23 June 2011
Sahara order
SEBI has come out with a long 100 page order on Sahara - though I haven't read it - it seems to be well reasoned. This is a new development in the hard fought battle between SEBI and Sahara in the attempts by Sahara to raise money from the public (as defined by making of more than 50 offers) without a SEBI cleared prospectus.
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Sir, i have a specific question as to if a company after issuing OFCD(optionally fully convertible debenture) by private placement to a certain group of people and then those people transfer these shares to huge chunk of public. will that be considered private placement anymore?
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