SAT stays SEBI order of winding up Sahara Mutual Fund

PRESS NOTE

SAT stays SEBI order of winding up Sahara Mutual Fund

Sahara gets a major reprieve today when Securities Appellate Tribunal (SAT) stayed SEBI’s 11 April 2018 order directing Sahara Mutual Fund to wind up all schemes except Tax Gain Fund and refund the amount to investor on or before 21st April 2018. Sahara had filed a petition before SAT against the SEBI order on which the stay has been granted. SAT while considering Sahara’s pleas has also directed SEBI to reconsider the application of Onelife Capital Advisors Ltd and to find out their eligibility as a new sponsor by Wednesday 25^th April 2018 while the date of the next hearing is 26^th  April 2018.