Connect with us


Sahara India: Rs 106 cr refunded to Sahara group investors!



Sahara India Rs 106 cr refunded to Sahara group investors

Over six years in the wake of starting a Supreme Court-checked recuperation and discount process for an expected Rs 25,000 crore gathered by Sahara bunch from about three crore financial specialists, controller SEBI has gotten under 20,000 cases while two-third of them have been discounted an aggregate sum of Rs 106.10 crore. The discounted sum incorporates Rs 56.86 crore of head and Rs 49.24 crore paid as enthusiasm for 13,543 discount cases made by bondholders of two Sahara gathering firms, according to the most recent update from the Securities and Exchange Board of India (SEBI).

The discount has been produced using an uncommon record made by SEBI, to which Sahara was approached to store the cash even as the gathering has kept up that it had straightforwardly discounted in excess of 95 percent of speculators. SEBI said an aggregate amount of Rs 15,438 crore has been recovered so far from Sahara through the various direction of the Supreme Court and the attachment orders issued by the regulator in 2013.

The regulator said Rs 20,173 crore (the recovered amount along with the interest earned on them after providing for refunds made to the investors) was deposited in nationalized banks as on March 31, 2019, as per the Supreme Court order. Giving update in its latest annual report, SEBI said it had received 19,547 applications involving 53,233 accounts as on March 31, 2019, and made refunds with respect to 13,543 applications involving 38,143 accounts for an aggregate amount of Rs 106.10 crore.

While more than 4,000 cases (involving claims totaling Rs 17.3 crore) were pending at SEBI, 254 cases were pending with Sahara (for Rs 71.6 lakh) and over 1,000 cases were pending at the end of investors (over Rs 3.84 crore). A sum of 131 applications has been proclaimed as ‘questioned cases’ and include an aggregate sum of not as much as Rs 50 lakh, while 542 applications looking for a discount of over Rs 1.57 crore have been ‘shut’ after financial specialists neglected to react.

SEBI had requested Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) in 2011 to discount the cash raised from financial specialists through specific bonds known as Optionally Fully Convertible Bonds (OFCDs). After a long procedure of advances and cross-requests, the Supreme Court on August 31, 2012, maintained SEBI’s bearings requesting that the two firms discount the cash gathered from financial specialists with 15 percent premium.

Answering to PTI questions on the most recent update from SEBI, Sahara’s legal counselor Gautam Awasthi said the controller’s yearly report “on a basic level just approves our since a long time ago kept up request that Sahara has as of now reimbursed in excess of 95 percent of around 3 Crore OFCD financial specialists of its two organizations”.

He said it was a case of “double payment” as Sahara first made the repayment to investors and then an equivalent amount was deposited with SEBI.”We have been requesting SEBI to initiate on-ground verification of investors as per the Supreme Court order of 2012, which has not commenced till yet. If verification is done by SEBI, it will come out that most of the investors have already been paid and all this money will come back to Sahara,” Awasthi said.

He claimed that a huge amount of Rs 21,000 crore deposited by Sahara was lying unutilized and idle in banks, which was “not only hurting the interest of Sahara as a business organization but also impeding the economic growth of our country especially in these testing times of economic slowdown and global slump”. The group said that as the country’s second-largest employer after Indian Railways, with 14 lakh workers, has always built it businesses by harnessing human capital spread across India and by giving employment at their doorstep.

It further said the gathering needed to pull back its development designs that required in excess of 4 lakh representatives because of these barricades, yet once the stored cash returns to it, the gathering would re-start the business extension planned for giving work to lakhs in the nation. Awasthi said Sahara has been asserting from the earliest starting point that it has reimbursed the majority of the risk and had it not been valid there would have been an enormous confusion the nation over because of such countless financial specialists.

“Actually, there is certainly not a solitary FIR on this,” he said. The legal counselor additionally guaranteed that SEBI has wouldn’t acknowledge every single unique archive relating to the speculators, their venture and the reimbursements made by Sahara and a huge level of the reports are as yet lying in the gathering’s godown. In its annual report, SEBI said it has been acting in accordance with the directions of the Supreme Court and its actions are overseen by Justice (retd), BN Agrawal. The regulator has filed 20 status reports before the apex court which have also been furnished to Sahara group.

On Sahara group’s luxury resort project, Aamby Valley City, which was earlier proposed to be sold to recover the money, SEBI said the apex court in July 2018 noticed that the property was not in a position to be sold as there had been no response to a notice inviting bids.

SEBI said it issued multiple advertisements inviting refund claims from investors after the Supreme Court in May 2013 asked the regulator to make refunds to all genuine investors who had lodged their claims with it. The last round of commercial was issued on March 26, 2018, giving July 2, 2018, as the last date. Another clarificatory notice was issued on June 19, 2018, to illuminate the bondholders that it was their last and last chance and no further discount cases would be engaged.



UP Police Recruitment 2019: SI’s 5623 vacancies to be released in October



UP Police Recruitment 2019

UP Police SI Recruitment 2019: UPPRPB has said that applications will be sought in October for direct recruitment to 5623 posts of Sub Inspector (SI) in Civil Police. Apart from this, the Tartar Police Recruitment and Promotion Board (UPPRPB) has also told that the result of written examination for recruitment of 49568 posts of police and PAC soldiers will be announced in October next month. In this way, notification of new recruitment, 49568 constable recruitment results and the process of the next phase, all three things will start from October next month.

The board said that online applications were invited for recruitment to a total of 49568 posts, including 31360 posts of soldiers in civilian police and 18208 posts of soldiers in PAC. In this, applications of 19,38,643 candidates were received. The written examination for these posts was conducted on 27 and 28 January 2019. The process for the next phase will be started in October 2019 after declaring its exam results.

