SEBI has gone beyond SC order, says Sahara Boss Roy
[Editor: Ignore the "Hysterical Rants" of the interviewer Shereen Bhan-- it seems she did not do adequate research before questioning Mr.Subrata Roy]
The row between Sahara Group and market regulator
Securities and Exchange Board of India (SEBI) is likely to get even
nastier as Group Chief Subrata Roy is calling market regulator's action
against the group an act of personal vengeance.
Playing a victim, Subrata Roy minced no words in criticizing the market
regulator in an exclusive interview to CNBC-TV18 where he claimed that
SEBI was making up stories without checking facts. He even went on to
say that SEBI had gone beyond Supreme Court's order and was breaking all
rules and law.
In February, SEBI had ordered a freeze on the assets and bank accounts
of the two Sahara group companies namely Sahara India Real Estate
Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC).
Roy said that many other government investing agencies were activated against the group and hinted that there were political motives behind actions of Reserve Bank of India and SEBI. He promised to come out with the truth and proofs of vengeance against the group at the right time.
Now, the Securities Appellate Tribunal (SAT) is scheduled to hear
Subarta Roy’s appeal against a previous SEBI order for attachment of its
bank accounts, assets and investments on April 13.
Courtesy: Money Control