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Subrata Roy , founder of Sahara
Introduction
• Sahara India Pariwar an Indian conglomerate company established in
1978 headquarter in Lucknow
• Diversified business in Finance, Housing & Infrastructures, media &
entertainment, consumer merchandise retail, etc.
• Peak of success in very short period
• Was sponsor of Indian Cricket team, Indian Hockey team and had 42%
stake in Force India F1.
• Once Sahara was listed in top 100 trusted brands of India.
• Second largest employer of India
Sahara Scam
• Sahara scam is mainly associated with two companies of Sahara
Group; Sahara India Real Estate Corporation Ltd. (SIRECL) & Sahara
Housing Investment Corporation Ltd. (SHICL)
TERMS TO BE UNDERSTOOD
√ IPO: Initial Public Offering, process through which a company issues
shares to the pubic for the very fist time.
√ DRHP: Draft Red Herring Prospectus is the Biodata of the company
and it contains all information of the company like Financial
Information, Objectives, Promoters and Management details, past
performance, Capital Structure, Issue Information etc. After deeply
analyzing the DRHP, the SEBI decides, whether to grant the permission
to the company or not to get listed.
• 30th September 2009, Sahara Prime City which was a part of Sahara Group
submitted DRHP for issue of IPO.
• After analyzing DRHP, SEBI found SIRECL & SHICL has raised fund through illegal
manner.
• After a few days investigation SEBI received a complaint mentioning these
companies used OFCD in wrong way.
*ofcd: Optionally Fully Convertible Debentures, a type of debenture in which the investor has the
option to convert the debenture to equity shares and become the share holder. Company need
permission for issue of OFCD, less than 50 units, permission from ROC and more than 50 form SEBI
• Sahara group raised 20000 Cr funds from 2.5Cr investors using OFCD without
taking permission from SEBI.
• SEBI asked to repay to the investors within 3 months but Sahara Group failed to
do so.
• Case was taken into the Supreme Court, ordered SG to send details of investors to
SEBI, 127 trucks were sent to SEBI with all the documents of the ivestors
• After analyzing the documents, SEBI found the documents were incomplete and
unrealistic hence this matter can be of MONEY LAUNDRY
Thank
You

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Sahara scam

  • 1. Subrata Roy , founder of Sahara
  • 2. Introduction • Sahara India Pariwar an Indian conglomerate company established in 1978 headquarter in Lucknow • Diversified business in Finance, Housing & Infrastructures, media & entertainment, consumer merchandise retail, etc. • Peak of success in very short period • Was sponsor of Indian Cricket team, Indian Hockey team and had 42% stake in Force India F1. • Once Sahara was listed in top 100 trusted brands of India. • Second largest employer of India
  • 3. Sahara Scam • Sahara scam is mainly associated with two companies of Sahara Group; Sahara India Real Estate Corporation Ltd. (SIRECL) & Sahara Housing Investment Corporation Ltd. (SHICL) TERMS TO BE UNDERSTOOD √ IPO: Initial Public Offering, process through which a company issues shares to the pubic for the very fist time. √ DRHP: Draft Red Herring Prospectus is the Biodata of the company and it contains all information of the company like Financial Information, Objectives, Promoters and Management details, past performance, Capital Structure, Issue Information etc. After deeply analyzing the DRHP, the SEBI decides, whether to grant the permission to the company or not to get listed.
  • 4. • 30th September 2009, Sahara Prime City which was a part of Sahara Group submitted DRHP for issue of IPO. • After analyzing DRHP, SEBI found SIRECL & SHICL has raised fund through illegal manner. • After a few days investigation SEBI received a complaint mentioning these companies used OFCD in wrong way. *ofcd: Optionally Fully Convertible Debentures, a type of debenture in which the investor has the option to convert the debenture to equity shares and become the share holder. Company need permission for issue of OFCD, less than 50 units, permission from ROC and more than 50 form SEBI • Sahara group raised 20000 Cr funds from 2.5Cr investors using OFCD without taking permission from SEBI. • SEBI asked to repay to the investors within 3 months but Sahara Group failed to do so.
  • 5. • Case was taken into the Supreme Court, ordered SG to send details of investors to SEBI, 127 trucks were sent to SEBI with all the documents of the ivestors • After analyzing the documents, SEBI found the documents were incomplete and unrealistic hence this matter can be of MONEY LAUNDRY