Sahara India Real Estate Corporation and Sahara Housing Investment Corporation are under the capital market regulator’s scanner for raising money from the public through optionally fully convertible debentures.
A Sebi counsel said the caveat, filed on Saturday, aims to prevent any ex parte decisions (those taken in the absence of one of the parties to a case) on the matter.
Sahara said on Friday it had filed a special leave petition in the Supreme Court seeking relief against the Allahabad high court’s April 7 order vacating a stay on an earlier Sebi direction, which had restrained the two firms from raising money from the public.
“We are law-abiding and we are not accepting deposit,” added the Sahara statement, which was issued after Sebi’s public notice on Friday informing investors about the April 7 ruling.
This is the second time in the last three months that the matter has come up before the apex court.
In January, a Supreme Court bench led by Chief Justice of India S H Kapadia had given permission to Sebi to seek and obtain all information regarding the money-raising activities of the two Sahara group firms.
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