MUMBAI: Sahara supremo Subroto Roy on Thursday started discussions with RBI on the fate of the group's para- banking firm Sahara India Financial Corp, action against which was kept in abeyance by the Supreme Court and the central bank was directed to give a fresh hearing. "The RBI has engaged the company in a dialogue that is likely to continue," a source familiar with the development said. The Supreme Court had directed RBI on Monday to give the company a fresh hearing on June 12, after keeping in abeyance the central bank's action, including a ban on fresh deposits, against SIFCL, against which the company had obtained a stay from Allahabad High Court. Roy was accompanied by the group's Executive Director Pallav Kumar Agarwal in the meeting, while the RBI team was led by its Executive Director G Gopalakrishna. There will be no official communication from the central bank about this particular meeting, which lasted for nearly four hours, RBI officials said.
12 Jun 2008, 2006 hrs IST,PTI
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About Me
- Kamal Kumar Pandey (Adv. Supreme Court of India)
- Lawyer Practising at Supreme Court of India. Court Experience: Criminal, Civil & PIL (related to Property, Tax, Custom & Duties, MVAC, insurance, I.P.R., Copyrights & Trademarks, Partnerships, Labour Disputes, etc.) Socio-Legal: Child Rights, Mid Day Meal Programme, Sarva Shiksha Abhiyaan, Women Rights, Against Female Foeticide, P.R.Is, Bonded Labour, Child labour, Child marriage, Domestic violence, Legal Literacy, HIV/AIDS, etc. Worked for Legal Aid/Advise/Awareness/Training/Empowerment/Interventions/Training & Sensitisation.
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