Sahara Investor Refund : There is no restriction on the Sahara Group from selling its assets to deposit about Rs 10,000 crore in the SEBI-Sahara refund account to return investors' money. The Supreme Court said this during a hearing on Tuesday. The apex court had on August 1, 2012, directed that Sahara Group companies - SIRECL and SHICL will refund the amount deposited from the investors to SEBI with 15 percent annual interest. This interest will be payable from the date of depositing the amount till the date of repayment.

money not deposited

The bench of Justice Sanjeev Khanna, Justice MM Sundresh, and Justice Bela M Trivedi expressed displeasure over Sahara Group not depositing the amount as per the court's direction. Senior advocate Kapil Sibal, appearing for Sahara Group, said that the company was not allowed to sell its properties. On this, the bench said that there is no restriction on Sahara Group to sell its properties to deposit the remaining Rs 10,000 crore out of Rs 25,000 crore as per the court's order. The court also added that the properties should not be sold at a price lower than the circle rate. In the case of selling it at a price lower than the circle rate, prior permission from the court will have to be taken.

How much money have investors received so far?

Earlier, according to the information given by the government, till July 16, Rs 362.91 crore had been paid to more than 4.2 lakh depositors of Sahara Group's cooperative societies through the Sahara Refund Portal. The portal was launched on March 29, 2023, after the order of the Supreme Court. After applying on which, the government is currently paying a maximum of Rs 10,000 to each investor. The money of about 10 crore investors of Sahara is stuck. Earlier, the Supreme Court had ordered the transfer of Rs 5,000 crore from the Sahara-SEBI refund account to the Central Cooperative Societies Registrar (CRCS).