Showing posts with label Sahara India. Show all posts
Showing posts with label Sahara India. Show all posts

Sahara India Pariwar allocated Rs 50 crore for the families of Kargil martyrs


“I’ll either come back after raising the Indian flag in victory or return wrapped in it, but I will come for sure.” And he did come back. The instrumental shell of his valiant soul was wrapped in the glorious tri-colour when he landed on our motherland’s bosom. His family wasn’t saddened by his demise, but honored that their son sacrificed his blessed life in the service of their country. In his father’s own words, he found a righteous path that would lead him to his goal — to a service that was extraordinarily high and supreme.
PVC Captain Vikram Batra’s bravery and act of heroism led to the capture of a peak invaded by Pakistan, Point 4875 in the Mushkoh Valley. On this day of Vijay Kargil Diwas, India celebrates its triumph against the cyphers of terrorism and violence. Most of all, India commends and reminisces the sacrifice of our brave jawans who foiled an insidious attempt of an impure neighbor.
Though their legacy is immortal, only a few people still remember their tales of valor and sacrifice. Sure, Twitter has #VijayKargilDiwas trending, but how many people really care about the Kargil martyrs? A lot of families of these Kargil martyrs didn’t just suffer the loss of a family member. They had to deal with poverty and an insecure future, especially the orphaned children of the war heroes.
In 1999, one of the few private organizations that came forward for the Kargil martyrs and their family was Sahara India Pariwar. There’s rarely any other name that comes to mind, other than Sahara, who actively played an important role after the war. Saharasri Subrata Roy has been supporting over 301 children of the Kargil martyrs’ who are below the age of 18 years.
They have also adopted the families of Kargil martyrs, providing them emotional and economic support. More than Rs 50 crore has been allocated by the company for their help. The patronage didn’t end there. Through their entertainment channel, Sahara televised Mission Fateh, a show where the story of the martyrs were presented without masala, true to every detail.
Apart from Sahara India Pariwar, The Telegraph and Anand Bazaar Patrika set up the Kargil fund, where the common Indian could make a donation. Several Indians like Veni Prakash Khandelwal, who gave away his sagan to the fund, and six-year-old Satrupa Das, who collects money every morning for the same, are also commendable.
Like Lata Mangeskhar suggested, countrymen, let’s take a minute to remember our brave soldiers. Let’s spend a moment in tears for them, who sacrificed their present for our future.

Saharasri at Aamby Valley

More than 1,000 villagers and Sarpanch of 10 nearby villages along with workers of Sahara India Pariwar welcoming ‘Saharasri’ Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, on his arrival at Aamby Valley City after getting back the City as per the order of Hon’ble Supreme Court. Saharasri after entering independent India’s first planned hill city offered his gratitude to Bharat Mata by offering flowers at Bharat Maa Naman Sthal post, which he interacted with villagers and employees of Aamby Valley City. 

‘Sahara Milan’ yatra at Ranchi




Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, during the course of his ‘Sahara Milan’ yatra today at Ranchi to announce the commencement of Sahara India Pariwar's 40th anniversary. More than 20 thousand employees of Sahara India Pariwar, from all over Jharkhand, being addressed by Saharasri Subrata Roy Sahara, in Prabhat Tara Maidan, at Ranchi.

‘Sahara Milan’ yatra at Ahmedabad







Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, during the course of his ‘Sahara Milan’ yatra today at Ahmedabad to announce the commencement of Sahara India Pariwar's  40th anniversary. More than 5 thousand employees of Sahara India Pariwar, being addressed by Saharasri Subrata Roy Sahara, at GMDC, Gujarat University Convention & Exhibition Centre, Ahmedabad.

‘Sahara Milan’ yatra at Patna





Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, during the course of his ‘Sahara Milan’ yatra today at Patna to announce the commencement of Sahara India Pariwar's  40th anniversary. More than 5 thousand employees of Sahara India Pariwar, being addressed by Saharasri Subrata Roy Sahara, at Bapu Sabhagar, in Patna.

‘Sahara Milan’ yatra at Muzaffarpur






Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, during the course of his ‘Sahara Milan’ yatra today at Muzaffarpur to announce the commencement of Sahara India Pariwar's 40th anniversary. More than 15 thousand employees of Sahara India Pariwar, of Samastipur and Muzaffarpur, being addressed by Saharasri Subrata Roy Sahara, at The Icon, in Muzaffarpur.

The Subrata Roy case: What’s happening to the billionaire who couldn’t get away?

The nationwide bust up over how a certain liquor baron made bankers kiss dirt, walking away with bagful of cash through a VIP channel, possibly to an undisclosed city in Europe, is making headlines and triggering breaking news almost every day now.
But questions need to be raised about the curious case of billionaire Subrata Roy who paid loads of cash to the market regulator and last week completed two years behind bars in Delhi's maximum security prison.
Roy, who recently wrote a tome on his life experiences, is now called a philosophical author by many .
Jokes apart, someone seriously needs to scrutinise the case again, especially at the way the Securities and Exchange Board of India (SEBI) handled it and the way Sahara group demonstrated considerable resilience. A few days ago, a handful of Sahara employees protested the delay in payment of salaries; they were in their undergarments. The idea was to be visible  on television.
But what's happening in the case?
On 31 August, 2012, the apex court had asked SEBI to return money to Sahara's investors. In the last 40 months, it has been able to pay Rs 50 crores. The Mumbai-based market regulator advertised four times in as many as 144 newspapers, inviting demands for repayment. Worse, the fourth advertisement said it was the last opportunity for raising demand for repayment.
Does that mean that - under any circumstances - SEBI won't be able to pay over Rs 100 crores? And what has it got in its kitty? It has received a whopping Rs 12,000 crores and even earned interests on FDs. Also, SEBI has the property papers of Sahara's land bank worth Rs 40,000 crore in its custody. There are chances it will have another Rs 5,800 crore ( Rs 800 crore cash and Rs 5,000 crore bank guarantee) by the time Roy and his two directors walk out of the prison gates. Sahara, which sought time for raising the stipulated cash from its assets for SEBI, was given a 45-day extension that ended in November 2015. The group claimed it had five "solid offers" for its properties.
The slugfest between the market regulator and Sahara has been described as corporate India's best known samudra manthan. SEBI disputes Sahara's claim that it has paid 95 per cent of its investors from whom it had collected Rs 24,000 crores through optionally fully convertible debentures (OFCD) in 2009-10, after the written permission from 2 Registrars of Companies. The Supreme Court however, upheld SEBI's plea and directed that Saharas' investors have to be refunded the money along with interest through SEBI.
The billion dollar question that needs to be raised is when will SEBI verify the authenticity of these investors? If four advertisements have failed, doesn't it become obligatory for SEBI to verify Sahara's repayment claim? After all, the Supreme Court says the the final decision on the issue of unpaid investors lies with SEBI. The market regulator, which said in January 2013 that it wanted to hire a verification agency, has reportedly failed to organise one. So who will help ascertain the genuineness of bondholders in the Sahara case.
Look at the way the events have progressed. SEBI has not given any reason for withholding its notice inviting the tenders. The first tender to seek a verification agency was floated on 2 November, 2012. SEBI asking for applications by 22 November, 2012. It did not happen and so the deadline was extended to 21 December, 2012, and again extended till 15 January, 2013. After the expiry of this last deadline, SEBI decided to withhold the tender notice.

It is now March 2016. Someone must ask questions, either in court or on televised debates. Otherwise, the billionaire, will have no option but to write the second sequel of his planned trilogy.

Life Mantras - The voice of Saharashri Subrata Roy

With a background as strong as his you can be sure of the fact that whatever Subrata Roy has to say it will be worthwhile and a good read. He is the brain as well as vision behind the great Sahara Empire and was also responsible for driving it to its landmark achievements. What’s more he successfully managed over 12 lakh employees! Managing such a large number of employees is no joke, it sure takes a certain amount of wisdom, skill, and discernment to work in the skill-set and motivations of so many employees and incorporate it into the growth and progress of building Sahara. In his book Life Mantras, Saharashri Subrata Roy talks about what experiences in life have taught him. His book is part of a trilogy and covers a wide variety of topics, which are segmented clearly for the easy understanding of the reader. Apart from the contents of the book is the fact that the author completed this book while in still in jail. For most people, getting involved in a trail and custody would not be digested positively but here is an individual who chose to turn the situation around and look at the silver lining in cloud – he took to completing a book that he started writing much earlier.


