Workers, investors of Sahara stage protest against SEBI – New Delhi News

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The staff and investors are linked to Sahara by means of some scheme or the opposite, and have been incomes from Sahara India for the previous 25-30 years. But as a result of embargo imposed on the whole Sahara Group by the Supreme Court over the previous eight years owing to the Sahara-SEBI dispute, a scenario of delay in funds has arisen, impacting their earnings in an enormous manner, they stated.

“So much so that our investors are not giving us new business as their old repayments are delayed. This has led to our income dwindling to near negligible. As a result, lakhs of our ‘karyakartas’ are now on the brink of starvation and unemployment,” they added.

Over the previous eight years, SEBI has repaid merely Rs 125 crore, with curiosity, regardless of taking out 4 rounds of commercials in regional and nationwide newspapers.

In a standing report submitted at the start of this yr with the Supreme Court, Sebi has acknowledged it.

In response to Sebi’s commercial printed on March 26, 2018, it acquired compensation purposes from 19,598 investors. These got here connected with the unique purposes. In response, SEBI repaid 16,663 purposes, which got here to Rs 125 crore with curiosity. This in itself exhibits that each one the investors did not method SEBI for compensation.

“But due to Sebi’s stubborn attitude, lakhs of Sahara karyakartas are facing darkness in their lives. When SEBI has no pending repayment left for any investor at present, it should submit an affidavit that it has no investors awaiting repayments. Then it may lead to the Supreme Court lifting the embargo placed over all the Sahara companies, and Sahara receiving the Rs 24,000 crore (with interest) from the Sahara-SEBI account. This will mean regular repayments to all the investors and depositors,” the protesters stated.

Disclaimer: This story is auto-aggregated by a pc program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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