Civil Procedure Code (CPC)

Reclaiming illegally taken money from SAHARA


I recently learned that the company SAHARA India is raising money on the name of its different wings while not holding an authorization from the financial bodies of INDIA like SEBI Or RBI. RBI & SEBI both came up against this company & issued circulars & statements which clearly prohibits this company to raise any further funds from public & also to return the amount already collected from the public. (Refer the article at below Link and also the links mentioned in this article)

http://www.firstpost.com/business/will-subrata-roys-friends-shield-him-from-rbi-sebi-30905.html?utm_source=MC_HOME

Unaware of the rulings, My dad invested in the schemes mentioned by the company. Its a question of his life-time's savings. I want your help & guidance to understand the procedure to claim the amounts from the company based on the RBI & SEBI rulings.

Regards

Padyumn

 
Reply   
 
FIN

Read the terms and conditions of the scheme, and note what the exit option is. If there is one without any penalty or deductions, and you do not see any hassles, take back your money.

If you are not facilitated by the company and you do not see any recourse/remedy:

-Obtain the copies of the circulars of RBI, SEBI and check with them if these have not been withdrawn.

You can either visit them or speak to them at their nearest office.

-Once you have confirmed, you can issue a notice to the company for illegal/unfair practices, since they are not authorized by the regulators, and ask for refund of money + interest.

-If this does not fetch you any result, you have the option of lodging a complaint with consumer forum, or courts of law.

It shall be appropriate to show all documents to a competent lawyer/law firm before you proceed to take any action.

 

 
Reply   
 


Email at: sssfi2016@gmail.com - for Practical Solutions to 498a Dowry issues Divorce Property Departmental Inquiry NPA Dishonoured Cheques Corporate Laws etc.

Dear Pradumn,

 

If the money is being raised in the name of some other registered company, not related to Sahara Group, you may have to feel helpless, unless you can prove any link between the said company with Sahara Group of companies or the intentions of the fund raising company to illegally raise funds just to shield Mr. Subroto Roy. Articles do appear, but proof must be there to get hold of the culprit.

 

Yours

SUPER SPECIALTY SERVICES FOUNDATION (INDIA)

 

 
Reply   
 

Advice after 4 years!
 
Reply   
 
Email at: sssfi2016@gmail.com - for Practical Solutions to 498a Dowry issues Divorce Property Departmental Inquiry NPA Dishonoured Cheques Corporate Laws etc.

The query was not searched just for answering. It was available on the page of some other query under the the caption, "Related Threads." Anyway, sorry, could not see the posting period of the query.

 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

  Search Forum








×

Menu

Post a Suggestion for LCI Team
Post a Legal Query
Civil Litigation Course     |    x