Sebi cancels warrant against Subrata Roy

Mumbai: A Sebi court on Friday cancelled its non-bailable arrest warrants against Sahara chief Subrata Roy and three of his group firms’ directors after they appeared before it in a case filed by the Sebi against them.

The special Sebi court cancelled the NBWs against them after they furnished fresh bail bonds of Rs 2 lakh each and gave undertakings to the court that they would attend its trial proceeding against them regularly.

The court further decided to frame charges in the Sebi case against Mr Roy and his three group firms’ directors - Ravishankar Dubey, Ashok Roy Choudhary and Vandana Bhargava on May 18.

The Sebi had filed a case against Sahara India Real Estate Corporation, Sahara Housing Investment, their promoter Subrata Roy and the three directors in 2012, alleging that these firms had collected a huge amount of money from investors without listing the securities on the stock exchanges.