Sahara to SEBI: Expedite investor verification, ads won't help


Hitting back at Sebi, embattled Sahara group today said issuance of advertisements would not help the regulator reach out to the investors spread across remote parts of the country and offered its help in verifying 95 per cent bondholders it claims to have already refunded. 


"The proof of the pudding is in eating. Sahara is confident that verification will prove not only the existence of the investors but also Sahara will get all its money which is with Sebi," the group said in a statement.

This follows comments made by Sebi's Whole-Time Member S Raman yesterday on the sidelines of a conference in Mumbai, where he wondered why not many claimants were coming forward to get back the money in the high-profile Sahara case.

"As far as Sahara is concerned, we have a decent amount of money but not many claimants. That is a question mark, as to why there are no claimants despite the fact that we have made multiple advertisements seeking applications to pay the money," he had said.

Terming his comments as "misguiding and irresponsible", Sahara accused Sebi of indulging in 'media trial' on Sahara- Sebi matter when the case was 'sub-judice'.

It said the regulator was not finding many claimants because "Sebi
 in four years has not initiated on-ground verification of the investors".

The group further said that Sebi has issued four newspaper advertisements directed towards only those investors who have yet to get refund. But, "the majority 95 per cent who have already got back their money are neither addressed in these advertisements nor will they anyway, bother to reply to Sebi (even if asked) as they have already got their money refunded from Sahara."

"Besides, it is imperative to understand that almost entire majority of Sahara investors (including the remaining 5 per cent investors) reside in the remote parts of rural India and are mostly illiterate or barely literate.

"Many of them live in mud houses, hutments and even slums, where there are no street names or house numbers (as there are no municipalities in small villages to allot house numbers, etc). Therefore, instead of merely issuing advertisements, a more serious and detailed approach should be adopted by Sebi to reach out to our investors," it said.

The group further said "Sahara with its more than 12 lakh workers has an unparalleled reach to investors".

Citing the Supreme Court order that Sebi can take help of Sahara for verification of investors, the group said, "It is not possible to reach out to these small investors and Sahara is always ready to assist Sebi in reaching out to the aforesaid investors."

Sahara is engaged in a long-running dispute with the Sebi over schemes involving raising of funds from public through certain bonds and the group was asked to return thousands of crores along with interest to the investors through the regulator.

"The entire desire of ours is to distribute as much money as possible," Raman had said.

Reacting to Raman's comments about Sahara giving truckloads of documents not connected to one another and the regulator undertaking the gargantuan task of sifting through those, Sahara said the group was asked to send all the document pertaining to 3 crore investors to Sebi
 in 10 days.

"The OFCD (bonds through which money was raised) was not closed and in fact in process of refund to a large number of investors was on. In this scenario many of the document were at our head office while a big number of documents were at our more than 4,000 branches.

"Keeping in mind the time limit of 10 days, we collected all the original documents as it is from all our offices across India and had sent the same to Sebi is boxes through 127 trucks," Sahara said in a detailed statement.

Stating that there was no fault on Sahara's part, it further said, "The documents of 3 crore investors cannot be handful and quite understandably will be huge in number because it contains the proofs of repayments of three crore investors - original repayment vouchers, receipts, KYC and other relevant documents.”

"Further, Sahara had in fact offered Sebi to help in the collation of documents and stationed its 50 officials in Sebi's Mumbai office to assist the market regulator. We were even ready to increase the number of officials to many hundred, but Sebi has refused to take their help. "Moreover, Sebi refused to take around 25 per cent of the documents which are still lying in our warehouses in Mumbai," it added.

It further accused Sebi of not having made "any serious effort" to start the verification even after two years of having claimed to have successfully organized the documents.

It further asserted that verification of "documented proofs" provided by Sahara would prove that all its "investors actually exist".

The group said the amount deposited so far with Sebi is more than Rs 14,000 crore, including interest earned, and recently it has given additional Rs 500 crore, though Sebi has refunded only Rs 55 crore.

