Will not be able to withdraw from demat accounts
SEBI in its notice has directed all banks, depositories and mutual fund entities not to allow withdrawals from demat accounts of any of them. However, these people will be allowed to make deposits in their accounts. Apart from this, SEBI has asked all the banks to attach the lockers besides the accounts of these defaulters. Apart from this, SEBI has asked all the banks to attach the lockers in addition to their accounts. SEBI, in its order issued in June 2022, had imposed a total fine of Rs six crore on the Sahara Group firm and its four key officials. The fine was imposed on Sahara for raising money from investors by issuing OFCDs in 2008-09.
Police of 12 police stations had reached to arrest Subrata Roy
On 9 December 2022, police from 12 police stations had reached Lucknow to arrest Sahara chief Subrata Roy. The case was related to irregularities in investment in Sahara Banking. It was being told that an investor of Sahara Banking in Bihar had filed a case against Subrata Roy in the Nalanda Consumer Court. Roy was issued summons several times in this case, but he did not turn up for appearance. On this the court had issued NBW against him.
Thousands of investors cry eight-eight tears everyday
Investors trusting Saharashree are forced to shed tears everyday. Despite all the action taken by SEBI, the investors are yet to get their money back. Right now many cases are going on against him (Subrata Rai). There was a time when big celebrities attended the wedding of both the sons. Many Bollywood stars including Amitabh, Shah Rukh were present. Let us tell you why the police has arrived to arrest Subrata Roy and why the investors have not yet received their money back.
Lakhs of employees used to work once
There was a time when Sahara used to be one of the biggest private companies in the country. More than 11 lakh employees used to work in it. Sahara India’s business was spread from real estate, finance, infrastructure, media and entertainment, health care, hospitality, retail, information technology to sports. This group was the sponsor of Team India for 11 years. Subrata Roy Sahara was also the owner of Pune Warriors team in IPL.
Source: navbharattimes.indiatimes.com
: Language Inputs
This post is sourced from newspapers, magazines and third-party websites. For more information please check NewsDay Express Disclaimer.