No dearth of con men ( and God men ) in our dear India. How horrifying and how horrible! Placed here, courtesy of my friends... reproduced a mail received today... SAHARA SAGA .. (by Mohan Guruswamy) .. Reproduced as received... Even if partially true, that would be a horrifying story. =================================================== Sahara Saga: Subroto Roy told the Supreme Court: if you listen to my story you will love me for it! I dont know about the Court, but I am beginning to love his gumption. Such a major cr..k strutted around with the high and mighty for so long. He was equally well represented in Court by a galaxy of highly paid lawyers. SAHARAS. Did you know? > > 1. Based on investors details submitted by Sahara, SEBI sent out 21000 letters: > - Only 280 responded. > - 7000 letters were returned with addressee not found. > > 2. Saharas claim the deposits as private placement. That is 3.07 crores of friends, families, associates and employees!!! No general public involved at all! > > 3. When the order wss passed, depository accounts in India totalled 15 million. The largest company in India has 4 million investors. Sahara had 30.7 million!! > > 4. The latest ad by Sahara talks about 80 million investors. India has about 250 million households. A third of India is below poverty line. That means every second household in India would be a Sahara investor. > > 5. The judgement was delivered in August 2012. Saharas claim in December that they have repaid 22885 Crores. That is repayment within 4 months. Hold your breath. They repaid in CASH. > > 6. The source of these 22885 crores, all CASH, is a mystery that they wouldnt disclose it even to SC. > > 7. The list of investors submitted to SEBI, on a cursory examination, included > - 5984 kalawatis > - 55 kalavatis at the same address > - A kalawati having the same address as Mairunnissa > - a kalawati being paid back on the same day multiple times > - 1433 Anirudh Singh, S/ O Hukum Singh > - One depositors name was Haridwar. > - An address was Jaipur, Nagpur, Maharashtra. > - Another address was Aurangabad, Lucknow, UP. > > 8. There are numerous instances of > - one person having hundreds of accounts, > - one account having multiple beneficiaries, > - one person with multiple address and > - one address having tens of individuals. > - There are some people whose claimed dues spread over multiple accounts run into crores of rupees. > - There are lacs of cases where addresses are untraceable, > - Also cases having innocuous addresses like national highways, and just names of villages, towns or roads etc. > > 9. Sahara claims to employ 12 lac employees. Applying the minimum Act Including PF, ESI, Bonus etc, the cost is 14000 per month. If i were to take different scales, the average would be 25000/month. That would be 36,000 Crores p.a of SALARIES!!! > > 10. And the PF dues on such salaries would be about 5000 crores/annum. EPFO did ask for the details as they scarcely match with their records and Saharas go to lucknow High Court and start another merry go round. > > 11. In SC, Saharas deposited a title deed of a 106 acre plot in Versova and claimed its worth at Rs.19300 Crores!! SEBI says it is not worth a penny, because it is in a mangrove and in a no construction zone. > > 12. Earlier, when RBI revised the rules for NBRFC, Saharas, claim to have repaid 73000 Crores, 4 years before maturity. Through Ads, they announce the same. > 0 > 13. Subrata Roy Sahara, in a full page ad challenged SEBI for a national TV debate, to settle the matter!!! > > 14. You would love this! In an ad recently, they declared a 60% increment across the board. Wouldnt you love to work with them? > > As Rajnikanth would have said Any doubt? =================================================== Cdr YVV
Posted on: Thu, 13 Mar 2014 06:04:12 +0000
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