Only a self-made man can credibly talk of the power of depending on yourself to make accomplish and fulfil his ambitions. He talks of how one must not depend on others to help one to achieve something or become something in life, this in a nutshell can be called as being ‘made of substance’. Many an entrepreneur/ businessman could draw strength from this brutally true yet motivational line. Subrata Roy also talks of the three jewels of life that make it more fulfilling and make the most of it. Life Mantras just like its name suggests is a mantra of things that one should take into account to make the most of this gift called life. 

Subrata Roy reveals the secret to success

Some men succeed by what they know, some by what they do, and a few by what they are. Life Mantras is a success story written by one of the most successful man in India, Subrata Roy. They say that a successful man is the one who lays a firm foundation with the bricks that others have thrown at him. With great struggle and constant hard work Saharasri laid the foundation of the Sahara India Pariwar and has ever since been the guardian to his over 1.2 million fellow employees. He has always been a profound thinker, a mentor, and a guide to his subjects.
Life Mantras has become the talk of the town. Everybody wants to be successful, and knowing what it takes to reach that point where the air is crisp has become a necessity for people who strive hard to achieve success. Subrata Roy has written his lifetime experiences, observations and insights on the daily issues of people at altered corporate establishments of the conglomerate across India and also abroad. He further elaborates the details and various psychological and emotional aspects of life. He tells about the basic instincts that inherent in human beings as a gift of life, and how to respect it and grow more.

Along with the success story he you will also realize of what it takes to attain peace, true happiness, contentment, and continuous progress in life in terms of material gains, respect and love. The key is in your hand. Because only you can write your own success story.  

The inspiration behind Subrata Roy Sahara’s Life Mantras

Life is unpredictable and can often serve to shock you by upsetting your regular lifestyle. One moment everything is going smoothly and the next second all is upturned by a sudden storm. And perhaps this sums up the happenings of Subrata Roy’s life. Also known as Saharasri, he is a man who is self-made and single-handedly setup the great Sahara empire. The experience of being roped in a judicial custody and confined to a dingy prison cell can shake any individual’s foundations, but it is not the case with a strongly rooted person as Subrata Roy. Instead of focusing on the darkness of the hour, Subrata has chosen to bring light into this bleak moment of his life and completed the book he had been writing titled Life Mantras. In his book, he has highlighted his musings and wisdom that has stemmed from his experiences. It focuses on a way to acquire three jewels in life, namely, happiness, contentment, and peace. Any man with these three jewels of life stands to be rich no matter what the situations in his life look like. In spite of being separated from loved ones, home, and the good lifestyle he always enjoyed, Saharasri Subrata chose to remind himself of his beliefs and morals and pen them down in a book that might help others in getting new perspective. There are few people who would like to remain positive and productive even when situations don’t let them do so, and Subrata Roy stands tall among such people. In spite of the claims charged against him, Subrata Roy has yet again proved his point by writing a book with a philanthropic philosophy that can benefit others. Apart from these philosophies, Subrata Roy has conveyed to his readers that the power to make something of themselves lies within their own hands. This book is sure to be a brilliant read. 

Why I want to read Subrata Roy’s book titled Life Mantras

A wise person once said, “situations can make or break you”. You can either let the situation affect you and your outlook or you can see how to make the most of it. Life Mantras written by Saharasri Subrata Roy isn’t an autobiography but rather a philosophy of sorts derived from his current as well as past life scenarios. Having been imprisoned since 2014, Subrata Roy has indeed faced hardships. The judicial case launched against him has not only shaken his empire but also the perception people have of him. It may seem hard to form an idea of who Saharasri really is but as the saying goes ‘as a man thinketh so he is’. Life Mantras is Saharasri Subrata Roy’s reflection of his mind and the life experiences/ jewels that he dwells on. Being in jail may have confined him physically but Subrata decided that four walls could not confine his free-spirited mind and his generous heart to share his knowledge with the world. Managing a business as large as Sahara India not only helped Subrata Roy perfect his business skills but also helped him gather knowledge on understanding human life. Having successfully managed over 12 lakh workers under him he also strove to implement his philosophy of ‘Collective Materialism’, which propagates collective growth. Although now in jail and not heading his employees, Subrata has not stopped putting forward this philosophy and has completed a trilogy titled Thoughts from Tihar. The books in this trilogy are titled as Life Mantras, Think with Me, and Reflections from Tihar, all of which are philanthropic in nature and shed light on how to have a more fulfilling life full of happiness, contentment, and peace. Although not an autobiography, his book talks of his real-life experiences and involves you in their rawness. It may seem as one among many books but I’d like to hear the thoughts of a man who has gone through so much and still chooses to follow his philanthropic heart.

