Sunday, May 29, 2022

Jamshedpur MP assures of early solution of Sahara India- SEBI dispute

Jamshedpur, May 12: Amid uncertainties looming on the investors about their hard earned deposits due to the dispute of Sahara India and SEBI pending in the Supreme Court, senior executives of Sahara India Pariwar Jamshedpur region have approached Jamshedpur MP Bidyut Baran Mahato on Thursday.

Regional Manager of Jamshedpur Region of Sahara India Pariwar, Jayant Srivastava and the Regional Manager of Tatanagar Rajiv Kumar on behalf of workers of both the regions jointly submitted a memorandum to Bidyut Baran Mahato to make an effort to end Sahara SEBI dispute.

The MP said that Sahara SEBI dispute is in the eyes of the government, for this the government is making every effort and soon positive results would be seen for all.

 Significantly, for the last 10 years, the money of the investors of Sahara is deposited with SEBI. Following Supreme Court order Sahara India has deposited Rs 25,000 Crores in the SEBI account, and the SEBI has to pay it to the investors. But  according to Sahara India officials till date SEBI has onoy paid a small amount due to which the payment of lakhs of depositors is pending and the workers of Sahara are facing the worrisome situation of unemployment and starvation.

The workers approached the MP to intervene in the issue and the MP assured of all efforts to sort out their problem.

Incidentally,  Sahara India chief Subrata Roy on Tuesday moved the Supreme Court against the Patna High Court’s order that asked him to be personally present before it on May 12 to explain his plan for payment of matured deposits to the small investors of his group companies.

The Patna High Court had earlier directed the Sahara company to explain how the hard-earned money of poor investors deposited in different schemes of the Sahara Company could be returned. Sahara Credit Cooperative Society had told the HC that it does not have funds to refund the investors and would be able to do so only if the Securities and Exchange Board of India (Sebi) release its money.


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