The loans scam grabbed eyeballs in late November as the CentralBureau of Investigation arrested officers of banks and housingfinance companies. But, a deposits scam brewing alongside does notseem to have received as much attention even though the amount ofmoney raised is on a much larger scale and from easily-luredsections of the investing public.
On November 24, the Securities and Exchange Board of India orSEBI, barred Sahara Pariwar chief Subroto Roy and two companies fromthe Sahara stable - Sahara India Real Estate Corp. and SaharaHousing Investment Corp. - from raising money from the public. Thetwo companies had raised several thousand crores through …
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