Sebi Relies On Robotic Systems To Manage Sahara Case Files

Monday, March 25, 2013   |    1 Comments
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Mumbai: Flummoxed by the humongous task of sorting and verifying tonnes of investor papers received from Sahara group, the market regulator Securities and Exchange Board of India (Sebi) has put them in a huge warehouse having ‘automated robotic system’ document handling and storage vaults.

In the high profile Sebi-Sahara case, the market regulator has been asked by the Supreme Court to refund the money collected by two Sahara group firms to an estimated three crore investors after verifying their investment documents and other credentials.

After Sahara firms were told to hand over these documents to Sebi, the group delivered 128 trucks containing more than 31,000 cartons of documents to the regulatory authority’s headquarters in Mumbai.

Finding it impossible to store such an amount of documents at any of its offices, Sebi decided to keep them at a warehouse of SHCIL Projects, a subsidiary of Stock Holding Corporation of India, a senior official said.

The warehouse has automatic robotic systems for handing of documents and their storage in safe vaults, which would help the regulator in retrieving the documents faster as per the needs.

Also Read:
Educated Investor Is A Protected Investor: Sebi
Identity Theft: a Major Threat to India


Source: PTI
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Reader's comments(1)
1: SEBI is not only providing false information to the Media, it has also hidden truth from the citizens of this Country. Sahara has deposited TDS on the interest paid to the investors on behalf of the two Sahara Companies with the Income Tax Authorities. The TDS deposited is more than Rs.700 crores. These true facts are never reported to the Media by SEBI.
Posted by:sneha - 28 Mar, 2013
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