The Sahara India Scheme is one of the most popular and well-known schemes in India. It is a voluntary, long-term savings scheme that provides individuals with an opportunity to save for their future. The scheme had a number of attractive features, including a fixed interest rate, a wide range of investment options, and a flexible tenure.
If you’re one of the millions of people who invested in the Sahara India Scheme, you may be wondering what’s going on and whether or not you’ll get your money back. This blog post will give you all the information you need to know about the scheme, as well as the latest refund status. Keep reading to find out more!
About Sahara India
Sahara India is a conglomerate established in 1978 by Sahara India director Subrata Roy. It has interests in a variety of sectors, including media, real estate, and hospitality. The company is based in India and has been mired in controversy for several years.
The Sahara India Group company came under scrutiny in the early 2010s for allegedly running a Ponzi scheme. A Ponzi scheme is an investment scam where money from new investors is used to pay returns to existing investors.
Sahara India promised investors of returns at an interest rate of 15% per year. The company then used the money to buy luxury items for its owners, rather than investing it.
In 2012, the Securities and Exchange Board of India (SEBI) filed a lawsuit against Sahara India, alleging that it defrauded investors of $3 billion.
The case is still ongoing, but in the meantime, many people are wondering what will happen to their Sahara India investment.
What is the Current Sahara India Case Status?
The SEBI lawsuit against Sahara India is still ongoing. In 2017, the Supreme Court of India ordered Sahara India to refund $3 billion to investors. To date, Sahara India has refunded some amount of money to its investors.
Even some people got the present status of their case for the Sahara India itself by writing them at the Sahara India email id – firstname.lastname@example.org. But Investors who are waiting for a refund can check the status of their refund online. The Sahara India website provides updates on the status of refunds. But due to downtime in the server, the letters are flooding in at the Sahara India address seeking their payback.
Sahara India Challenges
Since the Sahara India Embargo imposed, Sahara India is currently facing a number of challenges. In addition to the ongoing Securities and Exchange Board of India lawsuit, the company is also dealing with a slowdown in its businesses.
In 2019, Sahara India’s media business reported a loss of Rs 1 billion (US$14 million). The company’s hospitality business has also been hit hard by the COVID-19 pandemic.
As a result of these challenges, Sahara India’s net worth has decreased significantly in recent years. In 2020, Forbes estimated the company’s net worth to be $1.6 billion. This is down from an estimated Sahara Group India net worth of $11 billion in 2014.
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What will Happen to Sahara India’s Assets?
It is still unclear what will happen to Sahara India’s assets. The company has a number of high-value assets, including the Plaza Hotel in New York and the Grosvenor House Hotel in London.
Such Sahara India investment could be sold off to raise money to refund investors. However, it is also possible that the assets will be seized by the Indian government if Sahara India is unable to refund the money it owes to investors.
The Sahara India Scheme was a scheme but with some shortcomings turned out to be a failure in some aspects. However, there is a ray of hope for those who invested in the scheme as they may be able to get refunds. If you have invested in the Sahara India Scheme, it is important to keep track of the refund status and contact the authorities if you do not receive your refund.
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