Sahara Group conglomerate’s founder Subrata Roy died at the age of 75. Sebi-Sahara, a long pending standing case had been underway, even though the founder is no more the case is to be continued.
On Thursday, Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch said that the market regulator will continue its pursuit despite the founder is alive or not.
According to the sources, The Sebi-Sahara is a case involving allegations of financial irregularities and violations of securities laws by two Sahara Group entities – Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL).
Since 2008 Sebi has been investigating into the matter and said they shall continue the matter.
