Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Sebi attaches assets of 2 Sahara firms    </title>
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MUMBAI: Market regulator Sebi on Wednesday cracked down on the retail-to-financial services Sahara group and ordered the attachment of all assets of two Sahara group firms, besides freezing their bank accounts and those of their promoters and..."/>
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MUMBAI: Market regulator Sebi on Wednesday cracked down on the retail-to-financial services Sahara group and ordered the attachment of all assets of two Sahara group firms, besides freezing their bank accounts and those of their promoters and..." />
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                            <div align="justify">-The Times of India<br /><br /><em>MUMBAI: </em>Market regulator Sebi on Wednesday cracked down on the retail-to-financial services Sahara group and ordered the attachment of all assets of two Sahara group firms, besides freezing their bank accounts and those of their promoters and directors including that of group head Subrata Roy.<br /><br />Sebi's crackdown on the two Sahara group firms&mdash;Sahara Housing Investment Corp and Sahara India Real Estate Corp &mdash; comes exactly a week after the Supreme Court criticized the market regulator for delays in acting against these firms that had raised money from three crore investors and failed to refund Rs 24,000 crore along with 15% interest. Passing two separate orders, the market regulator said the two companies had raised Rs 6,380 crore and Rs 19,400 crore respectively from the public and committed &quot;various illegalities&quot; while raising these funds.<br /><br />The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be much higher. This includes Sahara's 1,020 acres of land in Amby Valley near Mumbai.<br /><br />&quot;I direct the freezing of all the bank accounts, demat accounts of Subrata Roy Sahara, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary with immediate effect. I further direct attachment of all movable and immovable properties standing in the names of ...these individuals are restrained from alienating, disposing or in any manner encumbering the movable and immovable properties standing in their individual names,&quot; said Sebi's whole-time member Prashant Saran in the order.<br /><br />Sebi directed them to furnish details of all these properties in their name within 21 days. Besides, Sebi also asked banks to transfer the amounts lying in those accounts to the Sebi-Sahara Refund Account. A copy of the order has been sent to the Reserve Bank of India and the Enforcement Directorate. In a statement later, Sahara said that its total liability is not likely to exceed Rs 5,120 crore, which has already been deposited with Sebi. &quot;Today's order of Sebi for attachment of these assets is based on old facts and details of assets as of January, 2012. Since, then facts have changed in view of redemptions made by Sahara from time to time. This fact of redemption was not known to Sebi. Hence, today's order does not take into account the changed facts and circumstances,&quot; it said. It further said that as per the SC order the the liability to refund the monies is of SIRECL and SHICL. &quot;Hence, attachment, of assets of the individuals by Sebi is incorrect&quot;, the statement said.<br /><br />The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be substantially higher. This includes the attachment of Sahara's prized 1,020 acres of land in Amby Valley near Mumbai, bought for Rs 4,845 crore and 43% of equity shares of Aamby Valley Limited bought for Rs 6,443 crore. Besides, it also includes a 59% stake in the Versova project bought for Rs 3,327 crore, stakes in townships projects and various other land parcels across the country.</div>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms" class="re" target="_blank">The Times of India, 14 February, 2013, http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms</a><div class="clear"></div>
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    <h1 class="cat-box-title">Sebi attaches assets of 2 Sahara firms</h1>
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                            <div align="justify">-The Times of India<br /><br /><em>MUMBAI: </em>Market regulator Sebi on Wednesday cracked down on the retail-to-financial services Sahara group and ordered the attachment of all assets of two Sahara group firms, besides freezing their bank accounts and those of their promoters and directors including that of group head Subrata Roy.<br /><br />Sebi's crackdown on the two Sahara group firms&mdash;Sahara Housing Investment Corp and Sahara India Real Estate Corp &mdash; comes exactly a week after the Supreme Court criticized the market regulator for delays in acting against these firms that had raised money from three crore investors and failed to refund Rs 24,000 crore along with 15% interest. Passing two separate orders, the market regulator said the two companies had raised Rs 6,380 crore and Rs 19,400 crore respectively from the public and committed &quot;various illegalities&quot; while raising these funds.<br /><br />The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be much higher. This includes Sahara's 1,020 acres of land in Amby Valley near Mumbai.<br /><br />&quot;I direct the freezing of all the bank accounts, demat accounts of Subrata Roy Sahara, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary with immediate effect. I further direct attachment of all movable and immovable properties standing in the names of ...these individuals are restrained from alienating, disposing or in any manner encumbering the movable and immovable properties standing in their individual names,&quot; said Sebi's whole-time member Prashant Saran in the order.<br /><br />Sebi directed them to furnish details of all these properties in their name within 21 days. Besides, Sebi also asked banks to transfer the amounts lying in those accounts to the Sebi-Sahara Refund Account. A copy of the order has been sent to the Reserve Bank of India and the Enforcement Directorate. In a statement later, Sahara said that its total liability is not likely to exceed Rs 5,120 crore, which has already been deposited with Sebi. &quot;Today's order of Sebi for attachment of these assets is based on old facts and details of assets as of January, 2012. Since, then facts have changed in view of redemptions made by Sahara from time to time. This fact of redemption was not known to Sebi. Hence, today's order does not take into account the changed facts and circumstances,&quot; it said. It further said that as per the SC order the the liability to refund the monies is of SIRECL and SHICL. &quot;Hence, attachment, of assets of the individuals by Sebi is incorrect&quot;, the statement said.<br /><br />The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be substantially higher. This includes the attachment of Sahara's prized 1,020 acres of land in Amby Valley near Mumbai, bought for Rs 4,845 crore and 43% of equity shares of Aamby Valley Limited bought for Rs 6,443 crore. Besides, it also includes a 59% stake in the Versova project bought for Rs 3,327 crore, stakes in townships projects and various other land parcels across the country.</div>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms" class="re" target="_blank">The Times of India, 14 February, 2013, http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms</a><div class="clear"></div>
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    <h1 class="cat-box-title">Sebi attaches assets of 2 Sahara firms</h1>
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                            <div align="justify">-The Times of India<br /><br /><em>MUMBAI: </em>Market regulator Sebi on Wednesday cracked down on the retail-to-financial services Sahara group and ordered the attachment of all assets of two Sahara group firms, besides freezing their bank accounts and those of their promoters and directors including that of group head Subrata Roy.<br /><br />Sebi's crackdown on the two Sahara group firms&mdash;Sahara Housing Investment Corp and Sahara India Real Estate Corp &mdash; comes exactly a week after the Supreme Court criticized the market regulator for delays in acting against these firms that had raised money from three crore investors and failed to refund Rs 24,000 crore along with 15% interest. Passing two separate orders, the market regulator said the two companies had raised Rs 6,380 crore and Rs 19,400 crore respectively from the public and committed &quot;various illegalities&quot; while raising these funds.<br /><br />The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be much higher. This includes Sahara's 1,020 acres of land in Amby Valley near Mumbai.<br /><br />&quot;I direct the freezing of all the bank accounts, demat accounts of Subrata Roy Sahara, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary with immediate effect. I further direct attachment of all movable and immovable properties standing in the names of ...these individuals are restrained from alienating, disposing or in any manner encumbering the movable and immovable properties standing in their individual names,&quot; said Sebi's whole-time member Prashant Saran in the order.<br /><br />Sebi directed them to furnish details of all these properties in their name within 21 days. Besides, Sebi also asked banks to transfer the amounts lying in those accounts to the Sebi-Sahara Refund Account. A copy of the order has been sent to the Reserve Bank of India and the Enforcement Directorate. In a statement later, Sahara said that its total liability is not likely to exceed Rs 5,120 crore, which has already been deposited with Sebi. &quot;Today's order of Sebi for attachment of these assets is based on old facts and details of assets as of January, 2012. Since, then facts have changed in view of redemptions made by Sahara from time to time. This fact of redemption was not known to Sebi. Hence, today's order does not take into account the changed facts and circumstances,&quot; it said. It further said that as per the SC order the the liability to refund the monies is of SIRECL and SHICL. &quot;Hence, attachment, of assets of the individuals by Sebi is incorrect&quot;, the statement said.<br /><br />The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be substantially higher. This includes the attachment of Sahara's prized 1,020 acres of land in Amby Valley near Mumbai, bought for Rs 4,845 crore and 43% of equity shares of Aamby Valley Limited bought for Rs 6,443 crore. Besides, it also includes a 59% stake in the Versova project bought for Rs 3,327 crore, stakes in townships projects and various other land parcels across the country.</div>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms" class="re" target="_blank">The Times of India, 14 February, 2013, http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms</a><div class="clear"></div>
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                        Indian companies spent only 1.4% on CSR; telecom, media contributions lowest: report -Sourjya Bhowmick                    </a>
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Home हिन्दी

