10 crore depositors of Sahara group to get refund from escrow account
1 year, 8 months ago

10 crore depositors of Sahara group to get refund from escrow account

The Hindu  

Following a petition by the Ministry of Cooperation, the Supreme Court on March 29 ordered the reimbursement from the Sahara-SEBI refund account to about 10 crore investors. The court ordered that out of the balance amount in the Sahara-SEBI refund account, ₹5,000 crore be transferred to the Central Registrar. Sahara Group’s four societies— Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Humara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited, were registered under the Multi-State Cooperative Societies Act, 2002 between March 2010 and January 2014. The Sahara-Sebi escrow account was formed after the apex court in August 2012 directed two Sahara firms— Sahara India Real Estate Corporation Limited and Sahara Housing India Corporation Limited — to refund investors.

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History of this topic

SC asks Sahara Group to furnish list of top officials, properties for sale
3 months, 2 weeks ago

SC asks Sahara Group to furnish list of top officials, properties for sale

The Hindu  

The Supreme Court on Wednesday asked the Sahara Group to apprise it of its officials at the helm and the current shareholders besides the list of unencumbered properties which can be sold to realise ₹10,000 crore. In a series of directions on August 31, 2012, the top court had directed that Sahara Group firms – Sahara India Real Estate Corporation …

Rajasthan RERA Orders Refund To Four Homebuyers Of Sahara City Homes
4 months, 4 weeks ago

Rajasthan RERA Orders Refund To Four Homebuyers Of Sahara City Homes

Live Law  

Rajasthan Real Estate Regulatory Authority Bench, comprising Veenu Gupta, has directed Sahara Prime City Limited, the builder, to refund the amount paid by four homebuyers of the Sahara City Homes project, Jaipur after the builder failed to provide timely possession. Background Facts Homebuyers booked flat numbers B8/904, B5/502, C4/701, and C8/701 in the Sahara City Homes project situated in Jaipur, …

The Subrata Roy Saga: Sahara Group Calls Hansal Mehta's Series 'Abusive, Condemnable'
7 months ago

The Subrata Roy Saga: Sahara Group Calls Hansal Mehta's Series 'Abusive, Condemnable'

News 18  

Sahara Group has criticised the upcoming series titled “Scam 2010 – The Subrata Roy Saga”, calling it an “abusive and grossly condemnable act” and said it is contemplating “suitable legal action” against the makers. In a statement, Sahara India said the “aggrieved members” are seeking advice to take “suitable legal action against the producer, director and all those who are …

Sahara investors protest against government failure to refund deposits
10 months, 3 weeks ago

Sahara investors protest against government failure to refund deposits

The Hindu  

February 01, 2024 08:40 pm | Updated 08:41 pm IST - NEW DELHI Hundreds of people who invested in four cooperatives run by the Sahara group protested in Delhi on February 1 against the government’s failure to refund the deposits. Ram Dulare, a sanitation worker from Delhi, said he had invested ₹2.5 lakh in the Sahara cooperatives six years ago …

SEBI to sustain action against Sahara even after founder’s death, says Buch
1 year, 1 month ago

SEBI to sustain action against Sahara even after founder’s death, says Buch

The Hindu  

The Sahara India matter would continue even after the death of the group’s founder and chairman Subrata Roy, Securities & Exchange Board of India chairperson Madhabi Puri Buch said on Thursday, a day after Mr. Roy passed away following illness in Mumbai. The investors will get their money back going forward,” Ms Buch said on the sidelines of an event …

First installment of Rs 10,000 each transferred to 112 Sahara beneficiaries, says Amit Shah
1 year, 4 months ago

First installment of Rs 10,000 each transferred to 112 Sahara beneficiaries, says Amit Shah

Firstpost  

“Today, the first instalment of Rs 10,000 each has been transferred to 112 beneficiaries. Till now, 18 lakh people have registered on the portal,” said Shah Union Home and Cooperative Minister Amit Shah on Friday transferred first installment of Rs 10,000 each to 112 beneficiaries of the four cooperative societies of the Sahara Group through the Sahara Refund Portal in …

In Sahara saga, small investors find a new hope
1 year, 4 months ago

In Sahara saga, small investors find a new hope

The Hindu  

Soon after a new Ministry to look after the cooperative sector was formed in 2021, the corridors of its old offices at Krishi Bhavan in Delhi’s Central Secretariat were filled with thousands of letters and postcards. On July 18, the Central government set up the Central Registrar of Cooperative Societies portal — mocrefund.crcs.gov.in — for small investors in Sahara companies …

Sahara Refund Portal Claim Process: Apply Online, Step-By-Step Guide, Check All Details Here
1 year, 5 months ago

Sahara Refund Portal Claim Process: Apply Online, Step-By-Step Guide, Check All Details Here

News 18  

Sahara Refund Portal CRCS: The central government on Tuesday started the process to refund Rs 5,000 crore of depositors whose funds are struck in four cooperative societies of Sahara Group, a move that is likely to help crores of small investors awaiting return of their hard-earned savings. Check below the claim process on the Sahara refund portal CRCS and Sahara …

