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    SEBI warns investors on Sahara OFCDs issue

    SEBI has issued a public notice on the ongoing Sahara case as per the oral directions given by the Supreme Court. The market regulator has warned investors that Sahara has not filed any offer document nor has complied with SEBI with respect to filing of DRHP which has not be vetted by SEBI.

    January 07, 2011 / 18:02 IST

    The Securities and Exchange Board of India (SEBI) has issued a public notice on the ongoing Sahara case as per the oral directions given by the Supreme Court. The market regulator has warned investors that Sahara has not filed any offer document nor has complied with SEBI with respect to filing of red herring prospectus (DRHP) which has not be vetted by SEBI.


    SEBI says the OFCDs are not proposed to be listed on the stock exchanges and in view of this the regulator will not be able to provide redress to any investor who invests in these OFCDs. Hence it asks investors to make their own investment decisions in OFCDs of these two Sahara companies.

    OFCD is a debt instrument that can be converted into equity at the holder's option as per the terms of the offer.

    first published: Jan 7, 2011 05:59 pm

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