Sahara owes 24,000 crore rupees to investors. It is trying to avoid making those payments. Sahara came out with full page ads on 1/9/2012 claiming they have done lot of good work but instead of getting a pat on their back faced injustice from a faulty system. Sahara blamed Income Tax Department, Reserve Bank of India and the machinery (SEBI?) that presented the facts incorrectly before the Respected Judges of Hon’ble Courts. Sahara did not say they will honour the Supreme Court judgment and refund the amounts to investors. Instead of spending crores of rupees on ads it would have been better for Sahara to use that money to refund the investors.
Tag: RBI
Getting back black money
There is a debate on how to get back black money held abroad by Indians. Some want it to be declared a national asset. Some say it is red money acquired through crimes like drug trade. Some say there is more black money in India than abroad. The amount of black money is a conjecture. Some mention 25 lakh crore rupees. BJP blames Congress for not doing enough to get back black money and wants the names of 782 account holders given by France revealed. Congress blames BJP that it did nothing when it was in power. Some say getting money is more important than knowing names.