The Last Journey of Rev. Smt. Chhabi Roy, Mother of Saharasri Subrata Roy Sahara

The last rites of Reverend Smt. Chhabi Roy, mother of Saharasri Subrata Roy Sahara, has been performed yesterday dated 7th May 2016, in Baikunth Dham, Lucknow.
The last journey of Reverend Smt. Chhabi Roy has been attended by more than 50,000 people, including the family members of Sahara India Pariwar and the well wishers, including Shri Akhilesh Yadav - Hon'ble Chief Minister, Uttar Pradesh, Shri Shivpal Singh Yadav - Cabinet Minister, Uttar Pradesh, Shri Amitabh Bachchan, Shri Abhishek Bachchan, Shri Raj Babbar and his wife Smt. Nadira Babbar, Yoga guru Shri Bikram Choudhury, hockey Olympian Shri Dhanraj Pillai and many more. Shri Amitabh Bachchan and Saharsri Subrata Toy Sahara spent a considerable amount of time together in Sahara Shaher at Gomti Nagar, Lucknow.
At 4:30 PM, the funeral procession started for Baikuntha Dham. The open truck carrying Rev. Smt. Chhabi Roy was swarmed by the family members of Sahara India Pariwar. Wading through the crowd, Hon'ble Chief Minister of UP, Shri Akhilesh Yadav stopped near the gates to offer floral tributes. The procession turned into padyatra to reach its destination st 5:45 PM. Moments before sunset, Saharasri performed the mukhagnee ritual.

Sahara chief Subrata Roy’s mother passes away

With a deep pain and anguish, We are to inform that mother of 'Saharasri' Subrata Roy Sahara and the guiding light of our Sahara India Pariwar, Rev. Smt. Chhabi Roy, departed for her heavenly abode today i.e. 6th May,  2016 at 1:34 a.m. in the night. Smt Chhabi Roy wife of Late Shri Sudhir Chandra Roy was 95 year old. She was born on 15th of January in Araria district of Bihar. She has been critically ailing with for last more than 2 years and was at a makeshift hospital at Sahara Shaher, Lucknow.

Sahara India Pariwar

SEBI : SAHARA ISSUE MISCHIEVIOUS STATEMENT BY SEBI LAWYER Mr.DATTAR

We object to misleading statements made by Sebi lawyer, Mr. Arvind Dattar in public and media. His statement in media tends to mislead by creating an impression as if 'Saharasri' Subrata Roy Sahara wanted to go abroad before incarceration.  The fact however is that, 'Saharasri' was abroad and immediately returned to the country on being summoned. In November, 2013, the Hon’ble Supreme Court had restrained ‘Saharasri’ and other directors from leaving the country without permission. It is very important to state that subsequently Saharasri was granted permission by Hon’ble Supreme Court to travel abroad for two weeks, yet he did not go abroad. It is therefore clear that the statement given by SEBI’s senior lawyer Mr. Dattar is absolutely incorrect.

In 2012 Sahara has repaid to 95% of its Investors.  Nobody believed that.

But now Sebi in their 4th all India Advertisement through around 144 publications has clearly said that this is the last chance esteemed Investors to lodge their claims with SEBI seeking refund.

For last 43 Months uptil, now demand of repayment to public is only Rs.52.80 crores whereas Sebi already has Sahara's around Rs.13700 crores (with interest earned) available with them and till now Sebi has refunded to public only Rs.51.84 crores. Above all we have to pay Rs.5300 crores (including B.G. of Rs.5000 crores) more to get the bail of chairman and two directors. Also Sebi is holding land asset worth around Rs.40000 crores.

So Sahara is giving security of Rs.59000 crores for only around 104 crores repayment to public to be done by Sebi ever. Sebi do not agree worth of land asset as Rs.40000 crores, They say it is Rs.20000 crores. Even then it is 39000 crores security against Rs.104 crores requirement for repayment to public.

The fact also remains, that Sahara did everything as per law prevailing at that time. Sahara did this OFCD business with written permission of 3 Registrar of Companies under Ministry of Corporate Affairs. For continuously 7-8 years registrar of companies took our balance sheets etc, received the submission of prospectus, did dozens of inspections and investigations, we filed our return every year with registrar of companies etc.

Then why the case is against Sahara by Sebi. Sebi should lodge case against 3 registrar of companies, Ministry of Corporate affairs.




Advocate On Record Gautam Awasthi
Supreme Court

Subrata Roy pens his first book 'Life Mantras'

With immense pride and honor, Sahara India Pariwar is all set to launch the first book of the trilogy penned by honorable Saharsri from Tihar Jail.

The first of the trilogy of books written by Saharasri Sri Subrata Roy Sahara from Tihar Jail will be launched today, on the occasion of the 39th Foundation Day of Sahara India Pariwar.

The other two books of the trilogy ‘Think with Me’ How to make our country ideal and ‘Reflections from Tihar’Observations in Tihar Jail will be released in quick succession.

The books have been published by Rupa Publications, India. The organization is celebrating 39th Foundation Day today, 1st February.

Saharasri writing a touching message for his readers says, “After having gone through the book, you will definitely and convincingly realize that to achieve peace, true happiness, contentment, satisfaction and also to attain continuous progress in life in terms of material gains, respect and love, you need not depend on anybody in this world. It all depends on you. It is all in your hands.”

“Saharasri” – An Inspiration to many celebrates another birthday

Hon'ble Saharasri has inspired thousands of people to dream higher, so his birthday is marked as “Prerna Diwas” and celebrated by people who believe in his philosophy. Today, on this auspicious occasion we want to wish Subrata Roy a very Happy Birthday.

