Sahara India Investor’s Refund Status 2022: If you or someone you know is stuck in Sahara India, then this news is very important for you.
New Delhi: Sahara India Investor’s Refund Status 2022: If you or someone you know is stuck in Sahara India, then this news is very important for you. The government was informed in Parliament on Monday that when will the investors get their money back?
SEBI was able to refund only 138.07 crores
The government told in Parliament that SEBI has so far been able to refund only Rs 138.07 crore including interest to the investors of Sahara. Responding to a question, Minister of State for Finance Pankaj Choudhary said on Monday that 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.
15,503.69 crore deposited in the account
As per Supreme Court order dated August 31, 2012 and subsequent orders, Sahara India has deposited Rs.15,503.69 crore in ‘SEBI-Sahara Refund’ account as on December 31, 2021 against the principal amount of Rs.25,781.37 crore deposited from investors .
A total of 19,644 applications were received
The Minister of State for Finance said that SEBI has received 19,644 applications relating to 53,642 Original Bond Certificates/Pass Books for a total principal amount of Rs 81.70 crore. Of these, SEBI has refunded 48,326 original bond certificates/passbooks to 17,526 eligible bondholders totaling Rs 138.07 crore.
Unable to trace data
The government stated that the remaining applications were closed either due to non-trace of their records in the documents and data provided by SIRECL and SHICL or due to non-receipt of no response from the bondholders on the queries raised by SEBI.
More directions sought from Supreme Court
According to Pankaj Choudhary’s statement in the Lok Sabha, SEBI has made the refund based on the directions issued by the Supreme Court from time to time and the advice given by Supreme Court-appointed Justice (Retd) BN Agarwal. SEBI has also filed an interlocutory application on 21.10.2021, seeking further directions from the Supreme Court in the matter.
When will investors get their money?
Responding to the question of when the investors of Sahara India will get their money back, Minister of State in the Finance Ministry Bhagwat Karad said that the Securities and Exchange Board of India has appointed two special Sahara companies namely Sahara India Real Estate Corporation Limited and Sahara Housing Investment Corporation Limited. related orders have been issued.
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