nitially, government opinion favoured Sahara. In early 2011, when Salman Khurshid was the corporate affairs minister and Veerappa Moily was law minister, Additional Solicitor General Mohan Parasaran had said that unlisted companies, like Sahara India Real Estate Corporation and Sahara Housing Investment Corporation, should be regulated by the ministry of corporate affairs and not Sebi. In July 2011, Khurshid and Moily swapped portfolios and the scenario changed: the ministry of corporate affairs now said that Sebi and it would work in tandem and the market regulator had full jurisdiction over public issues.