SAHARA Q-SHOP Scam




The Sahara Q Shop scam involves the alleged conversion of investments from Sahara group companies into other schemes and non-payment of investment amounts, leading to investigations by the Serious Fraud Investigation Office (SFIO).

The following Points are to be noticed:-

  • : The SFIO is investigating Sahara Q Shop and other Sahara Group companies following numerous complaints of non-payment of investments. The investigation was ordered on October 31, 2018.

  • : The Ministry of Corporate Affairs has received a large number of complaints, approximately 17,000, from investors regarding non-payment of investment amounts against Sahara Q Shop Unique Products Range Ltd. In 2018, the Registrar of Companies (RoCs), Mumbai, received 744 complaints against Sahara Q Shop Unique Products Range Ltd.

  • : Allegations include the conversion of investments from Sahara Housing Corporation Ltd and Sahara India Real Estate Corporation Ltd into Sahara Q Shop and other Sahara group companies.

  • : Investigations revealed fund flows from 'Sahara India' into Sahara Housing Corporation Ltd and Sahara Q Shop, with transfers occurring between Sahara Housing Corporation Limited and Sahara Q Shop.

  • : The database of investors of SQS and other group entities revealed that money was collected across 26 states through 2.77 crore policies.

  • : The Supreme Court directed SEBI to make refunds only to investors who invested in Optionally Fully Convertible Debentures (OFCDs) of Sahara India Real Estate Corporation Ltd (SIRECL) and/or Sahara Housing Investment Corporation Ltd (SHICL). Therefore, refunds to investors of Sahara Q Shop are prima facie not covered under the Supreme Court order.

  • : As of August 2024, the SFIO probe into Sahara group companies was ongoing, with further action pending the report.

  • : As of August 2024, out of 3.7 crore investors in Sahara group companies, 19,650 people had come forward to claim refunds, with 17,250 claims settled.

  • Suggestion: Instead of sitting calmly investors should make a demand 

  • notice to the Head office. Follow it up till your refund.  

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