AS Sahara Group chairman Subroto Roy spends time in police custody, market regulator Securities Exchange Board of India has asked state governments to give details of properties transferred by Sahara Group concerns for a consideration of Rs 5 crore or more during the period April 1, 2008 to December 31, 2013.
In a recent letter to state governments including Orissa, where Sahara has real estate projects and other investments, a Sebi official asked for the information.
The Supreme Court in its order on January 9, had directed Sahara group to file with Sebi by January 23 the complete details and sources of funds with which they repaid the investors, and also the manner the repayment was done. In Orissa, Sahara had started three real estate projects — Sahara City Homes and Sahara City Homes-Grace in Bhubaneswar and Sahara City Homes in Berhampur.
S Kanungo, joint secretary-finance, Orissa said the state is still in the process of consolidating the information. “We have asked the Economic Offences Wing of the state Criminal Investigation Department to find out any such transaction,” he said.
Sahara has over 100 real estate projects spanning Tamil Nadu, Karnataka, Bihar, West Bengal, Maharashtra, Rajasthan, Gujarat, Uttar Pradesh, Kerala, Punjab, Chhattisgarh, Madhya Pradesh and Andhra Pradesh.