ED registers money laundering case against Sahara
14 Nov 2014 5:33 AM IST
Enforcement Directorate (ED) has registered a money laundering case against Sahara group in connection with non-payment of crores of rupees to depositors as probed by capital markets regulator SEBI.
The criminal case was registered by the Mumbai zonal office of the agency after it got reports in this regard from the Securities and Exchange Board of India, official sources said.
‘A case under the Prevention of Money Laundering Act has been registered against Sahara group. The investigations are in progress,’ they said.
Emails sent to Sahara group to elicit their response in this regard did not fructify.
Sahara group chief Subrata Roy was jailed in March amid a long-running dispute of his group with SEBI over repayment of over Rs 20,000 crore to investors.
The criminal case was registered by the Mumbai zonal office of the agency after it got reports in this regard from the Securities and Exchange Board of India, official sources said.
‘A case under the Prevention of Money Laundering Act has been registered against Sahara group. The investigations are in progress,’ they said.
Emails sent to Sahara group to elicit their response in this regard did not fructify.
Sahara group chief Subrata Roy was jailed in March amid a long-running dispute of his group with SEBI over repayment of over Rs 20,000 crore to investors.
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