Sahara Q Shop Under SFIO Lens; SEBI refunds Rs98.56 crore to 12,522 Investors of SIRECL, SHICL
Sahara group subsidiary Sahara Q Shop Unique Products Range Ltd is being probed by the Serious Fraud Investigation Office (SFIO) following complaints by 744 people, the Lok Sabha was informed. Separately, market regulator SEBI has refunded Rs98.56 crore, including interest to over 12,500 investors, shows the reply in the lower house.
 
In a written reply, Pon Radhakrishnan, minister of state for finance, said, "The registrar of companies (ROC) office at Mumbai has received 744 complaints against Sahara Q Shop. As per the recommendation from the ROC, the ministry of corporate affairs (MCA) has ordered investigation into the affairs of the company to be conducted by SFIO vide order dated 31 October 2018."
 
Replying on a question whether investments in other Sahara group companies, like Sahara Q Shop are covered by the Supreme Court's 31 August 2012 order, the minister replied in negative. He said, "The Supreme Court directed SEBI to make refunds to only those investors who invested in optionally fully convertible debentures (OFCDs) of Sahara India Real Estate Corp Ltd (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL).
 
As on March 2018, SEBI had received 15,146 application involving 43,405 accounts and refunded Rs98.56 crore, including an interest of Rs45.26 crore to 12,522 applicants involving 35,300 accounts, Mr Radhakrishnan informed the Lok Sabha.
 
Earlier on 31 October 2018, the market regulator had asked Sahara India Commercial Corp Ltd (SICCL) and its promoters, directors to refund with 15% interest per annum, amount collected from investors for investment in OFCDs of the company.
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    COMMENTS

    Lucky Thakur

    5 months ago

    Dear sir ji kab tak mileage humare paise

    Satish Kamble

    5 months ago

    Dear sir i don't have PACl issued bound ,but i have the recites,what should i do

    terence ds

    5 months ago

    Query
    Hello I am TERENCE
    My sister in law had submitted all the required documents to PACL office at the time of maturity 2 years back..but no money was received on submission
    Now there are physical PACL office in Mangalore
    She has submitted all the documents and haven't received Money yet
    Right now she has no proof to apply for claim
    What shall be the remedy ?
    Pls help us on the same ..

    PRAKASH RANJAN

    5 months ago

    SIR MY NAME IS CHANGE IN PAN CARD , WHAT SHOULD BE DO

    sindhu raj

    5 months ago

    When our money is refund our account. We check in online but its not active

    Parameshwar Chanagond

    5 months ago

    Goole

    Subramanian Arumugam

    6 months ago

    Sirs, In Stage 2, Bank Details, "name of the bank" column is not active and does not come active at all. Resulting to unable to complete the submission of my claim.

    REPLY

    balram

    In Reply to Subramanian Arumugam 6 months ago

    SAME ISSUE WITH ME

    Hadiya Prabhu

    6 months ago

    भुगतान न होने के कारण सहारा प्रबंधन और एरिया मैनेजर समेत 6 जनो के खिलाफ FIR दर्ज कराइ गयी हैं। || Sahara India Latest News||
    https://www.awnini.in/2019/02/sahara-q-shop-plan-sahara-india-latest-news-sebi.html?m=1

    PAWAN SUKHEN

    6 months ago

    If I don't have PAN card than ??

    Kishan Suthar

    6 months ago

    Refund

    Gurpreet Singh

    6 months ago

    tell me about webside i want fill my form regarding refund of this policy

    manya

    6 months ago

    Star World Research Indore based Advisory company done fraud with Many Innocent Investor. I want to focus this same infront of you. Me Manish Kumar Gour is proprietor of this fraud company. lot of complaints are pending against Star World Research in SEBI. still we are not getting any justice.

    Big scam in stock advisory company. please be alert from this fraud company. employee talk with fraud name and not proving legal information. illegal plans are given by employee of star world research. A big action required against this fraud company. The details of Company are as follows
    :STAR WORLD RESEARCH
    MANISH KUMAR GOUR PROP. STAR WORLD RESEARCH
    Registration No.-INA000005499
    [email protected]
    Telephone-07316544487
    Fax No.07316544487
    Address-PLOT NO. 42, FLAT 201, MR-3, INDORE, MADHYA PRADESH, 452001.

    very fraud company. please don't invest in this fraud company

    Watchoutinvestors.com Helps Avert Risk in Investing by Providing Timely Information About Regulatory Actions Across 35 Regulators and Investigation Agencies

    A majority of investors, who would like to research companies before investing their hard earned money struggle to find credible information on government websites, since it is not published in an easily accessible and searchable format.

