Supreme Court Judgment in the Sahara Case

The
Supreme Court’s judgment in the Sahara case that was rendered yesterday is
available here.
The court found that the two companies in the Sahara group raised monies in
violation of the corporate and securities laws applicable in India, and ordered
refund of subscription monies along with interest. While the two judges have
delivered separate judgments, the findings of non-compliance seem unequivocal.
We will have the opportunity to analyse this judgment in greater detail on the
Blog in the coming days.

About the author

Umakanth Varottil

Umakanth Varottil is an Associate Professor at the Faculty of Law, National University of Singapore. He specializes in corporate law and governance, mergers and acquisitions and cross-border investments. Prior to his foray into academia, Umakanth was a partner at a pre-eminent law firm in India.

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