Serious complaints against Sahara India
I, along with Nutan have demanded enquiry as regards money-collection scheme of Sahara India through Sahara Q shop and Sahara Credit society.
In the complaint to Securities and Exchange Board of India (SEBI) along with the Corporate Affairs Ministry, we have said that it is being widely alleged that along with Sahara Q shop scheme, Sahara India is collecting public money through a new entity, Sahara Credit cooperative society, having variety of schemes like Sahara E shine, Sahara A Select, Sahara Minor, Sahara M Benefit etc.
As per the complaint, this society is registered with the Ministry of Agriculture, Government of India and is collecting money against the rule of law as regards collection of public money. Thus just like what the Supreme Court said in its order as regards Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL), these money collection in Sahara Q shop and Sahara credit society seem to come within the definition of "securities" as defined under Section 2(h) of Securities Contracts (Regulation) Act, 1956 where Sahara India seems to be contravening the provisions of Sections 56, 73, 117A, 117B and 117C of the Companies Act along with the various clauses of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
We have said that we had previously sent their complaint on 02 January but no action has been taken so far and if these complaints are not enquired within time, it might prove extremely detrimental to interest of the helpless investors.
Hope u agree to our complaints
I, along with Nutan have demanded enquiry as regards money-collection scheme of Sahara India through Sahara Q shop and Sahara Credit society.
In the complaint to Securities and Exchange Board of India (SEBI) along with the Corporate Affairs Ministry, we have said that it is being widely alleged that along with Sahara Q shop scheme, Sahara India is collecting public money through a new entity, Sahara Credit cooperative society, having variety of schemes like Sahara E shine, Sahara A Select, Sahara Minor, Sahara M Benefit etc.
As per the complaint, this society is registered with the Ministry of Agriculture, Government of India and is collecting money against the rule of law as regards collection of public money. Thus just like what the Supreme Court said in its order as regards Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL), these money collection in Sahara Q shop and Sahara credit society seem to come within the definition of "securities" as defined under Section 2(h) of Securities Contracts (Regulation) Act, 1956 where Sahara India seems to be contravening the provisions of Sections 56, 73, 117A, 117B and 117C of the Companies Act along with the various clauses of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
We have said that we had previously sent their complaint on 02 January but no action has been taken so far and if these complaints are not enquired within time, it might prove extremely detrimental to interest of the helpless investors.
Hope u agree to our complaints
Copy of complaints---
Amitabh Thakur
# 094155-34526
# 094155-34526
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