‘Sahara will not let anybody siphon off investors’ hard-earned money’
15 March 2014 12:45 AM GMT
‘We suspect that this is a highly malicious campaign initiated by Sebi with a very clear intention to siphon off money from the funds that Saharas have deposited purely for the repayment of its investors.
In order to achieve this sinister goal, Sebi is maligning Sahara’s name by stating that there are no depositors while in the Hon’ble Supreme Court they have stated that in last 15 months they had only digitally listed the documents and no verification has undertaken yet,’ Sahara said in a statement issued on Friday evening.
The company, led by Subrata Roy, said it has ‘provided full details of all its depositors, including those whom Saharas have repaid. Rs 5120 crore that has been given by Sahara is purely for repayment to its investors and not for any kind of miscellaneous expenses to be incurred by any party.
Sebi at one end has stated in Parliament that this money is for refund to Saharas’ investors only and the money would not be utilized for any other purpose.’
‘This is a sinister attempt by Sebi to eat away investors’ money. Till now, in the Saharas’ case, Sebi has not shown any intention to protect the interest of investors, for which it has been constituted. How can Sebi even think of usurping investors?’ the company asked.
‘It is strange to find that the source of this wrong and malicious information is nowhere mentioned in the said story. We will not let Sebi make this another Golden Forest Case and will stand and fight till the end in the interest of its investors. We request you to carry our strong objection with the same prominence and in its entirety,’ vowed Sahara.
In order to achieve this sinister goal, Sebi is maligning Sahara’s name by stating that there are no depositors while in the Hon’ble Supreme Court they have stated that in last 15 months they had only digitally listed the documents and no verification has undertaken yet,’ Sahara said in a statement issued on Friday evening.
The company, led by Subrata Roy, said it has ‘provided full details of all its depositors, including those whom Saharas have repaid. Rs 5120 crore that has been given by Sahara is purely for repayment to its investors and not for any kind of miscellaneous expenses to be incurred by any party.
Sebi at one end has stated in Parliament that this money is for refund to Saharas’ investors only and the money would not be utilized for any other purpose.’
‘This is a sinister attempt by Sebi to eat away investors’ money. Till now, in the Saharas’ case, Sebi has not shown any intention to protect the interest of investors, for which it has been constituted. How can Sebi even think of usurping investors?’ the company asked.
‘It is strange to find that the source of this wrong and malicious information is nowhere mentioned in the said story. We will not let Sebi make this another Golden Forest Case and will stand and fight till the end in the interest of its investors. We request you to carry our strong objection with the same prominence and in its entirety,’ vowed Sahara.
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