Sahara Chief Subrata Roy and two other group directors will have to surrender to custody within a week, with the Supreme Court today terminating the "interim arrangements" of granting parole to them.
Sahara group today appraoched the Supreme Court seeking postponement of the scheduled hearing on April 22 on SEBI's plea seeking its permission to detain Sahara Group's chairman Subrata Roy Sahara.
It is getting really ugly between Securities and Exchange Board of India (Sebi) and Sahara. For Sahara and Subrata Roy the blows just keep on coming.
Woes of Sahara-owned companies appear to be multiplying. The Securities and Exchange Board of India (SEBI) has asked Sahara companies to refund money raised via optionally fully convertible debentures (OFCDs).