Sunday 19 November 2023

As Expected : No one wants refund from Sahara

Context :

Sahara-Sebi refund account may be transferred to government …………. ET / 20 Nov 2023

Extract :

The government is looking into the legality of transferring unclaimed funds of the Sahara-Sebi Refund Account to the Consolidated Fund of India, with a provision to refund investors who stake claims later.

Funds lying unclaimed in account, investors have NOT come forward

SC said, funds should come to Govt., if no investors claim it

Earlier this year, it transferred Rs 5,000 cr to CRCS

Status as on March 31, 2023 :

# Total Funds ………………….. Rs 25,163 Cr

# Funds paid so far………. …. Rs 138 Cr

# Applications received…….. 17,526

# Total Accounts involved…. 48,326

My Take :

Be-Sahara Shree ? ……………………………….. 05 June 2014

Extract :

Then within a few weeks , Supreme Court wants him to hand over to SEBI , Rs

24,000 Crores that SEBI claims he raised illegally from " Public "

But Subroto says ,

" What public ?

I am ready to pay-off all of my depositors , if only , they would come forward to

claim their deposits

I have raised , a few rupees each ( Rs 5 - Rs 10 ), from millions of small

depositors , all of whom , gave their postal address as , " Delhi-Agra Road ", or "

Kanpur - Lucknow Road "

I just can't find them "

Now , all of us ( Supreme Court and SEBI included ) , know that ,

> Those Rs 24,000 Crores belong to politicians ( - most who got defeated in

recent Lok Sabha elections ) , businessmen / bureaucrats / film stars etc

> Each of them have given this in CASH to Sahara-Shree ( Range : Rs 10 –

100 crores )

> Sahara-Shree knows that they don't dare to publicly ask him to return

their deposits . He managed to render them be-sahara !

> Neither Sahara , nor SEBI have true addresses of those fake depositors

So , what happens now ?

> Subroto will be forced to sell most of his properties to raise money

> To ensure that there is no hanky-panky in sale of these properties ,

Supreme Court may appoint some world-famous Real Estate

Consultants to conduct e-Auctions for each of these assets

> SEBI will have a windfall of Rs 24,000 Crores that no one wants !

> SEBI will deposit it with banks and earn a fat interest - for ever

I would say, a smart way to convert BLACK money into WHITE money !

With regards,

Hemen Parekh

www.hemenparekh.ai / 20 Nov 2023

Small Creditors : finally no more Be-Sahara ?.............. 18 July 2023

APPLY TO SEBI FOR REFUND

Where is Rs 25,000 crore submitted to Sebi and how to claim refund?