The manner in which the Indian government, across political formations, deals with large financial frauds is a wonderland that would stump Lewis Carroll himself. Take the example of Sahara and Pancard Club or even PACL. After the death of Sahara founder Subrata Roy on 14th November, the government has quickly begun to explore the possibility of transferring funds with the market regulator to the Consolidated Fund of India (CFI).
The death of Sahara group founder Subrata Roy has left many investors in Uttar Pradesh despondent, as they fear they will never get their money back. | Latest News India
Depositors of the Sahara group credit cooperative societies - Sahara Credit Cooperative Society Ltd, Saharayn Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd, can submit claims for refund on the new portal set up by the Union ministry of cooperation, the Lok Sabha was informed.
In a good news for the depositors of Sahara Cooperative Society, Union Home Minister Amit Shah said on Monday that the government is moving towards fulfilling the resolution of returning the deposits of those investors and it will launch the .