Subrata Roy is one among the top 10 most powerful businessman India can ever have. He is the founder and chairman of the famous Sahara India and has achieved more than fifteen awards for being the best Industrialist.

On 10th June, 1948, Subrata Roy was born in the district of Araria, Bihar. He was a very bright child, he also holds a diploma in Mechanical Engineering. Before he founded Sahara, he had already gathered 32 years of precious experience in business development along with 18 years of experience in real estate business. 

He opened his first office in Gorakhpur, which consisted of a table and two chairs along with a staff of one clerk and a runner boy. Initially he single headedly took up the business of Deposits and Para banking. But his life took a new turn in 1990s when he moved to Lucknow and set his business empire which is now over Rs.50, 000 crore. From there, it went on to become the largest conglomerate of India with a diversified range of business interests.

Apart from his business skills, he is also a humanitarian, he contributed to the relief efforts in flood hit Uttarakhand region by providing them the basic amenities along with free medical facility. He always believed in creating a family rather than a company. Which he did successfully, in a span of just 29 years, Sahara India has seen enormous growth as Roy was the driving force behind this success.

Sahara to take legal action against Mirach

Sahara India Pariwar went on the offensive on Thursday accusing Mirach Capital of cheating and forgery in the failed $2.05-billion loan arrangement.

As reported earlier by Mail Today, it has now initiated legal action against the US-based firm and is now working on a new deal to raise funds to secure bail for its chief Subrata Roy.

The crisis-hit group alleged that Mirach and its CEO Saransh Sharma's criminal conduct and lack of financial capabilities to honour such huge commitments led to the breaking down of its deal, leading to precious loss of time, resources and position of Sahara.

"... Sahara is now taking legal action, both of civil and criminal nature, against such gross criminal conduct of MCG (Mirach Capital Group) and their officers, both in India as well as in the US," a Sahara spokesperson said.

He said that an FIR has already been filed in this regard, while adding that the group is now working on another deal and Sahara will comply the order (of the Supreme Court) very soon.

Mirach had on Wednesday formally called off its $2.05-billion loan financing for Sahara and said it has returned the entire due diligence fees of $2.625 million to them. It also accused Sahara of being an unwilling seller for the three overseas properties - The Plaza and Dream Downtown in New York and the Grosvenor House in London.

Shockingly, on January 9, Sharma along with a woman officer was also present in the Supreme Court when Sahara's counsel presented the said letter purportedly issued by Bank of America, based on which the apex court approved the transaction and permitted Sahara to apply to the Reserve Bank of India (RBI) for getting inward remittance in India.

Later on, Bank of America branch manager Nuno Marques informed through his e-mail dated January 31, 2015 that the said letter purportedly issued by him was neither issued nor signed by him. Hence, the letter turned out to be forged.

Subsequently, Sahara sent its officer to the US to confirm the veracity of Bank of America's letter and on February 2 filed an affidavit in the Supreme Court, informing it about these disturbing developments.

Meanwhile, upon inquiry, the Sahara officer confirmed that the Bank of America's letter was a fake, not issued or signed by the branch manager concerned. Thereafter, Sahara confronted Saransh, who was not been able to confirm the veracity of the said BOA letter.

Sahara's response to DNA report and our counter response

This is with reference to the article'Cronyism,nepotism, conceit to Subrata Roy's fall' written by Mr Deepak Gidwani and published on the front page of your esteemed publication, dna, on December 1, 2014. We have serious objections to the article. The article does not have any news, but is only the biased, concocted and prejudicial view of Mr Deepak Gidwani, an ex-employee of Sahara Group, embodying his personal grudge against Sahara, disguised in the form of a media report. The words used in the headline like "cronyism", "nepotism" as well as other adjectives, used in context of Saharasree throughout the article, are highly derogatory and sarcastic in nature and seek to malign the reputation of the entire organisation and its Managing Worker & Chairman. The reporter selectively quotes unknown and undisclosed sources in his effort to harm the image of the organisation. A quote of an alleged and anonymous employee has been extrapolated as the sentiments of more than 12 lakh workers of Sahara, which in every aspect, even statistically, is amusing. The article quotes an anonymous 'CA', whose remarks are highly immature. It's a common practice among businessmen around the world to name their companies after them, while Saharasree has added his company's name – Sahara — to his name. Can this be called hubris? Harvard Business School recognises his philosophy of 'collective materialism' and looks up to him as a corporate visionary. This premier business school has invited him to give lessons and motivate the students of business and public policy on life and man-management as crucial to success in a business enterprise. Mr Roy has also been awarded an Honorary Doctorate of Business from University of East London (UEL) for his contribution to business, sport, education and social and community development. Can this be termed nepotism, cronyism, incompetency or unprofessionalism? The group, which started with mere Rs2,000 and 3 people, is now a conglomerate of $16 billion with a workforce of more than 1.2 million. It could not have achieved such a growth on the whims and fancies of an individual.

— Abhijit Sarkar, Corporate Communications Head, Sahara Group

Our correspondent's reply:
I wish to assert that I completely stand by my story, and that it is in no way biased or driven by any kind of vendetta. I left Sahara in 2003 and to allege that I have waited for 11 long years to write such a piece without occasion or news value is rather far-fetched. My write-up is just a dispassionate commentary on an organisation I have seen at close quarters from the inside. I have a track record of 27 years in this profession, and most of it was with leading media groups.

Last but not the least, I spoke with you (Abhijit Sarkar) and told you about the story that I was planning to do and I also asked for your version of it. Your staff asked me to mail the queries, which I did, but never got a reply despite my persistent follow-up over three days before I submitted the story. My facts are source-based, and I must hasten to add here that my report is not intended to malign anyone.

— Deepak Gidwani