Sebi has said the plea against order of refund is still pending before the SC and there hasn't been any action by the company despite the order being upheld by the Securities Appellate Tribunal (SAT).
During October 2006 and April 2008 period, Parsvnath had paid Rs 516.53 crore to CHB as bid price towards the part consideration payable for the right to develop 123.79 acre project located at Rajiv Gandhi Technology Park
The lawyers, as sources say, will first submit legal proposals to SC for investors‘ repayment and will then seek to release Sahara supremo Subrata Roy who is currently in judicial custody.
Hours after the Supreme Court directed Sahara Group to make payment of Rs 24,000 crore to its investors within nine weeks, the company said it was ready to pay as per the directives.
Wind turbine maker Suzlon Energy on Friday said it is in advanced stages to raise up to USD 300 million from new facilities to meet its FCCB (foreign currency convertible bonds) obligations in June.