look news india
Rs. 362.91 crore given
The Union Minister said that Rs 362.91 crore has been distributed to 4,20,417 depositors of Sahara Group cooperative societies till July 16, 2024. The applications received on the portal will be processed after considering proper identification and deposit certificate. Details related to Sahara investors have been provided. Money of 10 crore investors is stuck in Sahara India's cooperative societies.
People of which states are facing more problems
Most of the investors whose money is stuck in Sahara are from states like Bihar, Jharkhand, Uttar Pradesh, Madhya Pradesh. The investors who did not get their money back demanded the government's intervention in the whole matter. Currently, only investors of Sahara Credit Cooperative Society Limited, Sahara Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited are eligible to apply.
What is the Sahara-SEBI dispute?
Actually, this dispute of Sahara is from the year 2009. Sahara's two companies Sahara Housing Corporation Limited and Sahara India Real Estate Corporation have offered to bring their IPO. As soon as the IPO came, Sahara's mistakes started getting exposed. SEBI saw that Sahara had raised Rs 24,000 crore in a wrong way. After this, investigation started and SEBI found irregularities. After this, SEBI asked Sahara to return the investors' money with interest. But this did not happen and then the matter got worse.