SEBI has frozen the assets and bank accounts of Sahara group firms, affecting key real estate projects including Aamby Valley due to compliance failures with a Supreme Court order.
The Supreme Court granted Sahara Real Estate Firms an extension to pay their fine, directing SEBI to accept the application. The firms were initially ordered to refund money collected through debentures to investors.
The Supreme Court of India criticizes SEBI for failing to take legal action against the Sahara Group for not complying with an order to produce investment documents.