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Sebi free to seize properties of Sahara companies for defying court: SC
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https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcShKeXZ-O_7BWo8N7dt04-YxADgFrthX7m1VA8uGIJbztGN4IwSNEW DELHI: In fresh trouble to Sahara group, the Supreme Court on Wednesday said that the Securities and Exchange Board of India (Sebi) is free to freeze accounts and seize properties of its two companies for defying court orders by not refunding Rs 24,000 crore to investors.

The apex court also pulled up Sebi for not taking action against the companies — Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC) — as per its August 31, 2012 order which had asked it to attach properties and freeze bank accounts of the companies.

It issued notice to the group to respond within four weeks why contempt action should not be initiated against the companies for not complying with its order.

Source [timesofindia.com]

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