Know what is Sahara scam
Sahara India was started in the year 1978. Talking about Sahara scam, it is related to two companies of Sahara Group. These companies are Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL). The bad days of Sahara Group began when Sahara Prime City, a subsidiary of Sahara, filed its Application for IPO (DRHP) with SEBI on 30 September 2009. Explain that DRHP contains all the necessary information related to the company. When SEBI scrutinized this DRHP, it found several irregularities. SEBI received two complaints on 25 December 2009 and 4 January 2010 to SEBI. It was told that Sahara’s companies are raising money in a wrong way. After this, SEBI started investigating these two companies of Sahara. When SEBI probed both the companies, it was found that Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) raised Rs 24,000 crore through OFCD from around 2.5 crore investors.
Till now so many investors have got refund
The money of lakhs of investors across the country is stuck in Sahara India. According to media reports, Sahara India Real Estate Corporation Limited (SIRECL) had collected Rs 19400.87 crore from 232.85 lakh investors and Sahara Housing Investment Corporation Limited had collected Rs 6380.50 crore from 75.14 lakh investors. But SEBI has been able to return only a total of Rs 138.07 crore including interest to the investors of Sahara. Sahara says that it wants to return the investors’ money but the market regulator SEBI (SEBI) has kept this money with it. In such a situation, a large number of investors’ money is still stuck.
How to claim for refund
If your money is also stuck in Sahara India, then to get it back you will have to take the help of SEBI or Consumer Helpline. You don’t need to go anywhere for this. You can file a complaint even sitting at home. According to media reports, for help from SEBI, you have to call its toll free number 18002667575 or 1800227575. You can call on these numbers between 9 am to 6 pm.
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