Saturday, September 1, 2012

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.