[Resolved]  Sahara India Housing Scheme (Rajat Yojana) — Seeking refund of my investment

I had paid Sahara India Rs 10, 000/- (ten thousands only) in the year 2003, towards Sahara Housing under Rajat Yojana. Six years have passed by and there has not been any sort of communication providing updates to the afore said scheme and status of my investment.

I tried several times contacting Sahara India office by phone in Delhi (where I had registered for the scheme), unfortunately could not trace the same. As, Sahara India office in Madangir Village, New Delhi has disappeared from there, it does not exist there anymore.
I even visited the Hyderabad office of Sahara India in 2007 (where I was posted then), to get the status of the same. The local managers's response was very disappointing, as he asked me to contact the Delhi office to get the required information. He did give me one phone number of Delhi's new office. I tried to contact someone over there, but no one could provide me any information about my investment. Instead they asked me to come to Delhi to get the information.

How one can expect me to go to Delhi from Hyderabad just for the sake of getting my account statement. Because of my busy schedule at work, I left the issue there to be taken up again sometime in the future.

I, in the mean time got shifted to Bangalore. I have again taken the matter up now. Hoping this time it will reach some fruitful end.

I have contacted customer care number [protected] and Grievance Redressal Cell number[protected] of Sahara India. But as it happened earlier, same is happening again. The Sahara executives expect me to contact Delhi office.

I am an IT professional, I do not understand why Sahara is not maintaining a centralised information base. How you can expect me to go to Delhi from Bangalore to know what has happened to my investment which I had made 6 years back. It creates a suspicion in my mind that it could be a deliberate attempt to keep people deprived of the information, which is their right to know.

I have full right to know my account details, details pertaining to the project (under Rajat Yojana). The company has not kept the promise, which they made at the time of taking money from people like me.

I was told that the Housing projects will be completed in three years of time (i.e. it should have been completed by 2006). No progress has been made in this regards, neither do Sahara India has updated me with my updates on the project status. Which is in complete violation of the terms and conditions mentioned by them in the investment certificate (point nos. 13 & 14). They have kept me in dark for past six years, and I do not expect any initiative in this regard in future also.

Now, having explained in detail my dissatisfaction and the reasons for the same, I demand refund of my investment with accrued interest till date, alongwith a compensation towards mental harassment I have been subjected to, for last six years and breaking the trust of investors like me.

The control no. of my account is: [protected]

I have written a mail earlier to Sahara India ([protected]@sahara.co.in and [protected]@sahara.co.in), with the same content as I am posting now in this forum. Instead of replying to my detailed mail, some person calls me on my mobile, apparently some executive from Sahara and tells me to wait till 10 years are completed from the date of my investment, after that I may apply for refund. When I asked him to reply the same as an email response, he simply refused to do so.

Now, I want to know through this forum, how can I get my money back from these frauds ?

Thanks & regards,
Yogesh Kapoor
Phone: +[protected]
Mobile: +91-[protected]