Lalit Gate Controversy
The question involved in this matter was :
Last Month Lalit gate controversy grabbed the headlines in newspapers and the news channel. One of the contentious issue was why Government choose not to appeal against Honable Delhi High Court Order where Honable High Court held that revocation of passport on basis of compliant filed against Mr Modi for non - compliance with summons under FEMA was illegal.
Apparently the public perception would be a case of favouritism in favour of Mr Modi but is it a reality and to answer this question we will like to present the facts and rationale behind Honable Delhi High Court Ruling.
Sahara Case
The question involved in this matter was :
On 31st August 2012, Supreme Court of India, in its landmark judgment in Sahara India Real Estate Corporation Limited and Others VS Securities and Exchange Board of India and other, directed two companies of the Sahara Group, Sahara India Real Estate Corporation Limited ( SIRECL) and Sahara Housing Investment Corporation (SHICL), to refund around Rs 17,400 Crore to their investors within 3 months from the date of the order with an interest of 15% per annum.
Lot of misconceptions came up in the minds of people being unaware about the nitty-gritty of the case owing to subsequent judicial custody of the Sahara Chief however the facts remain that judicial custody has more to do with compliance of the Order but overall case leading to the Supreme Court order for refund of Rs 17,400 Crore was more of an interpretation issue of certain provisions of the Companies Act , 1956 read with SEBI Act and not exactly a case relating to any defrauding investors etc and such interpretation issue can happen to any Company. Sahara Case got more media attention because of the flamboyance and persona of Sahara Chief.
