Bhopal: EOW Team Lands At Sahara HQ As Company Officials Ignore Summons

Bhopal (Madhya Pradesh): The failure of Sahara Group officials to appear before the Economic Offences Wing (EOW) in Bhopal prompted agency officers to reach the group’s headquarters in Lucknow to seize documents related to land sale in Madhya Pradesh.

The EOW is investigating alleged irregularities in land sales by the Sahara Group in Bhopal, Katni, Jabalpur, Gwalior, and Sagar. Officials from the group were summoned to Bhopal and directed to bring relevant documents. However, none of them appeared at the EOW office, leading the agency to reach their doorstep.

A team of EOW officers from Bhopal visited Sahara’s Lucknow headquarters and collected important documents related to land transactions.

There was commotion at the office on Friday when the EOW team arrived. Most Sahara officials reportedly left the premises before they could be questioned. Despite this, the team succeeded in obtaining documents from the employees present there.

The seized documents have been brought to Bhopal. Sahara officials have now been directed to appear before EOW officials in Bhopal within this week to record their statements.

As per the investigation, the Sahara Group sold land parcels at prices much lower than the market rate, and the proceeds were allegedly deposited into accounts belonging to the company.

The company also violated the Supreme Court directives of depositing the proceeds from Sahara land assets sale in the joint Sahara-SEBI Refund Account in Mumbai. The EOW has issued multiple summons to officials from Sahara’s finance department, asking them to present documents related to land sales and transaction details. However, no one has complied so far.