Nijjar and Justice J. Chelameswar.

The Sahara India Real Estate Corporation and Sahara Housing Investment Corporation have challenged in the court an order issued by the Securities Appellate Tribunal.




 

 

 

 


 

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