Ujjain Economic Offenses Wing (EOW) has registered a case against 44 others associated with the company, including Sahara Group's chief Subroto Rai, on charges of cheating investors.
It is alleged that five companies of the group grabbed about Rs 13 crore from over 3500 investors of Ujjain, Ratlam, Shajapur, Mandsaur, Agar, Malwa, Alot of the division. Sahara chief Subroto Rai and his wife Swapna Rai, chairman and director have been accused in the case.
More than three and a half thousand investors of Ujjain division invested Rs 10,63,75,855 rupees in five group companies during the year 2011 to 2022 through different companies of Sahara. About 152 people from Ujjain, Shajapur, Agar and Alot complained to the EOW alleging that the company deposited money in the name of investment.
At the end of the time period, the said amount including interest amounted to Rs 13 crore 59 lakh 89 thousand 580, but the company was not returning the amount even after efforts. After investigation in the matter, EOW Ujjain started investigation by registering a case against Sahara chief Subroto Rai, his wife Swapna Rai and the chairman and operators of companies under section 409,420,120B6(1) of the IPC.
Five companies, Sahara Credit Co-Operative Society Ltd., Star Multipurpose Co-Operative Society Ltd., Saharian Universal Multipurpose Society Ltd., Sahara Q Shop Unique Product Range Ltd., Sahara Q Gold Mart Ltd.
EOW SP Dilip Soni said that between 2011 and 2020, an amount of more than 13 crores was deposited by the investors in the form of monthly and fixed deposits at different times, but criminal conspiracy was hatched by the operators of the company. Thousands of investors have been cheated and embezzled by not returning the tax amount. In this case, the board of directors and executives of the company's Lucknow, Gomti Nagar, Fatehpur, Jehanabad, Varanasi, Aliganj, Jankipuram, Jhansi, Bhuj, Ahmedabad, Bhubaneshwar, Jaipur, Jodhpur, Mumbai, Kandivali, Jharkhand, Bangalore, Hyderabad, Madurai, New Delhi Case has been registered against 44 accused. There is a possibility of increasing the number of accused in the case.