SEBI Freezes Sahara's Bank Accounts

Prashant Saran, SEBI Member said: "I direct the freezing of all the bank accounts, demat accounts of Subrata Roy Sahara, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary with immediate effect. I further direct attachment of all movable and immovable properties standing in the names of ...these individuals are restrained from alienating, disposing or in any manner encumbering the movable and immovable properties standing in their individual names,"

SEBI has also asked the banks to transfer all the available amounts in Sahara’s accounts into the ‘Sebi-Sahara Refund Account’.

In reply to this, a statement was made by the Sahara stating that their total responsibility does not exceed 5,120 crore and they have already paid this amount to SEBI.

The report also claimed the estimation of SEBI to be wrong and not updated with the current situations.

SEBI has asked the Sahara Group to submit enough credentials to prove all these proclamations within 21 days.

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