Subrata Roy, the chief of the Sahara conglomerate, one of India's biggest corporate groups, met with representatives of market regulator Securities and Exchange Board of India (SEBI) today in Mumbai to explain how the firm is refunding thousands of small investors, as ordered by the Supreme Court. After the meeting, Mr Roy told reporters: "SEBI has not taken any action for the past seven months. It has not refunded any money to any of the investors, neither have they started the process of verifying the investors."
