Sebi quizzes Sa­hara chief, 3 direc­tors

Mkt watch­dog seeks as­sets info; Subrata Roy has ` 3cr only, says com­pany

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - HT Cor­re­spon­dent ht­[email protected]­dus­tan­times.com

MUM­BAI: The Se­cu­ri­ties Ex­change Board of In­dia ( Sebi) on Wed­nes­day ques­tioned Subrata Roy, man­ag­ing worker and chair­man of the Sa­hara Group, and three direc­tors, seek­ing de­tails of their as­sets and bank ac­counts.

“They pre­sented [be­fore Sebi] the de­tails of their per­sonal as­sets. Roy’s per­sonal as­sets were around Rs3 crore only,” a Sa­hara Group press state­ment said.

Sebi had said it would seek the sale of prop­er­ties across the coun­try rang­ing from the posh Aamby Val­ley near Pune to land in Mum­bai, Delhi and Gur­gaon if Roy and direc­tors Van­dana Bhar­gava, Ravi Shanker Dubey and Ashok Roy Choudhary failed to ap­pear be­fore it on April 10.

On Au­gust 31, the Supreme Court had ruled that fi­nance schemes run by Sa­hara Hous­ing In­vest­ment Cor- po­ra­tion Ltd (SHICL) and Sa­hara In­dia Real Es­tate Cor­po­ra­tion Ltd (SIRECL) were il­le­gal and or­dered them to re­pay Rs24,000 crore to mil­lions of in­vestors.

Prop­er­ties of SHICL and SIRECL and the com­pa­nies’ ex­ec­u­tives as well as liq­uid as­sets were or­dered at­tached in Fe­bru­ary af­ter Sebi said the Sa­hara group had de­faulted on two pay­ments to in­vestors.

CON­TIN­UED ON P13

KALPAK PATHAK/ HT

Sa­hara Group chair­man Subrata Roy at Sebi HQ.

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