Why I want to read Subrata Roy’s book titled Life Mantras

A wise person once said, “situations can make or break you”. You can either let the situation affect you and your outlook or you can see how to make the most of it. Life Mantras written by Saharasri Subrata Roy isn’t an autobiography but rather a philosophy of sorts derived from his current as well as past life scenarios. Having been imprisoned since 2014, Subrata Roy has indeed faced hardships. The judicial case launched against him has not only shaken his empire but also the perception people have of him. It may seem hard to form an idea of who Saharasri really is but as the saying goes ‘as a man thinketh so he is’. Life Mantras is Saharasri Subrata Roy’s reflection of his mind and the life experiences/ jewels that he dwells on. Being in jail may have confined him physically but Subrata decided that four walls could not confine his free-spirited mind and his generous heart to share his knowledge with the world. Managing a business as large as Sahara India not only helped Subrata Roy perfect his business skills but also helped him gather knowledge on understanding human life. Having successfully managed over 12 lakh workers under him he also strove to implement his philosophy of ‘Collective Materialism’, which propagates collective growth. Although now in jail and not heading his employees, Subrata has not stopped putting forward this philosophy and has completed a trilogy titled Thoughts from Tihar. The books in this trilogy are titled as Life Mantras, Think with Me, and Reflections from Tihar, all of which are philanthropic in nature and shed light on how to have a more fulfilling life full of happiness, contentment, and peace. Although not an autobiography, his book talks of his real-life experiences and involves you in their rawness. It may seem as one among many books but I’d like to hear the thoughts of a man who has gone through so much and still chooses to follow his philanthropic heart.

Saharasri’s Life Mantras to turn challenges into opportunities

Lost time is never found again. So, it is important to utilize time effectively like Saharasri Subrata Roy. In spite of being in the unfortunate custody of the Asia's largest prison, he has never forgotten the value of time. Time is free, but yet its priceless, and Subrata Roy has managed to utilize his time meritoriously and write this thought and completed this beautiful book called Life Mantras.


From a successful business man to a philosophical author, the first of his trilogy, Life Mantra is an outcome of his time spent well. He was inspired to write this book through the lessons that he has learnt throughout his life. He has creatively conveyed the way to live life with happiness, contentment and peace. We can turn challenges into opportunities when we understand the basic truths and the realities of life, and be ready to face them at any hour of time. The key is to trust in yourself and to face every challenge with confidence. The bigger the challenge, the bigger the opportunity to prove your worth to the world. As you get engrossed in the potent energy of Life Mantras, you will slowly see yourself change all in a good way, you will experience a sense of fulfilment, and will feel self-motivation coming into you.
Enjoying success requires the ability to adapt. Only by being open to change will you have a true opportunity to get the most out of your skills and talent. Here, the book beautifully explains of how an ordinary person can live a peaceful, happy and contented life just by slightly changing his attitude by shifting his priorities and by making a bit behavioural adaptation. While reading it you will see your confusions regarding your life vanishing away, and the complexities of psychology or philosophy will become so simple and will be in your reach. You will be able to make your own way of desired success into the world.


Saharasri’s Life Mantras to become successful

Life is never easy; you have to fight through some bad days to earn the best days of your life. If there are ups, then there are downs too, but by staying positive you open the windows of opportunity to determine your goals and values. In hard times, it is important to realize that only you can help yourself, so push yourself harder to achieve contentment and to become successful in your personal and professional life. Subrata Roy’s Life Mantras demonstrates a way to be happy, satisfied and peaceful by enjoying every moment of the beautiful gift of the Life. He believes that to achieve true happiness, you have to trust in yourself. It all depends on you. Success is only in your hands. This book will enlighten you with the basic truths with which we are born, and will help you self-motivate every day.
There is so much to learn from the life of Saharasri. He started off as an ordinary man and ended up becoming the most successful businessman in the world. He laid the foundation of Sahara India in 1978 with a capital of only Rs.2000, and within a short span of 37 years this company is worth of Rs.1,80,000 crores. Now, even in his times of adversity he hasn’t given up. He believes in himself completely and thus he looks forward to achieve more and more success each day of his life. He has been a guardian to over 1.2 million fellow workers, and so he credits his success to his philosophy of ‘Collective Materialism’.

