Saradha Realty Case

Saradha Realty, as also its promoters and directors, were asked by markets regulator Sebi through an order in April 2013 to wind up all existing collective investment schemes (CIS) to refund the money collected from investors, with returns, within three months.

A judge hearing the Saradha case in Kolkata was almost gheraoed and heckled in court by a section of lawyers who refused to let him pass an order because a fellow lawyer had died and they had stopped work as a mark of respect.

Saradha Realty, as also its promoters and directors, were asked by markets regulator Sebi through an order in April 2013 to wind up all existing collective investment schemes (CIS) to refund the money collected from investors, with returns, within three months.

A judge hearing the Saradha case in Kolkata was almost gheraoed and heckled in court by a section of lawyers who refused to let him pass an order because a fellow lawyer had died and they had stopped work as a mark of respect.