Sahara India Financial Corporation Limited

SAT-appeal

• SEBI orders on approval of One Life Capital Advisors as sponsor of Sahara Mutual Fund via 100% acquisition of Sahara AMC; merits not examined.
  One Life Capital Advisors to make fresh application for SEBI approval as sponsor via 100% equity purchase of Sahara AMC · SEBI to consider fresh application on merits and in accordance with law if filed on or before May 10, 2018
  Appeal: Appeal No.127 of 2018 and Appeal No.128 of 2018 disposed on 03.05.2018 with no order as to costs
• Sahara Sponsor/AMC/Mutual Fund no longer fit and proper because Promoter-Director Mr. Subrata Roy Sahara is not fit and proper after OFCD refund violations and detention orders.
  WTM order dated 28.07.2015 cancelled certificate of registration of Sahara Mutual Fund with consequential transitional directions (under challenge in appeal)
  Appeal: Appeal No. 428 of 2015 with Misc. Application No. 188 of 2017 - reserved 27.06.2017, decided 28.07.2017
• SEBI approval for One Life Capital Advisors to become sponsor by purchasing 100% equity of Sahara AMC; impugned SEBI orders had not gone into merits.
  One Life Capital Advisors to make fresh application for SEBI approval as sponsor via 100% equity purchase of Sahara AMC · SEBI to consider fresh application on merits and in accordance with law
  Appeal: Appeal Nos. 127 of 2018 and 128 of 2018 disposed of on 03.05.2018 with no order as to costs