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Bihar govt. to take action against Sahara India under relevant act
Bihar

Bihar govt. to take action against Sahara India under relevant act

Agency News

Patna, Jul 22 : Bihar deputy chief minister Sushil Kumar Modi today said the state government would take action against Sahara India group under Bihar Protection of Interest of Depositors Act, 2002 if it failed to return money of its depositors.

Replying to a short notice question of RJD member Kumar Sarvjeet in the state assembly, Mr Modi said three societies of Sahara group were accepting deposits for investments in various schemes. He said all these three societies were registered by the Centre adding these three societies had the basic responsibility for accepting deposits and making payment of mature money.

He said, there was no role of third party in it despite it Bihar government at its level was making attempts to ensure all investors got back their deposit money.  The deputy chief minister said nearly 6,000 complaints were received against Sahara group in cases related to payment of mature money, out of which only 2,503 cases had been disposed. He said maximum 3,556 cases were received from Patna district and a payment of more than Rs 18.36 crore had been paid to investors through disposal of 1,982 cases. Review meetings are regularly being held with representatives of Sahara India even as the issue was being supervised at the departmental level too.

Mr Modi said in the event of non-payment of money to investors, district magistrates had been directed to take action against Sahara India under Bihar Protection of Interest of Depositors (in Financial Establishments) Act, 2012 and amended acts of 2013 and 2017. (UNI)