620 investors lost Rs 2.25cr in Sahara India’s scheme
TNN | Nov 22, 2018, 04:06 IST
Sahara India had conducted advertisement blitzkrieg in newspapers and televisions at the time of starting the companyVadodara: A total of 620 investors from the city have been conned under a scheme by Sahara Q Shop that was floated by Sahara India in 2011.
Crime branch sleuths said that the number of investors, who have lost their money, may increase in the coming days. The crime branch will also send summons Sahara India chairman Subroto Roy and other top officials of the company asking them to appearing before it for furnishing a reply.
“We contacted the agents who had accepted money for the investment scheme floated by Sahara India. All the agents through whom 625 persons invested in the scheme are now facing investors’ ire. The investors have lost about Rs 2.25 crore in the scheme,” said Jaydeepsinh Jadeja, deputy commissioner of police (crime). “
“Roy and other company officials will have to appear here and furnish reply,” Jadeja added.
Police have already arrested three local mangers of Sahara Q Shop Unique Product Ltd in connection with the case. Sahara Q Shop had accepted investments starting with Rs 12,500 from citizens. Police said that the Sahara India had conducted a countrywide advertisement blitzkrieg in newspapers and televisions against adulteration at the time of starting the company. They had brought in celebrities including Bollywood actors and cricketers for the advertisement through which the citizens were lured.
According to police, the investors were promised double returns on their investments at the end of six years. Attracted by the returns, many citizens invested their money in the scheme in 2012. Few months back when the maturity period arrived, the investors asked the company to return the money.
However, they were informed by local managers to divert their investments in Sahara Credit Cooperative Limited. Police said that the investors were told that if they will not divert their investments, their money will not be returned. The local managers were also handed over list of investors to convince them to divert their funds to Sahara Credit Cooperative Limited. The investors later approached the police to file a complaint.
Crime branch sleuths said that the number of investors, who have lost their money, may increase in the coming days. The crime branch will also send summons Sahara India chairman Subroto Roy and other top officials of the company asking them to appearing before it for furnishing a reply.
“We contacted the agents who had accepted money for the investment scheme floated by Sahara India. All the agents through whom 625 persons invested in the scheme are now facing investors’ ire. The investors have lost about Rs 2.25 crore in the scheme,” said Jaydeepsinh Jadeja, deputy commissioner of police (crime). “
“Roy and other company officials will have to appear here and furnish reply,” Jadeja added.
Police have already arrested three local mangers of Sahara Q Shop Unique Product Ltd in connection with the case. Sahara Q Shop had accepted investments starting with Rs 12,500 from citizens. Police said that the Sahara India had conducted a countrywide advertisement blitzkrieg in newspapers and televisions against adulteration at the time of starting the company. They had brought in celebrities including Bollywood actors and cricketers for the advertisement through which the citizens were lured.
According to police, the investors were promised double returns on their investments at the end of six years. Attracted by the returns, many citizens invested their money in the scheme in 2012. Few months back when the maturity period arrived, the investors asked the company to return the money.
However, they were informed by local managers to divert their investments in Sahara Credit Cooperative Limited. Police said that the investors were told that if they will not divert their investments, their money will not be returned. The local managers were also handed over list of investors to convince them to divert their funds to Sahara Credit Cooperative Limited. The investors later approached the police to file a complaint.
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