Sahara Group's listed companies drop on Sebi order

Tags: Companies
Shares in Sahara Housingfina Corp and Sahara One Media and Entertainment Ltd slump after the SEBI ordered a freeze on the assets and bank accounts of two other companies belonging to Sahara Group.

Although Sahara Housingfina and Sahara One Media were not directly impacted by the order from the Securities and Exchange Board of India (SEBI) late on Wednesday, the two are the only listed companies of Sahara Group.

SEBI on Wednesday ordered the freeze of assets on Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd, saying they failed to heed a Supreme Court order to repay billions of dollars they had collected in outlawed bonds. * SEBI also ordered a freeze on all properties and bank accounts held in the name of Sahara Group's founder Subrata Roy.

Sahara Group in a statement said the SEBI order did not take into account the redemptions it has made since January 2012 and that the liabilities were unlikely to exceed the money it has already deposited with the regulator.

Sahara Housingfina shares ended down 7.1 percent having fallen as much as 19 percent earlier. Sahara One ended up 0.4 percent after falling as much as 4.8 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture