Join Hands to Build a Smarter India: Sign in | Join now
News

Biggest Business battles of 2012

By SiliconIndia  |   Friday, 28 December 2012, 04:00 Hrs
28
46
74
14
Print Email


2. SEBI Vs Sahara



Severe jolt to Sahara Group, strict scrutiny of mining activities and scrapping of licenses for 2G spectrum dominated the corporate legal battle in 2012 in the Supreme Court which gave a decisive victory to telecom major Vodafone in an 11,000 crore tax case.



Supreme Court stated the transaction between Vodafone and Hong Kong based Hutchison Group falls out of the tax jurisdiction of the Indian tax authorities.



On other front, it was a lost battle for Sahara Group which on August 31 was directed to refund around 24, 000 crore to their investors within three months with 15 per cent interest per annum.



The apex court said that if the companies Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC) fail to refund the amount then SEBI can attach properties and freeze bank accounts of the companies.



As per an earlier Supreme Court order dated August 31, the two companies were asked to submit the investor documents by November 10, while the money was to be refunded to the investors within three months.



Also Raed: Ratan Tata's Legacy, Cyrus Mistry's Challenge



Experts on SiliconIndia
Pradeep  Kar
Founder
Microland
Gaurav  Taneja
Founder
fabulloso!
Ashish  Abrol
Founder
BigIndianwedding.com
Harsad  Daswani
Founder
The Beach
Vilas  Bhalerao
Sr. Manager
RDC Concrete (India)
Praveen  Bsp
Hardware Engineer
GE HEALTHCARE
Ranjit Singh Thind
English Trainer
LOGOS ENGLISH
Sign Up for DailyDose and Read the Day's Highlights
Write your comment now
 
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved