Did Sahara Group Dispose of Assets Secretly, as Alleged by ED?
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Synopsis
The Enforcement Directorate has made shocking claims about the Sahara Group's clandestine asset disposals. This investigation could reveal the depths of the alleged Ponzi scheme and its impact on countless depositors. Stay tuned for the unfolding drama as legal proceedings progress.
Key Takeaways
- ED alleges Sahara Group disposed of assets secretly.
- Anil V Abraham and Jitendra Prasad Verma are accused.
- Over 500 FIRs filed against Sahara Group entities.
- Supreme Court ordered repayment to depositors.
- Investigation reveals potential Ponzi scheme.
Kolkata, Sep 15 (NationPress) The Enforcement Directorate (ED), Kolkata, on Monday, made serious allegations regarding the disposal of multiple assets belonging to the Sahara Group. These assets, acquired through public deposits, were reportedly being sold off in a secretive manner involving cash transactions, as stated by the agency.
The central investigative agency submitted a charge sheet in this case to a special Prevention of Money Laundering Act (PMLA) court in Kolkata on September 6.
In the charge sheet, the agency named Anil V Abraham and Jitendra Prasad Verma as accused. Both individuals have been arrested by the ED and are currently in judicial custody.
Abraham held the position of executive director within Sahara Group's core management team, while Verma, a property broker, has been a long-time associate of the group, according to the ED.
The agency stated, "The Directorate of Enforcement (ED), Kolkata has filed a prosecution complaint on 06/09/2025 u/s. 44 of the Prevention of Money Laundering Act, 2002 (PMLA) concerning the Sahara Group case within 60 days of the arrests of Jitendra Prasad Verma and Anil Vilaparampil Abraham. They are among those accused, along with other individuals and entities."
Furthermore, the statement revealed that a significant number of properties owned by the Sahara Group, which were obtained through public deposits, were being sold off in a secretive manner involving substantial cash transactions. The investigation has shown that Anil V. Abraham and Jitendra Prasad Verma were instrumental in the disposal of these properties, working in collusion with others. They played key roles in facilitating, coordinating, and executing transactions related to the alienation of Sahara Group's assets.
The money laundering investigation was initiated following over 500 FIRs filed by police against Sahara Group entities, including a company named Humara India Credit Cooperative Society Ltd (HICCSL).
The police complaints accused the group of large-scale cheating of depositors through forced redeposits and withholding maturity payments.
The ED has alleged that the Sahara Group was running a Ponzi scheme.
On September 12, the Supreme Court ordered the release of ₹5,000 crore from over ₹24,000 crore deposited by the Sahara Group with the Securities and Exchange Board of India (Sebi) to repay dues owed to depositors of Sahara Group Cooperative Societies.
The apex court also extended the deadline for the disbursal of this amount to December 31, 2026, from December 31, 2025, as per the allocation made in 2023.
The bench stated that this order aligns with the March 29, 2023, ruling where a similar application by the Centre was permitted for allocating ₹5,000 crore to settle the dues for Sahara Group Cooperative Society depositors.
The ₹5,000 crore was directed to be transferred from the Sebi-Sahara refund account to the Central Registrar of Cooperative Societies, which is tasked with distributing it to genuine depositors following thorough scrutiny.
The bench emphasized that the transfer should occur within a week, overseen by former Supreme Court judge R Subhash Reddy, and conducted as outlined in the court's March 2023 directive.
Point of View
I view the situation surrounding the Sahara Group and the ED's allegations as a critical examination of financial transparency in cooperative societies. The concerns raised about asset disposal and depositors' rights must be addressed with utmost seriousness to ensure public trust in financial institutions.
NationPress
15/09/2025
Frequently Asked Questions
What are the allegations against Sahara Group?
The Sahara Group is accused of secretly disposing of assets acquired from public deposits through cash transactions, as stated by the Enforcement Directorate.
Who has been arrested in this case?
Anil V Abraham, an executive director of Sahara Group, and Jitendra Prasad Verma, a property broker, have been arrested and are accused in the case.
What legal actions have been taken?
The Enforcement Directorate filed a charge sheet under the Prevention of Money Laundering Act in a special court in Kolkata.
What is the Supreme Court's involvement?
The Supreme Court has ordered the disbursal of ₹5,000 crore from the Sahara Group's funds with SEBI to repay depositors.
What is the nature of the allegations regarding the scheme?
The ED has alleged that the Sahara Group operated a Ponzi scheme, involving cheating of depositors through forced redeposits.
