1– Founded by Subrata Roy in 1978 as a financial services conglomerate.2– Initially started with real estate and housing projects.
Diverse Business Ventures
1– Offered high-return investment schemes, attracting millions of investors across India.2– Attracted attention for its ‘Sahara India Pariwar Bonds’ and 'Sahara Q Shop'.
Controversies and Legal Troubles
1– Allegations of financial irregularities and non-compliance with regulations surfaced.2– Legal battles with SEBI (Securities and Exchange Board of India) over the issue of unlisted securities.
Imprisonment and Legal Proceedings
1– Subrata Roy was arrested in 2014 due to non-compliance with court orders related to the repayment of funds to investors.2– Spent a significant period in judicial custody.
Asset Seizure and Liquidation
1– Sahara's assets, including properties and bank accounts, were seized by authorities.2– Court-ordered liquidation of assets to repay investors.
Challenges and Downfall
1– Struggled to repay investors' funds, leading to financial turmoil.2– Legal battles, asset seizures, and inability to comply with court orders contributed to the downfall of Sahara India Parivar.
Current Status
1– Subrata Roy was released on parole, and efforts to liquidate assets continue to repay investors.2– The case remains one of the most high-profile legal and financial sagas in India's corporate history.
DEATH
Subrata Roy, chief of Sahara Group, passed aged 75, bringing attention back to the over ₹20,000 crore in undistributed funds held by Sebi.