Rahul Mehta Gandhinagar LsCandidate

Sat Jul 15 2017 11:28:51 GMT+0000 (Coordinated Universal Time)

What a sick joke and a sick circus ---- corrupt Supreme judges ask Sahara to pay Rs 12000 crore to SEBI that Sahara , as per (fake) allegations "stole" from investors !! Sahara gives some Rs 11000 crore !! And now SEBI says "they cant find original investors" !! And so bikau Financial Express editor says --- use this money to pay OTHER companies' investors who have become victim of fraud !!!
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If SEBI cant find even 1000 of lakhs of investors, who didnt get their money back, then it means ---- Sahara has indeed returned money back. Thats why investors with claims are NOT showing up,
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The mess is because videshi elitemen are bribing SCjs to give senseless judgments, bribing SEBI apex to make nonsensical claims and now they are bribing Express editors to write nonsense editortials !!!
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http://www.financialexpress.com/opinion/use-subrata-roy-led-sahara-group-money-to-pay-other-hapless-investors-since-sebi-cannot-find-original-depositors/759622/
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Use Subrata Roy led Sahara group money to pay other hapless investors since Sebi cannot find original depositors
Use Subrata Roy led Sahara group money to pay other hapless investors since Sebi cannot find original depositors
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Given how tough the Supreme Court (SC) has been with Sahara chairman Subroto Roy, chances are it will recover all the money it has asked the group to pay since the alternative is for Roy to go back to prison. Last week, SC gave Roy 15 days in which to deposit Rs 552 crore, failing which it would order the commencement of the auction process of Aamby Valley.
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The problem, however, as Mint points out, is that while Sahara may pay up all the money it collected from investors—two Sahara group firms had collected Rs 24,000 crore from 30 million investors—it is proving impossible to find these investors.
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According to Mint, while Sahara has already deposited Rs 11,798 crore so far—this has risen to Rs 14,487 crore thanks to the interest that has accrued on it—Sebi has managed to refund a mere Rs 85 crore to investors till the end of FY17; in FY15, a total of Rs 42 crore was repaid and this rose to Rs 55 crore according to Sebi’s annual report for FY16.
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Under the circumstances, presumably the government will have to start investigating whether the deposits were, in fact, benami.
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While doing so, the government should consider the possibility of using this money for repaying lakhs of investors who have lost their money in various dubious investment schemes such as Saradha and Rose Valley.
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Under normal circumstances, this cannot be done since the Sahara money has to be kept in an escrow account on the off-chance that a depositor, or an heir, turns up and claims the funds several decades later. But the government had, in the Companies Act, envisaged the possibility of investors not turning up to collect their dues. So, while companies are supposed to open ‘unpaid dividend accounts’ to deposit unclaimed dues, after a period of seven years of remaining unclaimed, these are to be transferred to the Investor Education and Protection Fund (IEPF) run by the central government—apart from unclaimed dividends, even unclaimed shares are to be transferred to this account.
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What a sheer nonsense !!!
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Saradha and Rose Valley were NOT Sahara companies. They had NOTHING to do with Sahara or Subhrato Roy or anyone from Sahara !! They were completely different people. So why should money obtained from Sahara or Roy be used to pay victims of those frauds?
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And SEBI cant find 30 million invetors? KYC of ALL investors were given by Sahara, along with proofs that the investors had given money and investors were REPAID FULL amount with full interest. So no wonder SEBI cant find an unpaid invetors --- there arent any except some Rs 55 crore !! In fact, I have never heard any Sahara investors that Sahara frauded them, I have come across 10s of random people who invested small money like Rs 500 per month and got back all their money.
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All in all,there was NO defrauding of investors. SEBI officials just cooked a 100% false case and SCjs knew it and they went along.
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This shows what happens to a country when foreign elitemen take over...

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