Sebi attaches assets of 2 Sahara firms

Published on Feb 14, 2013   Modified on Feb 14, 2013

-The Times of India MUMBAI: Market regulator Sebi on Wednesday cracked down on the retail-to-financial services Sahara group and ordered the attachment of all assets of two Sahara group firms, besides freezing their bank accounts and those of their promoters and directors including that of group head Subrata Roy. Sebi's crackdown on the two Sahara group firms—Sahara Housing Investment Corp and Sahara India Real Estate Corp — comes exactly a week after the Supreme Court criticized the market regulator for delays in acting against these firms that had raised money from three crore investors and failed to refund Rs 24,000 crore along with 15% interest. Passing two separate orders, the market regulator said the two companies had raised Rs 6,380 crore and Rs 19,400 crore respectively from the public and committed "various illegalities" while raising these funds. The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be much higher. This includes Sahara's 1,020 acres of land in Amby Valley near Mumbai. "I direct the freezing of all the bank accounts, demat accounts of Subrata Roy Sahara, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary with immediate effect. I further direct attachment of all movable and immovable properties standing in the names of ...these individuals are restrained from alienating, disposing or in any manner encumbering the movable and immovable properties standing in their individual names," said Sebi's whole-time member Prashant Saran in the order. Sebi directed them to furnish details of all these properties in their name within 21 days. Besides, Sebi also asked banks to transfer the amounts lying in those accounts to the Sebi-Sahara Refund Account. A copy of the order has been sent to the Reserve Bank of India and the Enforcement Directorate. In a statement later, Sahara said that its total liability is not likely to exceed Rs 5,120 crore, which has already been deposited with Sebi. "Today's order of Sebi for attachment of these assets is based on old facts and details of assets as of January, 2012. Since, then facts have changed in view of redemptions made by Sahara from time to time. This fact of redemption was not known to Sebi. Hence, today's order does not take into account the changed facts and circumstances," it said. It further said that as per the SC order the the liability to refund the monies is of SIRECL and SHICL. "Hence, attachment, of assets of the individuals by Sebi is incorrect", the statement said. The purchase value of the attached properties at cost price is pegged at over Rs 20,000 crore, which would now be substantially higher. This includes the attachment of Sahara's prized 1,020 acres of land in Amby Valley near Mumbai, bought for Rs 4,845 crore and 43% of equity shares of Aamby Valley Limited bought for Rs 6,443 crore. Besides, it also includes a 59% stake in the Versova project bought for Rs 3,327 crore, stakes in townships projects and various other land parcels across the country.

The Times of India, 14 February, 2013, http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-assets-of-2-Sahara-firms/articleshow/18491512.cms

Tagged with: Corporate Governance

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