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Jharkhand CID finds Sahara sold land cheap via fake firms

Jharkhand CID’s investigation has revealed a case of the Sahara Group selling its immovable properties at throwaway prices through fake companies and by authorising fake individuals.

News Arena Network - Ranchi - UPDATED: July 14, 2025, 09:40 PM - 2 min read

Sahara Faces Heat for Selling Land via Fake Companies.


Jharkhand CID’s investigation has revealed a case of the Sahara Group selling its immovable properties at throwaway prices through fake companies and by authorising fake individuals.

 

The CID has found that hundreds of acres of immovable properties in Bokaro, Dhanbad, Begusarai and Patna were sold at prices much lower than the value assessed by SEBI. The amount earned from these sales was also not deposited with SEBI.

 

The value of the land was assessed by SEBI in 2013, but the land was sold in 2022 at prices far below that rate. It is estimated that between 2013 and 2022, the price of these lands increased two to three times, yet they were sold at a very low rate.

 

Following its investigation, the CID has recommended registering an FIR against Sahara India directors Swapna Roy, Jaybrato Roy, Sushanto Roy, Seemanto Roy, Sahara Commercial Corporation director O.P. Srivastava, Sanjeev Kumar, Neeraj Kumar Pal, Jitendra Kumar Varsayane, Shyam Veer Singh, Alakh Singh, Pawan Kumar, Tapas Rai and other company directors, partners and unidentified individuals.

 

Notably, Jharkhand Chief Minister Hemant Soren had also raised the issue of the Sahara Group cheating Jharkhand investors and failing to return their payments at the Eastern Regional Council meeting. Bihar representatives have also been informed about the matter.

 

According to sources, money was transferred from the Ranchi and Bokaro zones to Kolkata, Guwahati, Patna, Varanasi, Lucknow and Delhi zones on the instructions of Sahara headquarters.

 

The CID’s investigation has revealed that the Sahara Group authorised fake individuals through its many fake companies. After selling the land, the money was neither deposited with SEBI nor returned to investors. Instead, the funds were spent arbitrarily for personal purposes.

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