Stung by market watchdog SEBI's ban on its entities and supremo Subrata Roy from lifting up funds from the public, the Sahara Group called the order as "negligent" and stated that it will shortly challenge the order, which reflected "malice and bias" on the part of functionaries.

The group said, "SEBI has pushed us against the wall that is why in the interest, image and goodwill of entire Sahara India Pariwar, we have been forced to come out with all the details... Now we shall soon appeal against SEBI's action at an appropriate forum."

"... Certain individuals occupying their office (SEBI officials) act with malice and biased approach which serve no public good and earn only a bad name," Sahara India said in its campaign, which was launched within days of the order that barred and questioned the raising of funds by two group entities through a debenture instrument.

Aside from banishing Sahara India Real Estate Corporation (SIRECA), Sahara Housing Investment Corporation (SHICL) and their promoters comprising Roy from lifting up funds from the people, SEBI stated in its order on Thursday that there was a requirement for raising the covering on business fund raising and forward a suggestion to the administration for taking proper action under the Companies Act.

In this situation, Sahara, which had tried to lift up the money via optionally fully convertible debentures from a close associate to keep out of the SEBI purview, also tried to present its financial potency.

Interrogating the contention that it lifted Rs 4,000 -7,000 crore via the debenture instrument, the company stated that it was exposing details on the group's financials.

Against a burden of Rs 34,328 crore as on June 30, 2010, the market value of Sahara Group companies stood at Rs 1.09 lakh crore, it said.