The Enforcement Directorate (ED) has attached land worth Rs 1460 crore in the ongoing investigation into the ponzi scheme case against Sahara India, involving multiple Sahara group entities including Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL).
EdSahara Ponzi SchemeAsset SeizureFinancial FraudInvestor ProtectionReal Estate MumbaiApr 15, 2025
The Sahara Ponzi Scheme refers to a large-scale financial fraud where the Sahara group, led by Subrata Roy, allegedly misappropriated funds raised from retail investors through the sale of unlisted company shares. The scheme is estimated to have defrauded thousands of investors.
The Enforcement Directorate (ED) is a premier financial intelligence agency in India. It is responsible for investigating financial crimes, money laundering, and enforcing the Prevention of Money Laundering Act (PMLA).
The ED has attached land worth Rs 1460 crore in the Sahara Ponzi scheme case. This includes properties belonging to Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL).
The key entities involved in the Sahara Ponzi Scheme include Sahara India Pariwar, Sahara India Real Estate Corporation Ltd (SIRECL), and Sahara Housing Investment Corporation Ltd (SHICL). These companies are accused of being integral to the operation of the ponzi scheme.
The Sahara Ponzi Scheme has had a significant impact on the Indian financial market. It has raised questions about the adequacy of regulatory mechanisms and the need for more stringent oversight of large financial conglomerates. It has also highlighted the vulnerabilities in the system that allow such schemes to operate for extended periods, defrauding a large number of unsuspecting investors.
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