Sebi extends Sahara MF deadline to July 27 to wind up all its schemes

In 2015, Sebi had directed cancellation of Sahara MF's certificate of registration on expiry of a six-month period from the date of order

The Securities and Exchange Board of India (Sebi) extended its earlier deadline of April 21 for Sahara Mutual Fund (MF) to wind up all its schemes, allowing it to continue with its tax saving Sahara Tax Gain Fund till July 27. 

Last year, it had instructed Sahara MF to strictly comply with the timelines specified in its order dated July 28, 2015. This became effective from October 23, 2017. Sahara MF had asked Sebi to extend the timeline, citing the three years of lock-in period at Sahara Tax Gain Fund. The fund house said there were 748 investors and redemption was