The recovery of money from PACL Ltd is turning out to be an affair bearing striking similarities to the SEBI-Sahara dispute pending before the Supreme Court of India. Senior Advocate Arvind Datar and advocate Pratap Venugopal, appearing for SEBI, informed the Supreme Court today that SEBI is finding it difficult to sell PACL’s properties due to a number of issues including unclear titles. Venugopal cited examples of flats for which finding buyers is difficult, and malls which are already in occupation. “In case of a flat, the whole floor will be one big space with all the partitions/ walls pulled down. How […]
The post Is PACL turning into a “Sahara-ian” ordeal for SEBI?
appeared first on Bar & Bench.