Warrant issued against Subrata Roy, five others
By IANSMonday, January 24, 2011
NEW DELHI - A Delhi court Monday issued a bailable warrant against Sahara India group’s chairman Subrata Roy and five other officials of the group on a complaint that they duped investors of Rs.25,000 crore by promising flats.
The Sahara group officials have been asked to appear before the court Feb 9.
Chief Metropolitan Magistrate Vinod Yadav took note of a private person’s complaint alleging that a Sahara company involved in infrastructure and housing activity duped investors by inducing them to invest in its township projects in 17 cities in the country.
The court order came on a compliant of Neeraj Pandey, who claimed that he and many others were not given the promised flats after they invested in the Sahara group’s scheme.
The complaint accused Sahara officials of cheating, forging documents, criminal conspiracy and criminal intimation.
The Sahara group started a housing scheme in 2003 with 217 proposed townships across the country. Investors were asked to invest over a period of time to get ownership of flats in the proposed township.
