‘Nobody will lose money invested in Sahara India’

Vadodara: Sahara India that is under the scanner after several investors from the city filed a complaint of cheating against them has said that it is looking into the matter and is in the process of finding an acceptable solution which can address the issue and the interests of their investors with the regulatory norms and company’s rules and regulations.

“In the reported case of Vadodara, nobody has lost any money and nobody shall ever lose money invested in Sahara. Sahara India Pariwar is an organisation, which for the past 40-year has always given highest priority to safeguarding the interests of its customers, depositors, investors and associates at all costs,” Sahara India said in an emailed statement.

The company said that many account holders have not even approached their branches for the payment. “However, in a small number of cases payments were delayed due to certain unavoidable reasons,” the statement read.

Sahara Group has time and again announced in public and also stated before the Supreme Court that it has three times assets compared to its liabilities. As on March 31, 2016, Sahara Group’s total liability (including accrued interests) is of Rs 64,226 crore only, while its assets are Rs 1,77,993 crore, and this ratio is not much different today,’ the company said.

The Vadodara crime branch has filed a complaint of cheating against Sahara India chairman Subroto Roy and other directors after the investors failed to get returns on their investment.