new delhi faced with a tight cash flow sahara is contemplating to exit its finance business by december 2017 and focus on retail real estate life insurance and mutual fund its chief subroto roy has said in a letter to prime minister manmohan singh the letter signed by his son smanto roy was sent to pm on april 15 after roy had spent over one month in tihar jail over its legal standoff with stock market regulator securities exchange board of india sebi sahara wants to go away totally from financial business to nonfinancial business had there not been the sebi issue we could have achieved this stage by 2015 the letter said however now plans are all in place but cash flow has been badly beaten up nonetheless if we are left in peace we shall definitely be done with the financial business maximum by december 2017 it said the sahara india pariwar which has a net worth of rs 68174 crore has been locked in a legal battle with sebi over the issue of refunding of rs 24000 crore by its two companies sahara india real estate corporation sirec and sahara housing investment corporation shic to investors from whom they had raised the money sebi says the funds were raised illegally the supreme court had ordered sahara to refund the money raised from investors with interest roy has been sent to jail for his failure to comply with the top courts orders he has been in tihar jail since march 4 while the sc has given him bail the company has been unable to meet the bail conditions so far last year the firm announced plans to expand into retail luxury retail diary and food business the company says it plans to recruit 56000 employees across sectors and provide employment to 4 lakh people in the next three years from 2009 i totally concentrated on a new plan that is to promote nonfinancial business my target was to switch over to nonfinancial business by the year 2015 said the letter which was dictated to his son by subroto roy but one has to go according to gods wish from 2010 we got stuck with the sebi ofcd issue cash flow went haywire the year 2012 was the worst year as far as cash flow issue is concerned everything was out of control the letter said it details the plans the company has put in place to shift its focus and enable the firm to provide jobs to its nearly 12 lakh employees with the above plan having reached its optimum level we shall be able to give respectable livelihood with a considerable growth opportunity to nearly 67 lakh people on salary basis around 4 lakh shall come in sales and most of them shall become franchisees the letter said we shall definitely very aggressively run life insurance mutual fund or may be housing finance and nothing else the letter to the pm said while urging