Eow has registered an FIR in the Sahara land scam.
EOW (Economic Offenses Cell), including Subrata Roy’s son Seemaanto Roy, registered an FIR on Friday after investigation in the Sahara land scam in Madhya Pradesh. They are accused of selling 310 acres of land worth 1000 crores of Bhopal, Jabalpur and Katni for 98 crores. Hostility
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Three The Supreme Court guideline was also not followed in the case of selling Sahara land in cities. The group also did not deposit the amount of property sales in the Sebi-Sahara refund account and embezzled 72.82 crores.
Whose role is there?
- Corporate Control Management Head (CCM) Frontier Roy was found directly involved in the decisions of land sales of Jabalpur and Katni.
- DMW Bhopal’s DGM JB Roy had an active role in the financial transactions and decisions of the land deal.
- Deputy Managing Worker OP Srivastava was found to be the head of Sahara’s Land Division in the decisions of the Sagar Bhoomi deal.
Fraud done in these two ways
- The entire amount of sales in Bhopal and Sagar 62.52 crore was not deposited in the Sebi-SAHARA account.
- In Jabalpur, Katni and Gwalior, 10.29 crore was rigged through illegal cuttings.
Land sold, did not return money to investors Even after selling Sahara land, those investing in Sahara did not get money. EOW started an investigation in the month of February this year by registering a PE to buy the land of Sahara Group by these companies. In the case, EOW has registered an FIR after questioning the buyer side and 9 people from the seller side.
The amount was to be deposited in the Sebi-Sahara refund account Land was purchased by Sahara India Real Estate Corporation Limited and Sahara Housing Corporation Investment Group to raise money from investors in many cities to make Sahara City.
In 2014, the Sahara Group was allowed by the Supreme Court and (Securities and Exchange Board of India) to sell the company’s property to return the amount of investors.
According to the Supreme Court order, the land deal limit was fixed at a maximum of 90 percent or more.
The permission to sell the property was given on the condition that the money will be deposited directly by the buyer in the SEBI-Sahara refund account number 01221011000374 of Bank of India in Mumbai.
Sahara Group deposited money in rock companies According to the EOW, according to the order of the Supreme Court, the rule of depositing the money in the SEBI-Sahara refund account by selling land in Bhopal has also been violated.
Sahara Group deposited these rupees in the accounts of Sahara India Real Estate Limited, Sahara Housing Investment Corporation and private rock companies.
Buyer companies said-we are not involved in fraud In the Sahara case, land buyer Cenap Real Estate Private Limited Jabalpur and Nyasa Devuild Private Limited Mumbai have issued a statement through their lawyer Siddharth Shukla. He has said that the lands located in Katni, Jabalpur and Bhopal of companies belonging to Sahara Group were legally purchased as per the Supreme Court order. According to the order of the Supreme Court, it was the responsibility of the seller Sahara Group to deposit the amount received from the sale of properties in SEBI-Sahara account.
The lawyer said- will fully support the investigation Advocate Siddharth Shukla said that the District Collector Guideline has been paid by banking channels and checks. TDS was also cut. My clients are not involved in any kind of fraud and illegal work. If there is any investigation related to the purchase of the land, then my clients will cooperate fully.
Own land owned by MLA’s family The Cenep Real Estate Private Limited is owned by the family of former minister and BJP MLA Sanjay Pathak. According to the documents present in the Registrar of Company (ROC), the company has 50% shares with Nirmala Pathak (mother) and 50% shares with Yash Pathak (son). The preferred shares of this company are with Euro Prateik Ispat Limited.
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