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Documents citing Sahara Asset Management Company P. Ltd. ... vs Sebi on 28 July, 2017

Sahara Asset Management Company ... vs Sebi on 31 October, 2017

3. This Appellate Tribunal had considered all the relevant facts relating to the ownership and control of the appellant company by Shri Subrata Roy Sahara, other promoter holding in the appellant company etc. while deciding Appeal No. 428 of 2015 on July 28, 2017. In that order, on examination of complete details, we came to the conclusion that Shri Sahara, irrespective of whether he continues to be a Director or not in the appellant company, continues to hold substantial stake in the appellant company as well as in other promoter group companies of the appellant and exerts absolute control 4 over these entities by virtue of his ownership and hence the appellant company (who was the appellant in Appeal No. 428 of 2015 as well) is not a fit and proper person to hold a mutual fund license. The said decision of this Appellate Tribunal has been upheld by the Hon'ble Supreme Court on October 23, 2017 in the matter of Sahara Asset Management Company P. Ltd. & Ors. vs. Securities and Exchange Board of India & Ors. (Civil Appeal No. 12854 of 2017).
Securities Appellate Tribunal Cites 1 - Cited by 0 - J P Devadhar - Full Document
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