Everyone faces hardship and obstacles in life. It's a matter of how you learn to overcome the obstacles and look forward towards growth. Learn to face the challenges in life, believe in yourself, and rise up with self-confidence like the pioneer of the great Sahara India Pariwar, Subrata Roy. 

Salman-Subrata – A crazy legal saga

This country amazes me. Its legal system amazes me. Its political system amazes me. Being an Indian normally is something I am incredibly proud of. But when I come across such blatant hypocrisy all I can do is be amazed. Look with amazement at the double standards and the injustice. The favouritism and the mob mentality. The country at most times rises as one to de-cry an injustice. But then there are also times where it either completely ignores an injustice. Or in some worse cases, the media pumps up the world with false information and then you see the people rise up against an innocent, a victim. And the public shaming and the scorn that person has to face is terrible.

Recently Salman was released from a long running case of where he was accused of running over some pavement dwellers. He was drunk, driving fast, in the prime of his career, famous and loved by the public. A legal dance began that finally ended this year. It involved a lot of drama. It was I am a little ashamed to say slightly entertaining. But I felt that in the end justice would indeed be served and the guilty will be imprisoned. After all, the case did seem pretty clear cut. He was guilty. There were witnesses. There were statements. There was evidence. But now Salman is gone blameless. The verdict is that he did not do it. It wasn’t him behind the wheel. Here we see a person very clearly guilty of a crime – that too a crime that involved the deaths of innocent people. This was murder! And yet he went scot-free.


And then on the other hand we have Subrata Roy. The patriarch of Sahara parivaar. A business man who created an empire. A man responsible for giving jobs to 12 lakh people. A man loved by his employees and respected by them as well as his colleagues. And where is he? He is rotting in prison for 21 months without any charge. What exactly is going on here? Do you have any answers?

“Saharasri” – An Inspiration to many celebrates another birthday



Hon'ble Saharasri has inspired thousands of people to dream higher, so his birthday is marked as “Prerna Diwas” and celebrated by people who believe in his philosophy. Today, on this auspicious occasion we want to wish Subrata Roy a very Happy Birthday.

Subrata Roy is one among the top 10 most powerful businessman India can ever have. He is the founder and chairman of the famous Sahara India and has achieved more than fifteen awards for being the best Industrialist.

On 10th June, 1948, Subrata Roy was born in the district of Araria, Bihar. He was a very bright child, he also holds a diploma in Mechanical Engineering. Before he founded Sahara, he had already gathered 32 years of precious experience in business development along with 18 years of experience in real estate business. 

He opened his first office in Gorakhpur, which consisted of a table and two chairs along with a staff of one clerk and a runner boy. Initially he single headedly took up the business of Deposits and Para banking. But his life took a new turn in 1990s when he moved to Lucknow and set his business empire which is now over Rs.50, 000 crore. From there, it went on to become the largest conglomerate of India with a diversified range of business interests.


Apart from his business skills, he is also a humanitarian, he contributed to the relief efforts in flood hit Uttarakhand region by providing them the basic amenities along with free medical facility. He always believed in creating a family rather than a company. Which he did successfully, in a span of just 29 years, Sahara India has seen enormous growth as Roy was the driving force behind this success.

New Revised Statement of Advocate Gautam Awasthi on 28th November 2014

The Saharas had filed applications seeking permission of the Hon’ble Supreme Court for taking over of the loan of Bank of China relating to three foreign properties. The Saharas will also be raising a loan of US$650 million on the foreign properties for being utilized for the payment in SEBI-Sahara Refund Account in compliance of the order dated 26.3.2014.

The court, on the insistence of SEBI, has asked Saharas to show the ESCROW agreement with respect to the junior loan of US$650 million and once SEBI gives a no objection and the money is transferred in the ESCROW account, the Hon’ble Court will permit the taking over of the loan from Bank of China and raising of the junior loan.

The Hon’ble Supreme Court was also shown the agreements of sale with respect to domestic properties. The SEBI, however, has sought time to submit its response regarding the proposed sale of domestic properties at Chomma, Jodhpur, Vasai and Pune.