     

    This is where services offered by watchoutinvestors.com come handy.

     

    Watchoutinvestors.com is a database on the regulatory actions taken by a slew of regulatory agencies against companies and market intermediaries, and corporate decisions to change their name or objects. It was started with the sole objective of benefitting investors by making information about regulatory action available in the public domain.

     

    It was set up in 2003 with support from the Investor Education and Protection Fund and over the next 15 years has grown into a giant resource, comprising data of 4.08 lakh entities, including 2.43 lakh corporate entities and 1.64 lakh unique individuals. It is today a must-use tool for serious researchers and investors in the capital market; as also for regulatory agencies who are often clueless about actions by other regulators, or the previous names and avatars in which companies existed under the head ’name changes'.

     

    Watchoutinvestors.com covers 35 regulators, ministries and government authorities, including Association of Mutual Funds of India (AMFI), Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Central Board of Excise & Customs (CBEC), Central Bureau of Investigation (CBI) and Institute of Chartered Accountants of India (ICAI) among others.

     

    The portal also tracks actions like arbitration award, easy exit scheme (MCA), official liquidators, and consent orders (SEBI).

     

    Watchoutinvestors.com provides search facility for identifying action against persons or entities. Subscriber can view charges or actions against any entity based on regulator, charge or action. The portal also allows to create personal watch out list for the subscriber.

     

    This unique services that helps investors to keep track on defaults, non-compliance, regulatory action, and legal actions against corporates.

     

    This website and its service can be used by individual investors to get information about entities or persons before making any new investment, or to review existing portfolio or while dealing with them in any manner. Corporates and market participants can also use watchoutinvestors.com for due diligence.

     

     

    Delhi-based Prime Investors Association & League, a not-for-profit organisation runs watchoutinvestors.com, which is updated on a daily basis.

     

    Watchoutinvestors.com, is the world’s only national web-based registry covering entities including companies, intermediaries and individuals who, have been indicted for an economic default, have been non-compliant of laws and guidelines and are no longer in the specified activity.

     

    "This information which was disorganised, difficult-to-use and was spread across a large number of sources like websites, databases, publications, notifications and orders of the government and of other organisations, agencies, courts of law, tribunals and commissions, has now been aggregated, indexed, standardised, reformatted and re-presented on our website in a form and manner that can be accessed in a user friendly manner," watchoutinvestors.com, says.

     

    There are 3.87 lakh companies and individuals listed as non-compliant under the MCA. This includes, 1.30 lakh corporate entities and 2.57 lakh individuals, who have defaulted in compliance, reveals data compiled by watchoutinvestors.com.

     

    The website has also listed 4.61 lakh persons disqualified from directorships by MCA as also the associated companies (for non-compliance of the Section 164 (2) (a) of The Companies Act). This includes 3.10 lakh company directors and 1.50 directors of associated companies disqualified by the MCA.

     

    It has a list of 4,899 members of parliament (MPs) from Rajya Sabha and Lok Sabha, members of state legislative assemblies and members of state legislative councils under the politically exposed persons.

     

    Between 2003 to 2012, watchoutinvestors.com was supported by investor education fund of the ministry of corporate affairs (MCA). After 2012, it is co-sponsored by the National Stock Exchange (NSE) and BSE.

     

    Watchoutinvestors.com offers its services on an annual subscription basis. Its annual plan ranges from Rs75,000 to Rs1.45 lakh. This, excludes search facility based on permanent account number (PAN), director identity number (DIN) or company identity number (CIN), for which it charges Rs30,000 extra.

     

    It is a pity that this service was started by the Investor Education and Protection Fund (IEPF) administered by the ministry of corporate affairs (MCA). Unfortunately, IEPF stopped supporting watchoutInvestors.com, forcing the service to charge a fee from users. But considering the value in the service it offers, the subscription charges are reasonable, especially for those who take an effort to study before investing their hard-earned money.

     

     

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    COMMENTS

    Sudeep Rajbhar

    5 months ago

    Sir I am wrote documents uploading what can I do please sir help me?

    chinju Haridas

    5 months ago

    What step we have to take if we don't have bond.. because we have already submitted the bonds in the PACL office long back. Now only the acknowledgement paper with us. Can we upload the acknowledgement paper instead of bond while claiming our amount. Expecting your reply..

    Hitesh Chawla

    5 months ago

    I have uploaded file in colour form.
    Will i get my money.

    uday powar

    5 months ago

    prosecutor for cdpp certificate refund application online
    No receipt are allot from pacl only certificate i have

    uday powar

    5 months ago

    sir i have allotment letter of plot, also have registration latter no. started with U071******, no receipt Numbers please tel me how i apply online refund...

