Know what Sahara Scam is
Sahara India was started in 1978. Talking about the Sahara scam, it is related to two companies of the Sahara Group. These companies are Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL). Sahara Group’s bad days started when Sahara Prime City, a subsidiary of Sahara, filed for IPO (DRHP) with SEBI on September 30, 2009. Explain that the DRHP contains all the necessary information related to the company. SEBI scrutinized this DRHP and found several irregularities. SEBI received two complaints on 25 December 2009 and 4 January 2010. Sahara’s companies were said to be raising money in the wrong way. Following this, SEBI started an investigation into these two companies of Sahara. When SEBI probed the two companies, it found that Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) had raised Rs 24,000 crore through OFCD from around 2.5 crore investors.
So far many investors have received their money back
The money of lakhs of investors in the country is stuck in Sahara India. Sahara India Real Estate Corporation Limited (SIRECL) collected Rs 19400.87 crore from 232.85 lakh investors and Sahara Housing Investment Corporation Ltd collected Rs 6380.50 crore from 75.14 lakh investors, according to media reports. But SEBI was able to return only Rs 138.07 crore including interest to Sahara’s investors. Sahara says it wants to return investors’ money, but markets regulator Sebi (SEBI) is holding the money. A large amount of investors are still stuck in such a situation.
Sahara India Refund Status: When will Sahara India investors get their refund? Know when to receive good news
How to claim for a refund
If your money is stuck in Sahara India, you will have to take help of SEBI or customer helpline to get it back. You don’t have to go anywhere for this. You can file a complaint even at home. According to media reports, for SEBI’s help, you should call its toll-free number 18002667575 or 1800227575. You can call these numbers from 9 am to 6 pm.
