Subrata Roy

Sahara Group founder Subrata Roy's death last week brought to focus the undistributed funds of over Rs 25,000 crore lying with the share market regulator for more than a decade.

Subrata Roy was held in almost godlike esteem, but his vast empire spectacularly fell apart after he was accused of scamming millions of India's poorest families.

It was March 4, 2014 when Sahara chief Subrata Roy came to the Supreme Court to appear in pursuance to a non-bailable warrant against him for failing to deposit Rs 25,700 crore in the SEBI-Sahara case for returning investors' money.

His was a story that can sound like an urban legend, but Subrata Roy literally made it large, drop by drop.

The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the death of Sahara Group's chief Subrata Roy.

Subrata Roy, the chief of Sahara Group, died at the age of 75 on Tuesday. The company announced that he died from cardiorespiratory arrest at 10:30 pm after a prolonged struggle with complications related to metastatic malignancy, hypertension.

Sahara Group founder and Chairman Subrata Roy died today at a Mumbai hospital after battling a long illness, the company said in a statement.

Markets regulator Sebi on Tuesday said it has recovered pending dues worth Rs 6.57 crore from Sahara India Real Estate Corporation, its chief Subrata Roy, and others in the case pertaining to flouting norms in issuance of optionally fully convertible debentures.

Sebi warned of attachment of assets and bank accounts, if they fail to make the payment.

Sebi on Monday ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover Rs 6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs).

Police on Friday searched the office, home and other premises linked to Sahara India chief Subrata Roy here in connection with a non-bailable warrant issued by a district consumer commission in Bihar, an official said.

The Supreme Court today set aside the Patna High Court orders in an anticipatory bail case including the one directing Sahara Group chief Subrata Roy to appear before it.

The High Court bench reacted to the submission of Mr Roy's counsel for exemption from personal appearance on medical grounds.

An FIR has been registered against Sahara chief Subrata Roy and 17 of his family members and group officials on charges of cheating, forgery and criminal conspiracy at a police station in Kanpur in Uttar Pradesh, police said on Tuesday.

The Supreme Court in 2012 ruled that Sahara group companies violated securities laws and illegally raised over $3.5 billion.

Sahara Group founder Subrata Roy's death last week brought to focus the undistributed funds of over Rs 25,000 crore lying with the share market regulator for more than a decade.

Subrata Roy was held in almost godlike esteem, but his vast empire spectacularly fell apart after he was accused of scamming millions of India's poorest families.

It was March 4, 2014 when Sahara chief Subrata Roy came to the Supreme Court to appear in pursuance to a non-bailable warrant against him for failing to deposit Rs 25,700 crore in the SEBI-Sahara case for returning investors' money.

His was a story that can sound like an urban legend, but Subrata Roy literally made it large, drop by drop.

The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the death of Sahara Group's chief Subrata Roy.

Subrata Roy, the chief of Sahara Group, died at the age of 75 on Tuesday. The company announced that he died from cardiorespiratory arrest at 10:30 pm after a prolonged struggle with complications related to metastatic malignancy, hypertension.

Sahara Group founder and Chairman Subrata Roy died today at a Mumbai hospital after battling a long illness, the company said in a statement.

Markets regulator Sebi on Tuesday said it has recovered pending dues worth Rs 6.57 crore from Sahara India Real Estate Corporation, its chief Subrata Roy, and others in the case pertaining to flouting norms in issuance of optionally fully convertible debentures.

Sebi warned of attachment of assets and bank accounts, if they fail to make the payment.

Sebi on Monday ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover Rs 6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs).

Police on Friday searched the office, home and other premises linked to Sahara India chief Subrata Roy here in connection with a non-bailable warrant issued by a district consumer commission in Bihar, an official said.

The Supreme Court today set aside the Patna High Court orders in an anticipatory bail case including the one directing Sahara Group chief Subrata Roy to appear before it.

The High Court bench reacted to the submission of Mr Roy's counsel for exemption from personal appearance on medical grounds.

An FIR has been registered against Sahara chief Subrata Roy and 17 of his family members and group officials on charges of cheating, forgery and criminal conspiracy at a police station in Kanpur in Uttar Pradesh, police said on Tuesday.

The Supreme Court in 2012 ruled that Sahara group companies violated securities laws and illegally raised over $3.5 billion.