statement from sahara

8/12/2019 Statement From Sahara

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Statement from Shri Smanto R Roy, Executive

Director, Sahara India Pariwar

At a Press Conference on 28 thFeruary, 2!"#

$ood %ornin& Everyody

'n eha(f of the Sahara India Pariwar, )e we(come you a((

)e are meetin& at a time when our or&ani*ation has een verywron&(y inter+reted and +resented in +u(ic a&ainst the acdro+ of

the on&oin& Sahara - Sei case.

As the matter is Su/0udice, we cannot rin& forward many thin&s

+ertainin& to the case ut ein& an or&ani*ation (ie Sahara India

Pariwar with a ase of more than crores and crores of investors and

havin& artvyayo&is in tune of "2 (ah, we fee( it is our mora( ri&ht andduty to come forward and dis+e( some misconce+tions which are

ein& created y +arties havin& vested interest in the dust of on&oin&

dis+ute.

As you are aware of the ha++enin&s in this case and the

deve(o+ments of (ast two days, we wish to +ut forward the facts for

the understandin& of our esteemed investors 1 customers 1artavyayo&i aryaartas, associates and usiness +artners 1 our we((

wishers and +u(ic at (ar&e.


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On 20thFeb14, Honble supreme court orders our Chairman Sri Subrata Roy Sahara

(Saharasri i! and " other directors to appear in person in Honble supreme court to be

a part o# the proceedin$ o# that particular day related to the on$oin$ dispute o# our t%o

companies namely Sahara &ndia Real 'state Corporation td and Sahara &ndia Housin$

) &n*estment Corporation td %ith Securities '+chan$e oard o# &ndia (S'&!-

On 22ndFeb14, Saharasri i arri*es in .elhi to ha*e one on one meetin$s %ith our

Senior e$al Counsels namely Shri Ram ethmalani ) Shri /ryama Sundaram andtherea#ter to attend the proceedin$s in Honble supreme court on 2 th Feb14 alon$

%ith other three .irectors

On 2"rdFeb14, Saharasri i meets both Senior Counsels Shri Ram ethmalani and

Shri /ryama Sundaram at their respecti*e residences in e% .elhi-

On 24thFeb14, to%ards late e*enin$ Saharasri i is in#ormed that the health condition

o# his mother Smt- Chabbi Roy, a$ed 2 years, %ho has been un%ell #or some time and

is bein$ attended and treated at Sahara Hospital in uc3no%, has suddenly

deteriorated and her situation is critical-

Saharasri i bein$ the eldest child o# his mother and also bein$ *ery attached to her

decided to $o bac3 to uc3no% immediately %ith a pri*ate charter to be %ith his ailin$


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mother at this critical moment as any son %ould ha*e done in order to #ul#ill his

emotional duties and obli$ations to%ards his mother-

/#ter arri*in$ in uc3no% and understandin$ his mothers #ra$ile conditions

Saharasri i decides to stay bac3 in uc3no% to ensure proper support and care #or his

ailin$ mother-

Ha*in$ ta3en this decision absolutely on Humanitarian and 'motional $rounds he

%as also conscious o# the directions $i*en by Honble Supreme Court- here#ore, he

instructs the le$al team to mo*e an application to the Honble Supreme Court

immediately see3in$ an e+emption #rom the hearin$ #or that particular day- 5hile the

rest o# three directors %ere to attend the proceedin$s, his inability to attend %as also

communicated in %ritin$ to our Senior Counsels personally by Saharasri i citin$ the

reasons in detail-

/ccordin$ly the *ery ne+t day i-e- 26th Feb14 our senior counsels Shri Ram

ethmalani and Shri 7anesh mo*e a special application #or see3in$ personal

e+emption alon$ %ith a medical certi#icate issued by 8adamshree .r- 9ansoor Hasan

Head o# Cardiolo$y .epartment o# the best Hospital in City o# uc3no% run by Sahara

