The ministry assigned to SFIO, on October 31, 2018, the investigation into the affairs of Sahara Q Shop Unique Products Range Ltd (SQSUPRL), Sahara Q Gold Mart Ltd and Sahara Housing Investment Corporation Ltd
Sahara India Group companies are under the probe of the Serious Fraud Investigation Office and as on date, the agency has not moved any application for attachment of properties in the case, according to the government. In a written reply in the Lok Sabha to a question on whether cases of financial fraud by the Sahara India Group companies are under investigation of SFIO, Corporate Affairs Minister Nirmala Sitharaman on Monday replied in the affirmative.
The ministry assigned to SFIO, on October 31, 2018, the investigation into the affairs of Sahara Q Shop Unique Products Range Ltd (SQSUPRL), Sahara Q Gold Mart Ltd and Sahara Housing Investment Corporation Ltd. Further, on the request of SFIO, the corporate affairs ministry assigned the investigation of affairs of more group companies on October 27, 2020. They are Aamby Valley Ltd, Qing Ambay City Developers Corporation Ltd, Sahara India Commercial Corporation Ltd, Sahara Prime City Ltd, Sahara India Financial Corporation Ltd and Sahara India Real Estate Corporation Ltd, as per the written reply.
On whether the government is planning to seize all the properties of Sahara India Group companies and their owners, the minister said that as of date, SFIO has not moved any application for attachment of properties in this case. However, the Securities and Exchange Board of India (SEBI) has informed that the Hon'ble Supreme Court has passed various orders in respect to two Sahara Group Companies namely Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL), she noted.
To a query on whether the government proposes to arrest the Sahara chief as he failed to return the investments to the public/SEBI instead indulged in full page newspapers advertisements to fool the government/public and if so, the action taken by the government, the minister said, "SFIO has not made any arrest in the matter so far."
"As per information provided by the directors in their DIN applications filed with MCA, Shri Subrata Roy Sahara, Smt Swapna Roy, Shri Ashok Roy Choudhary and Shri Joy Broto Roy have reported that they are Indian citizens. Smt S Roy has also indicated in her DIN application that she is resident of Macedonia," the minister said.
This was in response to a query on whether the government is aware that the family of Sahara chief have taken citizenship in a foreign country, if so, the reaction of the government.