The Saharas have demonstrated that in addition to Rs 3,117 crore already deposited, the balance amount for compliance of the order dated 26.3.2014 have been arranged and once necessary permissions are granted by the court, the money will reach SEBI in a phased manner. The Hon’ble Supreme Court has now listed the matter for Tuesday, 2nd December 2014.

Gautam Awasthi

Advocate        

Suresh Raina Joins ‘U P Wizards’ - the Hero Hockey India League’s Lucknow Franchise


Lucknow, 17 November 2014: Mr. Suresh Raina, the ace cricketer, today joined the Hockey India League (HIL) franchise team - Uttar Pradesh Wizards as its co-owner. The announcement of his association was made by Mr. Abhijit Sarkar of Uttar Pradesh Wizards in an event held at Sahara Shaher, Lucknow in the presence of Mr. Suresh Raina. Born in Ghaziabad, Mr. Raina has represented Uttar Pradesh at all levels in cricket.

Speaking on the announcement of the association with Uttar Pradesh Wizards,
Mr. Suresh Raina said, “It is a memorable day for me because today I am immensely proud to be associated with the national sport of our country, hockey, by joining UP Wizards. On this occasion, I would also like to take the opportunity of congratulating the Indian hockey team for bringing laurels to our nation by winning gold in the Asian games after a span of sixteen years and qualifying directly to the Olympics. Uttar Pradesh is a land of world class hockey gems like Major Dhyan Chand, K.D. Singh Babu and many more to follow and since my sports college days in Lucknow, I have a lot of friends who are hockey players and this further boosts up my pleasure of my association with hockey. I will make all possible endeavours and bring all sorts of support required for uplifting the game of hockey in the region.”

Speaking on the occasion, Mr. Abhijit Sarkar of Uttar Pradesh Wizards said, “Hockey is our national game and we are proud owner of UP Wizards. We are sure that association of Mr. Suresh Raina will make hockey more popular in the state and will attract more fan following for this sport. We will achieve greater laurels and success in the sport of hockey in the coming years and we are committed to the development of sports at all levels in the country.”

Speaking on the announcement, Ms. Elena Norman, CEO, Hockey India League said “Hockey India League welcomes Suresh Raina as the co-owner of Uttar Pradesh Wizards. It’s an honor to see cricket legends coming forward to support world’s only Hockey League and we are confident that the 3rd edition of Hero Hockey India League will take the excitement and expectations a notch higher, not only through the high adrenaline games but even the kind of association that it is garnering.”

Recently, the captain of Indian Cricket Team, Mr. Mahendra Singh Dhoni has also got associated with the Ranchi franchise team of Hockey India League as its co-owner. Hockey India League is world’s most prominent hockey league and is providing a world class platform to young Indian sporting talents of this great game by giving them an opportunity to nurture their skills under the supervision of talented and veteran sportsmen.

SAHARA SEBI: IMAGINE !

Let’s Imagine! Imagine Charlie Chaplin not being the legendary comedian that he was. Or Arnold Swarzeneger not the action icon we all know him as. Imagine Sachin Tendulkar not being the celebrated cricketer but a regular 9 to 5 school teacher or if electricity was never invented. What would it be like if Newton had never discovered the Law of Gravity or Einstein had not made those elaborate inventions?  What if Elvis continued driving trucks or Satyajit Ray wasn’t an illustrious story teller? Difficult and rather unfamiliar and absurd hypothesis! Would these people be still famous, brilliant and celebrated if they were not in their chosen professions? What would have our lives been like in the absence of these people or their world changing contributions to humanity? The answer can only be left to one’s imagination and with no certainty can anyone claim that they be who they are today or what would our existence been like, if these men were not true to their calling.

Now for a moment, let’s imagine a bit further. Would Sahara India have avoided the existential crisis, they are in today, had they not chosen to provide a sound, secure & lawful financial structure to a stratum of the society who has always stood ignored amongst the tall claims of social and economic development? What would the lives and future of these millions of depositors would have been like if they didn’t have a secure medium to invest and save and flourish? What would the future of the children growing in these millions of households have hold? Would they be educated? Would there be employment for the unemployed or the less skilled or the poor? Would there have been economic empowerment for the have nots who do not have the means or the sanction to even hold a bank account or a legitimate Id? Would the chief of Sahara India, Subrata Roy, have saved himself the witch hunt by a National Regulator or avoided jail had he chosen to create a lush empire and focused on serving himself rather than serving the people? Such a swarm of hypotheticals starting with just one simple question, “Imagine?”