&ndia 8ari%ar, %hich clearly states the #ra$ile and deterioratin$ condition o# Saharasriis 9other-


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/ccordin$ly the same matter %as mentioned in #ront o# the special bench, ho%e*er

the Honble ustices did not $rant us the short relie# citin$ the reason as their inability

to modi#y the order dated 20th Feb14, subse:uently Honble ustices as3ed our

counsel to ta3e up the matter on the date o# hearin$ that is 2 thFeb,14-

&t is pertinent to mention that the condition o# Saharasri is 9other continued to

remain #ra$ile and he decided to stay bac3 in uc3no% at the side o# his mother durin$

this e+tremely critical phase hopin$ that Honble Supreme Court %ill consider his

re:uest on humanitarian $rounds- &n spite o# bein$ so emotionally lo% Saharasri i

a$ain %rites a personal letter to Shri Ram ethmalani i e+pressin$ his helplessness to

lea*e luc3no% %ith a re:uest to read out this letter durin$ the court hearin$ -

On 2thFeb,14 Senior Counsel Shri Ram ethmalani in#orms the special bench about

Saharasri isinability to be present in Honble Supreme Court to attend the hearin$ on

2thFebruary due to the critical condition o# his mother- Ho%e*er, the ;ustices pass an

order to ser*e non bailable %arrant in the name o# Saharasri iand in order to ensure

the presence on the ne+t date o# hearin$ i-e- on 4th9arch 14-

On 2


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4th 9arch14 %ithout #ail- On 2th Feb14, in the early mornin$ hours, as a la% abidin$ citi?en he %ill#ully

decides to submit himsel# to uc3no% police based on the %arrant issued and as3s

them to proceed %ith their call o# duty as per the directions $i*en by Honble Supreme

Court-

oday mornin$, our senior counsels ha*e a$ain approached Honble Supreme Court

%ith a plea and a personal appeal #rom Saharasri i to recall the non=bailable %arrant

as he has %ill#ully submitted himsel# to the uc3no% police- He $a*e an assurance to

be present in Honble Supreme Court on the day o# ne+t hearin$ i-e- 4th 9arch14-


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/t this moment, as %e spea3 Saharasri i is %ith @8 police and cooperatin$

%holeheartedly %ith all the authorities in order to ensure the direction $i*en by Honble

Supreme Court-

For the consumption of all those who are associated directly or indirectly,

nationally and globally, with us, we wish to reiterate the fact that Sahara

India Pariwar has always put our beloved nation ahead of any business

interest and have always have ensured compliance to the law of the land

across our businesses and processes.

From a humble beginning in 197, Sahara India Pariwar has created many

milestones in the !ourney and today we have a huge asset base which

includes our 1"#ac $ %arya%artas and crores and crores of investors. In the

past also, we have faced many difficulties and each time we have reemerged

more strongly and firmly. In our endeavor to build our nation, we not only

diversified our business in the country but also e&panded globally.

's you are aware that we are fighting an ongoing long legal battle and are

confident that it will arrive to its logical conclusion soon, having stated the

above, as a responsible business organi(ation with high level of discipline

and ethics we are committed to abide by the law of the land as we have

been practicing always.


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#ast but not the least, Sri Subrata )oy Sahara to me is not only a doting

father but also a patriotic son of the soil who has contributed immensely to

the country in many ways whether it is various social causes impacting lives

of people across the length and breadth of the country or whenever India

needed its son to stand up and shoulder responsibilities li%e helping the

families of *argil martyrs, +umbai terrorist attac% martyrs and victims of

earth uac%s, floods and other forms of natural calamity. -oday it pains me

to see his reputation and image being maligned in this manner and I humbly

see% your support and cooperation.

In the end I would li%e to read a small message on/ble Saharasri 0i

My office, my collegues, my family members are continuously getting

calls, sms etc from media friends, relatives. They want to hear from me.

All I want to say isThis Is The Best Honour My Country Could ive Me

-han%ing you,

Sahara Pranam.

statement from sahara

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