CURRENT AFFAIRS

Detailed explanation-1: -New Delhi: The Supreme Court has ordered that the Sahara’s luxurious 8, 900-acre Aamby Valley City near Pune be auctioned as the group’s chief Subrata Roy has failed to deposit ₹ 5092.6 crore with markets regulator SEBI to refund investors.

Detailed explanation-2: -Judgment for issue 1– Supreme Court held that SEBI have power to adjudicate and investigate. Also the SC said that according to the SEBI Act, the SEBI has special powers for doing investigation and adjudication to protect the interests of the investors.

Detailed explanation-3: -Sahara India Investors’ Refund Status 2023: On the basis of varied documents, SEBI has finally made refunds for a total of 17, 526 bondholders who were eligible for an aggregate amount of 139.07 crores through NEFT/RTGS (to their respective account no. and IFSC codes provided).

Detailed explanation-4: -The Sahara-SEBI case is the case of the issuance of Optionally Fully Convertible Debentures issued by the two companies of Sahara India Pariwar to which Securities and Exchange Board of India had claimed its jurisdiction and objected on why Sahara has not taken permission from it.

Detailed explanation-5: -As he failed to appear in the court during the ongoing legal battle, Roy was held in custody in the Tihar Jail, Delhi and is now out on parole since May 2016. Sahara was allowed to sell a part of its assets in India to raise part of the money in question.