Sahara India Latest Update: After SEBI imposed fine on Sahara India last days, now Ranchi High Court has taken major action. The court, while rejecting the claim of Sahara India on 85 acres of land, imposed the fine.
Sahara India Latest Update: Most of the people who have invested in Sahara India have not received their money yet. On this, Sahara argues that it has deposited the money of the investors with SEBI. But SEBI says that so far 19,644 applications related to 53,642 original bond certificates / pass books have been received for just Rs 81.70 crore. The government had informed that the records of the remaining applications are not traceable in the documents given by SIRECL and SHICL.
Court action against Sahara India
Now in another case, the court has taken major action against Sahara India. The court of Justice Gautam Chaudhary of Jharkhand High Court has rejected Sahara’s claim on 85 acres of land. Along with this, the court has also imposed a fine of one lakh rupees in this case. The court also rejected the claim of the state government in this matter and said that this land belongs to Pal Brothers.
There was an appeal against the order of the lower court, the
government had given 11 acres of land to the hospital in the year 2019. The court told the hospital that they can seek compensation from the state government. The High Court had already reserved its decision in the whole matter. In this case, Sahara appealed against the order of the lower court.
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A few days ago, SEBI imposed a fine of 12 crores.
Earlier, market regulator SEBI had imposed a heavy fine of 12 crores on two companies of Sahara Group, Subrata Roy and three others. The companies that were fined include Sahara Commodity Services Corporation Limited and Sahara Housing Investment Corporation Limited along with Subrata Roy and three others.
Penalty to be deposited within 45 days
This penalty was imposed by SEBI in 2008 and 2009 for violation of regulatory rules in issuing voluntary fully convertible debentures. Ashok Roy Chowdhury, Ravi Shankar Dubey and Vandana Bhargava are also among the persons who have been fined by SEBI. The amount of penalty has to be deposited jointly within 45 days.
Last days, information was given in the Lok Sabha on behalf of Minister of State for Finance Pankaj Choudhary that Sahara India Real Estate Corporation Limited (SIRECL) received 19400 crores from 232.85 lakh investors and Sahara Housing Investment Corporation Limited (SHICL) received Rs 6380 crores from 75 lakh investors. amount was collected.
On behalf of SEBI, investors were asked for information and asked to claim their respective amounts. But the information about the investors could not be found. When the companies of Sahara Group could not pay, the court sent Rai to jail. Subrata Roy has spent almost two years in jail. Presently he is out on parole for the last 5 years.