Selection will be done
; Successful candidates in the written examination will be called for document examination and physical standard test. Those who are also successful in this will be called for Physical Efficiency Test (PET).
– The special thing about this recruitment is that it is direct recruitment and there will be no interview.
According to the notification released earlier, the final result can be announced in the third week of June 2019.
– Final merit list will be drawn on the basis of marks obtained in the written examination.
– There will be no interview in this recruitment.

In November 2018, UPPRP had taken out 49,568 recruitments for police and PAC. Among these were 31360 of Reserve Civil Police and 18208 vacancies of Reserve Territorial Armed Constabulary.

Results of recruitment for 666 posts of Computer Operator Grade-A backlog declared
Meanwhile, UPPRPB declared  ‘Direct Recruitment (Special Selection) -2017 Selection Results for Backlog Posts of Computer Operator Grade-A in Uttar Pradesh Police’ on 20 September. This recruitment was done on 666 posts.

Continue Reading


Pen Pulikali in Thrissur: Here is the Details of Rocking Pulikali Girl Parvathy Nair!



Pen Pulikali in Thrissur

Pulikali Is An Traditional Art From Kerala. As part of the end of the Onam celebrations, women dancers participated in ‘Pulikali’ (Tiger-themed dance) in Thrissur district of Kerala. It is performed by trained artists to entertain people on the occasion of Onam, an annual harvest festival, celebrated mainly in Kerala.

Pulikali Girl Parvathy Nair

Pulikali Girl Parvathy Nair

A Cute Girl From Kerala Performing PuliKali is Viral in Social Media. Parvathy Nair is the Web sensational girl from Kerala. Her Rocking Performance was the centre of attraction of Pulikali in Trissur. She got lots of fans from her dance. Here is the Complete Details about Rocking Pulikali Artist Parvathy Nair.

Watch Video

Source: Jango Space TV

Continue Reading


Defense Minister Rajnath Singh fills in indigenous ‘Tejas’



Defense Minister Rajnath Singh fills in indigenous 'Tejas'

Defense Minister Rajnath Singh flew from Hindustan Aeronautics Limited airport in Bangalore on Thursday morning from a Tejas fighter plane in Hindustani. He is the first defense minister to board an indigenous Tejas fighter jet. Rajnath Singh spent half an hour on the plane. Tejas is produced by Hindustan Aeronautics Limited, an Indian company.

Tejas is a fighter jet that entered the Air Force three years ago. Tejas will be coming soon with an updated version. Hindustan Aeronautics Limited will be producing three Tejas planes and will provide funds of Rs.

Tejas is definitely comfortable. I enjoyed the trip in Tejas. India can now export fighter jets worldwide. India has reached that height. I congratulate HAL (Hindustan Aeronautics Limited), DRDO and related organizations on this, “Rajnath Singh said after the Tejas flight.

Tejas Features – Tejas can shoot missiles from the air as well as from the air to the ground. It also has the ability to use bombs and rockets. Made of 5 percent carbon fiber, 3 percent aluminum and titanium, Only one pilot can fit in Tejas. The Tejas have two seats for training. In particular, Tejas can fly up to 4,000 feet above the ground.

Continue Reading


Vegetable, Retail inflation Vegetable, Retail inflation
Market Updates6 mins ago

Vegetable prices decline by almost 39% on increase in new season harvests

Prices of green vegetables have declined by up to 39 per cent in the past three weeks...

Film News13 mins ago

Yes, Knives Out Is Technically A Star Wars Crossover

Rather than immediately jump back into the Star Wars universe after delivering The Last Jedi to the masses at the...

Film News20 mins ago

Half of The Suicide Squad Cast Unite in First Production Photo Shared by James Gunn

Some of The Suicide Squad cast united with James Gunn over the weekend. The director posted a picture of himself...

Film News43 mins ago

Former Disney Artist Imagines What The X-Men Could Look Like In The MCU

Marvel Comics has countless beloved characters on their pages, although some have been able to stand out as fan favorites....

Merchant mining leases lapsing by March 2020 may get three-year extension Merchant mining leases lapsing by March 2020 may get three-year extension
Market Updates49 mins ago

Here’s why cut in corporate taxes failed to cheer the mining sector

The government’s latest move to pare corporation taxes has failed to perk up the mining sector already...

Film News59 mins ago

The Shining 4K Restoration Is Coming to Theaters Ahead of Doctor Sleep

Horror fans have reason to celebrate, as The Shining is heading back to theaters in its newly restored, 4K version....

Film News1 hour ago

How Hollywood Has Reacted To Sid Haig’s Death

Last night, the Emmys honored those industry figures that passed away over the last year in the In Memoriam segment,...

ZEE appoints Animesh Kumar as chief people officer ZEE appoints Animesh Kumar as chief people officer
Market Updates2 hours ago

Debenture trustee sells Rs 200 crore of Zee Entertainment shares

Catalyst Trusteeship, acting on behalf of one or few debenture holders, sold Rs 204 crore worth of...

Film News2 hours ago

Bill Murray Spotted Near Ghostbusters 2020 Set with Dan Aykroyd & Sigourney Weaver

Video footage of Bill Murray near the Ghostbusters 2020 set in Calgary has been revealed. Fans of the Ghostbusters franchise...

Film News2 hours ago

Walt Disney World Fans’ Petition To Keep PhotoPass Photographers Goes Viral

A vacation at Walt Disney World is potentially the trip of a lifetime. For many of the theme parks’ guests,...