Sahara pins hopes on Rs 24,000 crore lifeline

The Subrata Roy-helmed group’s immediate fortunes hinge on getting back the money lying with SEBI. A delay could turn into a disaster.

The Sahara group could well be sitting on a ticking time bomb. It already faces a situation of delayed payments to thousands of members of its four pan-India cooperative societies.

The crisis was flagged last August when a joint secretary of cooperatives and central registrar of cooperative societies in the Ministry of Agriculture wrote to the Ministry of Corporate Affairs asking for an investigation by the Serious Fraud Investigation Office into the cooperatives run by the Sahara group. Till that time, the popular impression was that Sahara’s controversial chief promoter, Subrata Roy, was beleaguered as his fundraising efforts had been …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor