Deepak kumar sharma (Govt. job) (2946 Points)
26 September 2012Recently the Supreme Court ordered Sahara to repay $4 billion (estimated) to up to almost 30 million investors plus interest stating two schemes of sahara illegal.
Sahara offers to double money in five years whereas banks offers same in more than 8 years.
Sahara’s business model is not transparent. It is not listed and its balance sheet is not visible to ordinary people. Is it safe to invest in it?
Have anyone has good or bad experience with investment in shara schemes?
Sahara tried to bypass Sebi while making the OFCD issues. Second, they tried to pass off a public issue as a private placement. Third, they planned to keep the issues open indefinitely to raise Rs 20,000 crore in each company. Fourth, the company had not complied with even the basics of Sebi’s investor protection rules. So, how can investing be safe in such a company ? As I am a Company Secretary, I know the securities laws, so it's quite natural that I would stay away from such risky investments. Those who had invested were ordinary investors, who are generally unaware of Securities laws.
Deepak kumar sharma
(Govt. job)
(2946 Points)
Replied 27 September 2012
But since sahara is a great group, Its cricket sponcerships, shahara city projects, huge cash balances and large land acquisitions and large network of centers, agents etc. are make people to believe on it.
If its so risky then why Govt. allow him to run investment schemes? There customers mostly comes from villages where no banking facilities are available.
CAclubindia
