Sahara Group Meet With Market Regulator SEBI

Today, Managing Worker & Chairman of Sahara India Pariwar, Shri Subrata Roy Sahara with Smt. Vandana Bhargava, Shri R.S. Dubey and Shri Ashok Roy Choudhury attended SEBI’s office since SEBI had summoned them.

They presented the details of their personal assets. Shri Subrata Roy’s personal assets were around Rs 3 crore only.

Shri Subrata Roy requested and conveyed his grave concern that unmatured accounts should get their money back for which Sahara has already paid Rs. 5,120 crs to SEBI and SEBI has not taken any initiative.

He also requested that SEBI should take all possible initiatives to accelerate repayments and verifications of documents.

Shri Subrata Roy, on coming out of SEBI’s office spoke to the waiting press and declared his firm faith that nobody on this earth can prove RIGHT as wrong and said SEBI is only fighting everyday to get more money from Sahara. It is orchestrating leaks to press because of which Sahara is facing media trial regularly. Whereas in last 7 months, not even one step has been taken towards repayment of remaining investors or towards verifications of documents.

The fact of repayment is that Sahara has already repaid the entire liability except around Rs. 5,120 crs to its investors before 31^st August 2012. This means that all repayments by Sahara were done before the Judgement of Hon’ble Supreme Court.

While leaving the SEBI office, Shri Roy speaking to the media, said with a smile that the Company has paid Rs. 5,120 crs to SEBI and all the expenses are on Sahara’s account, so it was unfortunate that during the meeting, they weren’t even offered a cup of tea by the SEBI officials.