Supreme Court’s judgment in the Sahara case that was rendered yesterday is
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.