Saharasri offers gratitude to all who stood by Sahara in difficult times

Sahara has already deposited more than Rs.14,000 crores with SEBI, but  in the last 43 months, SEBI has repaid only around Rs.50 crores to the esteemed Investors, ofcourse after verification all these monies shall come back to Sahara


Mumbai, 17th July, 2016: ‘Saharasri’ Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar, culminates his gratitude journey today at Mumbai. ‘Saharasri’ Subrata Roy Sahara had commenced the ‘Abhaar Yatra’ – an emotional gratitude journey to offer his thanks and appreciate the unprecedented support extended by crores of esteemed members, associates and over 12 lakhs workers of Sahara India Pariwar. During his journey which started on 27th May, 2016 from Hyderabad he travelled across India including cities like Vijayawada, Raipur, Nagpur, Delhi, Kolkata, Guwahati, Lucknow, Kanpur, Gorakhpur, Patna, Muzaffarpur, Ranchi, Varanasi, Bhopal, Jodhpur, Jaipur and Ahmedabad. 
While addressing the meeting of over five thousand managers, here at Mumbai Saharasri said, “I feel utmost proud to see the faith shown by you which has always been the real strength of Sahara India Pariwar.”  The event saw the emotional outburst of many workers who were reduced to tears on seeing Saharasri among them.  People wanted to touch him and shake hands with him, or take his photographs.
He further emphasized, “Sahara India Pariwar has always had absolute faith in the Indian Judiciary and we strongly believe that justice may get delayed for various genuine reasons but will prevail and it does, in the end and same will happen in Sahara SEBI case as well.”

For further information please contact:
Ghulam Zeeshan
Corporate Communications
Sahara India Pariwar
Mob: 9792982666; Off.: 0522 - 2724545

email id : ghulam.zeeshan@gmail.com 

Life Mantras – a manual for positivity

The world at any given point of time is filled with people that are successful and can teach about it to other people so that they too can prosper. Many people have the capability to be that kind of a person but those that actually care about the rest of us are few in number. Mr Subrata Roy is a man that can be considered as a part of the latter group. He is the former chairman of the Indian multinational conglomerate ‘Sahara Group’. ‘Sahara’ is a business empire with interests in various sectors of business and the Subrata Roy is the man who built it from scratch!

He started the company with a few thousand rupees in capital and not more than a few employees. In a relatively short time, Subrata Roy managed to turn the fortunes of the company soaring skywards. He took charge of the company and instilled a specific work ethic among his huge workforce. He looked upon them as members of his extended family rather than people that work for him. This philosophy is what guided him in his path according to his informative book, ‘Life Mantras’.

Mr Subrata penned the book while he was going through a major difficult time in life. Instead of focusing on the negative aspects of his life, he chose to ruminate on the positive qualities in life that made him a successful man and compiled them all into a single book, ‘Life Mantras’. It has some of the best advice to achieve a balanced and positive outlook in life. Along with a positive outlook, the book is filled to the brim with real life experiences of Mr Subrata that had an impact on him or taught him the value of something important. These experiences have been drawn from both his personal life and professional life.


The book has Subrata Roy’s thoughts on almost all the important things in life like marriage, time, love, respect, dedication, resilience, usefulness etc. The mix of topics is eclectic and it has a wonderful effect on your personal motivation after just one reading session. 

The secret of staying positive


Almost everyone at some points of time in their lives, have wondered or mused about the ‘secret’ to success. While there are many people who seem to offer advice on that topic with not much to show in terms of credentials, Subrata Roy is an exception. He is a man that has successfully started his own company with very little capital and gradually turned it into one of the biggest companies of the world. ‘Sahara’ is a company that was one of the first Indian companies to have a tangible global presence. It had interests in various sectors and was a thriving and flourishing business that employed millions of people at one point of time.

Subrata Roy is currently penning the sequel to his successful book, ‘Life Mantras’ which was released some time back. ‘Life Mantras’ is a book that is filled with pearls of wisdom relating to success. These pearls of wisdom emanate from Mr Roy’s life as a businessman and his various experiences during his life time. He has generously shared some of those experiences in detail throughout the book. Along with it being an interesting read, it is also a great guidebook to finding success in all the key areas of life.