    Saidurga Internet

    6 months ago

    i need website clearly how to register

    Thangaraj velu

    6 months ago

    Unable to register Or open account in PACL website. Whether possible without registration how we upload required document in PACL .

    Ralph Rau

    8 months ago

    This should be a free service.

    Are the people at the top of our government not investing in the markets ?

    Perhaps if they were personally invested the markets would be better regulated starting with SEBI.

    The move to restrain AMC fees is to be welcomed though !

    REPLY

    Sucheta Dalal

    In Reply to Ralph Rau 6 months ago

    Why should this be a free service when there is a cost attached to maintaining the database? However, it should be funded by investor education funds -- if they give adequate funding the site will surely be free!

    Aditya G

    8 months ago

    I'm afraid the costs are prohibitive for the average, middle-class investor. I do have one query: does Watchoutinvestors use API of databases like MCA? Did MCA grant them "exclusive" access to their root database?

    This looks like a total con to me -- create something under the auspices of IEPF, support for 2-3 years, grant them exclusive root access, then stop support, and then charge a bomb to end users who have "latched" on to their ecosystem.

    IDK. Just thinking out loud.

    PS: I don't deny Watchoutinvestors value to end users. But it can be done by anyone with API/root access -- pretty much like what NSE/BSE has done by giving API to software companies for updating price data, etc,.

    REPLY

    Gaurav Madan

    In Reply to Aditya G 8 months ago

    I agree to Aditya that the charges are prohibitive for retail individual investor. Watchoutinvestors is merely collating information from various sources it should not be priced very high. Further I believe the core objective of the website is in sync with IEPF objective, funding should continue to come from IEPF and ideally be near free for retail investors

    Sucheta Dalal

    In Reply to Gaurav Madan 8 months ago

    I agree that funding needs to come from IEPF -- that was the objective of IEPF. It should also come from SEBI's investor protection f und. The problem in India is that someone like Prithvi Haldea, who does the hard work of collecting, collating and cleaning data and putting it in a searchable database -- that too FREE and for public service -- is treated by the government and ministry like he is a beneficiary.

    People need to write and push IEPF to use the money for public benefit. IEPF also cut off funding to Midas Touch Investor Association's investor helpline that was successfully helping people get their Fixed deposits back for four year. Please read our articles and see the plight of senior citizens who have invested in FDs that have defaulted!!

    People need to rise and support organisations doing good work. Otherwise it is a lonely and fruitless battle!

    Raj

    In Reply to Sucheta Dalal 7 months ago

    Hi Sucheta,

    This is a very useful website indeed. However the website does not have a link to subscribe. I sent an email, but received no reply. How can a potential investor subscribe when there is no link to subscribe?

    Thangaraj velu

    In Reply to Sucheta Dalal 6 months ago

    Hi Sucheta Dalal Madam,
    What is IEPF , How we communicate to them our issues

    Sucheta Dalal

    In Reply to Thangaraj velu 6 months ago

    write to [email protected]

    Demat for Physical Shares, Securities Certificate: Deadline Extended to 1st April
    Giving some respite to investors, market regulator Securities and Exchange Board of India (SEBI) has extended the deadline to 1 April 2019 for converting physical shares and securities certificates in demat form. Earlier SEBI had fixed 5 December 2018 as deadline for the conversion of physical shares into demat.
     
    The decision to extend the mandatory dematerialisation of physical stocks came after several representations and requests were made by scores of investors still holding scrips in physical form, SEBI said in a statement.
     
    Earlier, in March this year, the market regulator had announced that securities and shares held in physical form will become illiquid after 5 December 2018 and anyone intending to trade physical shares will be able to do it only via a dematerialised or demat mode with a depository.
     
    The SEBI mandate to dematerialise physical shares does not apply in case of transmission or transposition of securities. However, if an investor needs to transfer or sell or trade shares then it has to be held in a dematerialised form with a depository.
     
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    User

    COMMENTS

    AMOL BATHE

    1 week ago

    मैने भी पीएसीएल मे INVESTMENT किया है . लेकीन REFUND CLAIM कैसे करना है और अब तो DUE DATE भी निकल गई है. तो क्या मै अब REFUND CLAIM नही कर सकता ?

    Arun chakkingalthody

    5 months ago

    sir,
    i have allready uploaded all documennts in color format and completed application process is there any problem regarding that

    Sagar kumar

    5 months ago

    sir pacl chek kaha se milega

    Neeraj Mittal

    8 months ago

    how to get share transfer stamps at remote places.

    K S Jegannathan

    8 months ago

    What is the solution for those who lost the share certificate?

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