Sahara Credit Co-op: Story of a helpless investor

I am an investor in Sahara Credit Co Operative Society. I invested my hard earned money in the form of fixed deposits in this society in the year 2012 for a period of 5 years. The deposited amount was about 7 Lakhs.

This year on 5th Jan the instruments are due for maturity. I want to claim my maturity money from the Sahara as a process I met the Branch manager Parvatipuram District Vizianagaram A.P where I made these deposits. He said “we cannot repay your money immediately as at present we have shortage of funds”.

He also told that SEBI case against Sahara is going on in Supreme court and because of that they are unable to pay the dues. It was evidently clear that at the time of offering deposits we were told that the case is only against two of Sahara’s wings and the deposits being accepted and encouraged were completely different from them.

He did not even mention when he could pay the maturity amount. When I asked about it the manager erroneously replied that “to whom you wish to complaint you can!” I was shocked with that and I am totally helpless.

As a poor and layman investor I invested my entire savings. My agent misguided me totally. At present I am in great financial troubles and totally depending on these FDs with Sahara.

In this regard I beg to request your good self to advice me and guide me properly to receive my maturity money.

I shall be ever grateful to your kind help. Kindly treat this as a special request and on humanitarian grounds help me.


Bh.Subba Rao

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Comment ( 1 )

  1. Anonymous

    Go to consumer court and Complete to FINACE DEPARTMENT

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