Sahara India Refund Status: When will Sahara India investors get their refund? Know when to receive good news

New Delhi: The money of lakhs of investors in the country is stuck in Sahara India. Lakhs of people in the country invested heavily in Sahara’s schemes, but years later, they are still waiting for their money. Sahara India Real Estate Corporation Limited (SIRECL) collected Rs 19400.87 crore from 232.85 lakh investors and Sahara Housing Investment Corporation Ltd collected Rs 6380.50 crore from 75.14 lakh investors, according to media reports. But SEBI was able to return only Rs 138.07 crore including interest to Sahara’s investors. A large amount of investors are still stuck in such a situation. Here, Sahara says it wants to return investors’ money, but market regulator Sebi (Sebi) has kept the money with itself.

Sahara India: Subrata Roy’s troubles increase, bank accounts to be seized! SEBI asked to deposit 6.48 crore within 15 days

Learn more about the case

SEBI received two complaints on December 25, 2009 and January 4, 2010. They say Sahara companies are issuing Optional Fully Convertible Debentures (OFCD) and raising funds through wrongful means. These complaints vindicated SEBI’s concerns. It was after this that SEBI started investigating these two companies. SEBI found that SIRECL and SHICL had raised Rs 24,000 crore through OFCD from 2 to 2.5 crore investors. SEBI had ordered these two Sahara companies to stop raising money. Along with this, Sahara investors were told to return their money with 15 percent interest. Over time, the Supreme Court and SEBI began treating the matter as money laundering. They started freezing Sahara India’s bank accounts and assets. According to a 2012 Supreme Court order, Sahara India has deposited Rs 15,503.69 crore in the ‘SEBI-Sahara Refund’ account by December 31, 2021 against Rs 25,781.37 crore deposited from investors.

The government had given this information last year

Last year, i.e. in 2022, SEBI received 19,644 applications involving 53,642 Asal Bond Certificates/Pass Books for a total of Rs 81.70 crore. Of this, SEBI refunded a total of Rs 138.07 crore to 17,526 eligible bondholders holding 48,326 original bond certificates/passbooks. This includes principal of Rs 70.09 crore and interest of Rs 67.98 crore.

From the housing sector to infrastructure, Sahara’s sting was ringing everywhere! People invested their lifetime earnings and then what happened?

People were forced to travel

Investors in Sahara Group projects. Now they are forced to move around. Media reports say people say they have yet to get their money back. Depositors have not received even the basic amount yet. Here the Securities and Exchange Board of India (SEBI) has issued notices to Sahara Group company Sahara Housing Investment Corporation (SHIC), including its chief Subrata Roy. Out of this, SEBI asked to deposit Rs 6.48 crore within 15 days. SEBI has also warned that assets and bank accounts of those who do not deposit Rs 1000 will be attached. Actually these companies have failed to pay the penalty imposed by SEBI. After this notice was given to them.

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