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Sahara group issue UPSC NOTE

 


  • The Sahara group, a business conglomerate, was mired in financial embezzlement and under investigation by multiple agencies since 2008.

  • The group had raised ₹80,000 crore from 2.76 crore small-time investors across 26 States.

  • The Union government set up the Central Registrar of Cooperative Societies (CRCS) portal to facilitate refunds for small investors in Sahara companies, offering a maximum refund of ₹10,000 per investor.

  • The Ministry of Cooperation plans to return at least ₹10,000 to each investor from a ₹5,000-crore corpus.

  • The rest of the refund amount will be pursued through the Supreme Court.

  • The portal has been set up with multiple layers of checks to ensure transparency and prevent irregularities.

  • The initiative is aimed at helping small-time investors who have been affected by scams like this.

  • Investors had received promised returns until 2017-18, after which the returns stopped.

  • Sahara's founder, Mr. Roy, was arrested by the Enforcement Directorate (ED) in March 2014.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Sahara group issue UPSC NOTE
Sahara group issue UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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