Sadly, there are no simple answers. Only simple questions. The answers are complex, unfathomable and lead down to a road of nefarious possible motives, juxtapositions & outcomes. SEBI’s motives juxtaposed with the Court’s senseless brickbat blows on the Sahara Chief only adds insult to the common man’s understanding of productive regulation and fair justice. Even more dangerously, the imagination of SEBI and the Courts have taken a turn for the worse and seem to be more heavily invested in feeding their own egos, their illogic and mindless banter rather than using that imagination to serve and secure.

Currently, SEBI has been claiming that investor accounts provided by Sahara are fictitious and the regulator’s independent verification has failed to make any headway. SEBI so far has been able to repay less than 1 crore rupees to OFCD investors even though  its been 18 months since Sahara deposited 5,120 crore rupees with the market watchdog. Interestingly, in 2008, Sahara had paid back around 4 crore depositors under strict supervision of Reserve Bank of India. The central bank, then, did not stumble upon any such fictitious account and the OFCD issue had almost same set of investors. So is SEBI imagining these investors as fictitious or is it disguising its incompetence. To further add to the comedy of errors, the Supreme Court has expressed its displeasure over SEBI’s tardy pace in verifying these investor accounts in Sahara’s OFCD issue. I can only imagine the embarrassment the courts must be facing at the hands of the regulator’s malfunction. And who is paying the price for all this mockery. The innocent, the lawful and the poor!

Let’s tax our imagination one more time and explore another set premise. What if Sahara is innocent? What if the Sahara supremo is being wrongfully accused and punished? Is SEBI acting in the best interest of the depositors or is it blinded by its punitive sense of dominion? What would it be like if SEBI realized and acknowledged that these investors in question are for real? What would it be like if there was no Sahara to begin with? Are these questions that have real and heavy implications or are they just plain rhetoric?

The answers can only be left to unfold as time and events pass by. The outcomes would be real and the consequences can either set unhealthy & dire precedents or can pave way to a truthful, mindful and fair premise. Just IMAGINE..!!!

VIEW & COUNTER-VIEW SAHARA-SEBI STANDOFF

The Supreme Court is set to hear Sahara chief Subrata Roy’s petition on Tuesday. Sahara has raised some points over its legal battle with stock market regulator Sebi



    Sahara says it has already paid 93% of the investors. Per investor average deposit is of 8,400. Hence, it can be repaid in cash as per law 
    In last 17 months, Sebi repaid only 1 cr and is holding 5619 cr (including interest), argues Sahara 
    No verification process has been started by Sebi in the last 17 months, disobeying court’s August 31, 2012 order, the company says 
    Sahara offered guarantee of the entire amount through bank trustee security; but when it was rejected, the company says it offered irrevocable bank guarantee. This has not been accepted 
    At the heart of the matter lies Sebi’s demand, under directions of the Supreme Court, of an additional 20,000 crore along with 15% interest to investors 
    The company says Sebi has alleged that Sahara’s investors are fictitious and untraceable 

    Sahara says that in 2008, it had repaid around 4 crore depositors under supervision of the Reserve Bank of India 
    The company says in response to Sebi’s assertion that many of the 20,000 letters to depositors didn’t elicit a response, Sahara had submitted affidavits and KYC documents confirming their existence 
    Sahara says it remains Sebi’s responsibility to ascertain the authenticity of its claim that it has repaid most of their money 

    If Sebi continues to insist that investors do not exist, then, by the same logic, the regulating body — born out of the specific mandate of protecting investors — also ceases to have any further stake or role to play in the case, the company said in a statement 
    Sahara says a proper verification process has not been implemented to ascertain the existence of its depositors — despite conclusive evidence forwarded to Sebi in the form of original documents, repayment vouchers and receipts 
    Sahara says as a market regulator, Sebi does not have the power to regulate unlisted entities. Sebi is looking to sell properties belonging to third parties which have been kept as security with Sebi, even when it has no authority to effect any such sale without the consent of the titleholders of the properties