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Moneylife » Companies & Sectors » Company News & Trends » Fallout of Sahara’s Defiance

Fallout of Sahara’s Defiance

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Sucheta Dalal | 25/12/2012 10:56 AM | 

Sahara companies, MPS Greenery, sahara, sahara India, sahara pariwar, SEBI, SEBI India, Supreme court sahara,

Cocking a snook at multiple layers of regulation and oversight, dubious schemes from Sahara to MPG Greenery are thriving

At the time of writing this column, the Sahara Pariwar continues with its non-stop attempts to deny payment liabilities and avoid providing identity proof of the lakhs of people who have allegedly subscribed to a variety of its financial instruments.

Last fortnight, I wrote that Sahara, confident of its broad-spectrum political backing, is the rare organisation with the temerity to issue massive, ungrammatical and jingoistic advertisements in the media, on the eve of important Supreme Court (SC) hearings. I also said that “most likely, Sahara will continue to deny that any more payments or disclosures are even due. It remains to be seen if the SC reacts to Sahara flouting the detailed repayment and identification process outlined in its 31st August...


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