Amit Shah launches Sahara Refund Portal, says genuine depositors to get money back within 45 days
1 year, 5 months ago

Amit Shah launches Sahara Refund Portal, says genuine depositors to get money back within 45 days

Firstpost  

Addressing the launch program of ‘CRCS-Sahara Refund Portal’, Amit Shah on Tuesday said that all “genuine depositors” of the Sahara Group’s cooperative societies will get their money back within 45 days Union Home Minister Amit Shah on Tuesday said that the process of returning money of the investors stuck in Sahara’s co-operative societies for many years has started. Addressing the …

Government launches portal to help small-time investors of Sahara group’s cooperative society
1 year, 5 months ago

Government launches portal to help small-time investors of Sahara group’s cooperative society

The Hindu  

Union Home and Cooperation Minister Amit Shah on July 18 launched a portal to refund the money of around four crore small-time investors of four cooperative societies linked to the Sahara group of companies. Launching the portal on the Ministry’s website, Mr. Shah said that 1.7 crore investors will benefit in first phase and claims upto ₹10,000 will be settled …

Sahara group investors stage protest, demand return of money
1 year, 5 months ago

Sahara group investors stage protest, demand return of money

Deccan Chronicle  

HYDERABAD: Several people who were taken for a ride after investing their savings in the Sahara group, especially senior citizens, staged a protest in front of the Sahara office, which is opposite the state secretariat, here on Monday. I have to get Rs lakh from 2018 onwards.” T. Ramesh, a tailor from Shivarampally, said “I have been depositing regularly for …

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals
1 year, 8 months ago

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals

Live Law  

The Supreme Court on Wednesday allowed an application filed by the Central Government seeking allocation of ₹ 5,000 crore out of ₹ 24,979 crores deposited by the Sahara group with the Securities and Exchange Board of India to repay the dues of the depositors of the Sahara Group of Cooperative Societies.The Court ordered that out of the total amount of …

Sebi recovers ₹6.57 crore dues from Sahara Group, its chief Subrata Roy
1 year, 8 months ago

Sebi recovers ₹6.57 crore dues from Sahara Group, its chief Subrata Roy

Live Mint  

Markets regulator Sebi on Tuesday said it has recovered pending dues worth ₹6.57 crore from Sahara India Real Estate Corporation, its chief Subrata Roy, and others in the case pertaining to flouting norms in issuance of optionally fully convertible debentures. "In view of the payment of the amount of ₹6.57 crore due under the certificate, the said certificate is hereby …

10 crore Sahara group investors will get back their money with interest: Amit Shah
1 year, 9 months ago

10 crore Sahara group investors will get back their money with interest: Amit Shah

Op India  

On Wednesday, March 30, Union Home Minister Amit Shah assured that the 10 crore individuals whose investment is stuck in the four cooperative societies run by the Sahara group will get back their money with interest. The HM’s assurance came hours after Supreme Court allowed a plea by the Centre seeking allocation of Rs 5,000 crore, out of RS 24,000 …

SEBI orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others
1 year, 11 months ago

SEBI orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others

The Hindu  

SEBI on December 26 ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover ₹6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures. The recovery proceedings against five entities—Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bhargava—for ₹6.42 …

Sebi orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others
1 year, 11 months ago

Sebi orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others

India Today  

Sebi on Monday ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover Rs 6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures. The recovery proceedings against five entities -- Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana …

End relief to Sahara group, SEBI tells SC
4 years, 1 month ago

End relief to Sahara group, SEBI tells SC

The Hindu  

The Securities and Exchange Board of India has asked the Supreme Court to cut short the “long rope” given to the Sahara group and direct it to cough up ₹62,602.90 crore in dues or send its chief, Subrata Roy, to jail for contempt. “Direct the Saharas to forthwith deposit the balance amount of ₹62,602.90 crore as on September 30, failing …

SEBI moves SC for payment of ₹ 62K crore from Sahara firms, wants Subrata Roy in custody if not paid
4 years, 1 month ago

SEBI moves SC for payment of ₹ 62K crore from Sahara firms, wants Subrata Roy in custody if not paid

The Hindu  

Markets regulator SEBI has moved the Supreme Court seeking direction to two Sahara firms to pay ₹ 62,602.90 crore in compliance with the court’s earlier orders, failing which the group’s chief Subrata Roy be taken into custody. SEBI said the contemnors, Roy and his two firms — Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. — …

'Sahara Must Pay Rs. 62,602 Crore That It Collected From Public': SEBI Moves Supreme Court Seeking Custody Of Subrata Roy For Failure To Deposit
4 years, 1 month ago

'Sahara Must Pay Rs. 62,602 Crore That It Collected From Public': SEBI Moves Supreme Court Seeking Custody Of Subrata Roy For Failure To Deposit

Live Law  

The Securities and Exchange Board of India has moved Supreme Court against Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. for INR 62,602 crore which it had collected from the public.The Market Regulator seeks that the Contemner be held in contempt & be taken into custody, if it fails to deposit the said amount.SEBI. The Securities …

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