Sahara group chairman and managing worker Subrata Roy said in an advertisement that he will not leave the country, two days after the market regulator Securities Exchange Board of India moved the Supreme Court seeking his and two of his company directors’ detention.
“I wonder why Sebi is talking about my detention. I would like to clarify that even if Sebi intends to force me out of the country, they are never going to succeed. I can never think of that. I love my country and I will always live in my country with dignity and respect, till my last breath,” said the advertisement, signed by Roy. Roy also invited Sebi to a live debate on television. “I hereby challenge SEBI chairman UK Sinha and his executive directors for a live debate with me on any television channel, the advertisement said.
“Let people know their wrong intent and deed as a corporate regulator, and clearly understand what extreme degree of injustice is being done by them to malign the image of Sahara India Pariwar” it added.
On Friday, Sebi sought the Supreme Court’s approval to appoint an officer on special duty to recover the money owed to investors by selling Sahara assets attached so far. Further, it asked the court to direct the promoter and three directors (including a woman director) to surrender their passports to the top court and not leave the country. The Supreme Court may hear the case in April first week.
The Sahara chief has asked Sebi for ten days’ notice to organise a one-hour debate on a television channel with Sebi officials. However, he said, the Sebi chairman had not entertained his request for an appointment. “I myself will sit to expose the truth,” Roy said in the media advertisement.
2 comments:
As a investor myself,the question which amazes me is how can Sebi state through a letter to RoC that an entity is not under it and RoC should take action, but after seven months contradict itself and issue prohibitory orders against the same entity saying it was under its purview and not the nodal ministry for RoC?
SEBI is trying to build a cloud of negativity against Sahara by resurfacing their baseless allegations. Sahara India Pariwar gave a unique opportunity to gather the people of India and sing the National Anthem in one Voice. It was an initiative inclined towards the group's patriotic feelings towards the country.
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