 "Sebi")
The Securities and Exchange Board of India (Sebi) on Tuesday reaffirmed its ruling in the Sahara India Commercial Corporation (SICCL) case, which had directed legal representatives of late Y N Saxena to refund investors.
Saxena was SICCL’s director from December 1998 to November 2012. The order relates to SICCL collecting funds to the tune of Rs 14,106 crore between 1998 and 2009 from nearly 20 million investors through bonds — optionally fully convertible debentures (OFCDs).
Sebi had, in October 2018, ordered the firm and its directors including Subrata Roy, O P Shrivastava, J B Roy, A S Rao,
Saxena was SICCL’s director from December 1998 to November 2012. The order relates to SICCL collecting funds to the tune of Rs 14,106 crore between 1998 and 2009 from nearly 20 million investors through bonds — optionally fully convertible debentures (OFCDs).
Sebi had, in October 2018, ordered the firm and its directors including Subrata Roy, O P Shrivastava, J B Roy, A S Rao,
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