Sahara documents not affected by fire: SHCIL

A major fire gutted one of the office premises of SHCIL in Navi Mumbai on Monday raising concerns that key Sahara-SEBI case documents that it was holding may have been damaged. But NGS Ramesh, CEO & MD, SHCIL, told BusinessLine that most Sahara documents were safe. SHCIL’s Navi Mumbai office, which was gutted in a fire, held three level vaults.

Sahara, which was held guilty by SEBI for running fraudulent chit fund schemes through which it claimed to have collected over ₹24,000 crore, had submitted 127 truck loads of documents to SEBI.

Though the fire brigade officials have not been able to enter the premises which was still engulfed in smoke and fire, most documents are safe since they were held in digital or robotic facilitiesand even could be retrieved.

What does SHCIL’s Navi Mumbai facility contain? The core documents under its custody are held by a subsidiary organisation known as SHCIL Document Management Services.

In an official response to BusinessLine , SHCIL said all its major operations, including the Data Centre, are up and running. “The repository where physical documents or records were stored have been partially affected. The extent of loss is yet to be assessed,” SCIL said.

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