Sebi issues notice to attach bank accounts of Subrata Roy Sahara


The Securities and Exchange Board of India (Sebi) has issued a notice attaching the bank accounts, lockers, demat accounts, and mutual fund folios of two firms, its chief and three others.

The notice has been issued for non-payment of dues amounting to Rs 6.42 crore levied for flouting regulatory norms. Following a notice on December 7 for recovery of the dues, the capital market regulator had given 15 days’ time to the defaulters to pay the dues to avoid attachment of accounts.

In its order dated June 27, had penalized Sahara India Real Estate Corporation, Sahara Housing Investment, Subrata Roy Sahara, Ashok Roy Chaudhary, Ravi Shankar Dubey, and Vandana Bharrgava for violation in the issue of Optionally Fully Convertible Debentures (OFCDs). The penalty imposed is Rs six crore and the due amount includes interest and recovery cost.


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