There are amazing insights in the book about staying positive in life. It also has some meaningful words on handling one’s composure through the tough times. This was and remains to this day, Subrata Roy’s most inspirational quality. He has faced all of his life’s experiences with a great amount of humility and dignity. There are many men that will stand proudly when people talk of
their successes but there are very few men with enough guts to own up to their mistakes and take some responsibility. Subrata Roy has always been the man that takes responsibility for his actions.

He talks about the meaning and importance of ‘responsibility’ in great detail throughout his book, ‘Life Mantras’. Anybody that is looking to add some kind of structure to their lives should read this book. It has guidelines for attaining a peaceful work-life balance that most people can only dream about.

Antim Vidai of Rev. Chhabi Roy, mother of 'Saharasri' Subrata Roy Sahara

video
This is a glimpse into the kind of respect Smt Chabbi Roy commands. For even in death she is beseeched with an outpouring of love that is rarely seen these days. This video speaks more about the kind of woman she was and what she meant to people than any other form of tribute.

The Last Journey of Rev. Smt. Chhabi Roy, Mother of Saharasri Subrata Roy Sahara

The last rites of Reverend Smt. Chhabi Roy, mother of Saharasri Subrata Roy Sahara, has been performed yesterday dated 7th May 2016, in Baikunth Dham, Lucknow.
The last journey of Reverend Smt. Chhabi Roy has been attended by more than 50,000 people, including the family members of Sahara India Pariwar and the well wishers, including Shri Akhilesh Yadav - Hon'ble Chief Minister, Uttar Pradesh, Shri Shivpal Singh Yadav - Cabinet Minister, Uttar Pradesh, Shri Amitabh Bachchan, Shri Abhishek Bachchan, Shri Raj Babbar and his wife Smt. Nadira Babbar, Yoga guru Shri Bikram Choudhury, hockey Olympian Shri Dhanraj Pillai and many more. Shri Amitabh Bachchan and Saharsri Subrata Toy Sahara spent a considerable amount of time together in Sahara Shaher at Gomti Nagar, Lucknow.
At 4:30 PM, the funeral procession started for Baikuntha Dham. The open truck carrying Rev. Smt. Chhabi Roy was swarmed by the family members of Sahara India Pariwar. Wading through the crowd, Hon'ble Chief Minister of UP, Shri Akhilesh Yadav stopped near the gates to offer floral tributes. The procession turned into padyatra to reach its destination st 5:45 PM. Moments before sunset, Saharasri performed the mukhagnee ritual.

Subrata Roy’s success at being positive

When it comes to naming multi-faceted personalities, there are many who would say that Subrata Roy is a name that pops up in their mind almost instantly. It’s an unconventional choice but it is also a choice with merits because Subrata Roy is a man that has built a multi-billion dollar empire through sheer hard work, resilience and dedication. Along the way (and more importantly), Subrata Roy has built a loyal workforce/family that looks upon him with the utmost respect.

Life as we know, is not always a bed of roses and we all have problems to deal with and proverbial mountains to climb. Most of us in that phase of our lives tend to divert our energies into something negative.  Some of has however choose to channel our energies into something positive and Subrata Roy has done exactly that by writing a series of books from his present ‘lodging’, the first of which is called ‘Life Mantras’.

‘Life Mantras’ consists of Subrata Roy’s earnest musings on the important qualities and things in life. Some of these qualities and things are things like balance, love, respect, the value of time and money. Time and money have been explained in detail by Mr Subrata Roy who seems to hold both of them in equal and high regard. He is after all bound to have some things to say about what it takes to be successful in life in almost all areas. That is truly the crux of this beautiful book – attaining success in not just one but all the important spheres.


One of the main things that Mr Subrata talks about in this book is respect. He goes into detail about respect for specific things like time and money along with love and family. And he also has tips for maintaining a beautiful balance among all of those things. So the book is not only helpful in attaining success in the professional sphere but it also has wisdom that deals with leading a successful personal life as well. ‘Life Mantras’ is very complete and well-rounded sort of guide in life.