Sebi can take action against Sahara: SC

The Supreme Court on Friday said Sebi can act against Sahara Group for non-compliance with its directions relating to refund of Rs 24,000 crore raised from investors through optionally fully convertible debentures (OFCDs).

A bench comprising justices K S Radhakrishnan and J S Khehar said Sebi can take action as per law for non-compliance of its order. The market regulator has moved an application alleging that Sahara Group is not complying with the apex court's August 31 directions in which it was also said that the company would provide all information and documents relating to the investors within 10 days.