New Delhi: Stung by a "forged letter" claiming USD 2-billion funding through Bank of America, crisis-hit Sahara group today said it has been "cheated" by US-based Mirach Capital and would take all suitable legal action against the firm and its officers.
"We will take up all suitable legal proceedings including - civil and criminal, against Mirach Capital Group (MCH) and their all officers involved in the transaction - both in India and in the USA, for such reckless conduct of MCH," the group said in a strongly worded statement.
This follows Bank of America's assertion that it was not the banker as claimed by Mirach, run by an Indian origin businessman Saransh Sharma, in a proposed financing deal for Sahara group, which has been looking to raise funds to secure bail for its chief Subrata Roy.
Sahara said it got some "disturbing information" about Mirach deal on February 1, following which it began its own due diligence to check the veracity of BofA letter.
"Because of having focus on this transaction, we could not take up other offers for last three ? four months. We are astonished and feel cheated in such an adverse environment against us. We strongly condemn such inhuman conduct of MCH and its officers and make it clear that Sahara will not spare them," Sahara group said.
There was no immediate reply to queries sent to Mirach about charges levelled against them by Sahara. Earlier in the day, following Bank of America's disclosure, Sharma had said that Mirach has "determined" a bank for the Sahara transaction but did not give any direct reply on BofA.
"We are in no way connected with this transaction," a spokesperson for Bank of America Merrill Lynch had told PTI.
Sahara said Sharma claimed to have "billions of funds with him" and had entered into pacts with the group and was paid "crores of rupees towards facility fee in the matter".
Sahara, has been looking to raise the funds for Roy's release from Tihar Jail where he has been lodged for almost a year now, said it has received a report from its counsel in London after visiting the bank branch that "it was a forged letter".
As per submissions made before the Supreme Court last month, Mirach was to conduct this deal through funds deposited in an account with Bank of America, which was proposed to transfer funds to the accounts of two Sahara entities.
Sharma had said he was committed to complete the deal, even as he hinted at attempts by rivals to sabotage the deal.
