Sahara India Real Estate

Sahara raised funds from millions of investors through "Optionally Fully Convertible Debentures" without complying with public issue norms.

Whether the deemed public issue triggers SEBI jurisdiction?

Yes, even private placements that reach more than 50 persons (later 200) are deemed public issues.

50-person threshold (now 200) under Section 67(3) of Companies Act 1956 / Section 42 of 2013 Act is jurisdictional.