Sahara Case: ED Attaches Fresh Assets Exceeding ₹1,500 Crore

According to the news reports, assets worth over ₹1,500 crore have been seized in a money-laundering investigation involving the Sahara Group. This includes 1,023 acres of land in 16 cities, purchased through illegal transactions using funds diverted from Sahara’s entities.

Land Locations and Value

The seized land spans across multiple states, including Gujarat, Odisha, Maharashtra, Karnataka, Rajasthan, Jammu and Kashmir and Uttar Pradesh. The total value of these properties, based on the 2016 official circle rates, is ₹1,538 crore.

Previous Actions in the Case

Just last week, 707 acres of land in Maharashtra’s Lonavala area were also seized by ED, valued at ₹1,460 crore in the current market. This action is part of the ongoing investigation into the Sahara Group’s financial activities.

The Allegations

The ED has accused the Sahara Group of running a Ponzi scheme through several entities like HICCSL, Sahara Credit Cooperative Society and others. They allegedly misled depositors and agents, offering high returns and commissions while misusing the collected funds without proper oversight.

Read More: Sahara Refund Process: Centre Releases ₹2,314.20 Crore To 12,97,111 Depositors.

Conclusion

The ED’s ongoing investigation into the Sahara Group highlights serious allegations of financial fraud and money laundering. With further asset seizures and numerous complaints, the case is shedding light on the scale of the group’s alleged illegal activities, impacting thousands of investors.

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