F.No.

R-1 1 017/79/201 5-L&1il (paft-2)

Government of lndia
Ministry of Agriculture & Farmers' Welfare
Department of Agriculture, Cooperation & Farmers' Welfare
Office of Central Registrar of Cooperative Societies

IHearing through video conferencing on the affairs of Saharayn Universal

Multipurpose Society Ltd., Bhopal before the Central Registrar of Cooperative
Societies, New Delhil

Date- 24.0.92020
Present through video Conferencing
1. Ms Seema, Chairperson, Saharayn Universal Multipurpose Society Ltd , Bhopal;
2. Shri Navlendu Jha, Managing Director, saharayn Universal Multipurpose society Ltd.,
Bhopal;
3. Shri Deepak, Chartered Accountant, saharayn universal Multipurpose society Ltd.,
Bhopal;
4.ShriRamSinghYadav,ChiefManager,saharaynUniversalMultipurposeSociety
Ltd., Bhopal.

ORDER SHEET

The Management of the society was asked about their plans to bring funds in. the
society as per th;ir earlier submission to this Authority from their investments in various
sahara group companies including Aamby valley Ltd. shri Navlendu Jha, MD submitted that
they hav-e alieady made an agreement with a foreign investor for bringing funds, which will
be brought into the society accounts for smooth functioning

2)ThisAuthorityconsideredthestatementoftheManagingDirector.However,mere
siatement is not sufhcient for ensuring the return of the money. The management of the
to submit a credible plan for liquidation of its investments and bringing in funds'
Recyciing of new depositors' money to repay the old depositors cannot be allowed as any
"o"i"tv-nur
such activity is financially unsustainable.

3)ThisAuthorityhasalreadymadeareferencetoMinistryofCorporateAffairsfor
investigation into ths affairs of Sihara group companies in which the society has
made
may be
investrient So that actual position can be ascertained and lnterest of depositors
to a reminder 1etter to the Ministry of
iafeguarOed. Director (Cooperation) is directed send
-orptr"t" Affairs and SFIO ior expediting the investigation and submission of report.

4)ManagingDirectoroftheSooietyisdirectedtoshowacredibleproofofitscapacityto
realise funoslrom the investments made out of depositor's money. ln the
meantime, the
pi"niuiti", oioer to'' taking deposits from old or new members/ depositors shall continue to
amount'
[" in-op",."tion. Society i-s further prohibited from renewal of depositor's maturity
Society must ensure repayment of the entire dues on maturity to the depositors/members

Case is fixed for next hearing on 05.11.2020 at 3'30 p'm

,h, Aggarwal)
ry to the Govt. of lndia &
cen f Co-operative Societies

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