‘Sahara group can’t collect public funds’

  • PTI, Shimla
  • |
  • Updated: Mar 27, 2013 00:12 IST

In a fresh setback to Sahara, the Himachal Pradesh High Court restrained the Lucknow-based group and its entities from collecting money from the general public through any of the schemes floated by them.

Passing an interim order restraining the Sahara Group Companies from collecting public money, the court said that the matter can be further investigated by banking regulator RBI and capital markets watchdog Sebi.

The order was passed following a PIL against five entities — Sahara India Parivar, Subrata Roy Sahara, Sahara Credit Cooperative Society Limited, Sahara Q Shop Unique Product Range Limited and Sahara Q Gold Mart Limited.

 

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