Sahara India Refund 2022: If your money is also stuck in Sahara India, then there is news of work for you. The government has given this information in the Lok Sabha. Actually, the number of people investing money in Sahara India is in crores.
Union Minister of State for Finance Pankaj Choudhary said on Monday that around 13 crore investors worth Rs 1.12 lakh crore are stuck in various units of Sahara Group. Union Minister Pankaj Chaudhary gave this information in a written reply to a question in Lok Sabha.
Where are investors’ money?
Giving this information, the Union Minister said, “Following the orders of the Supreme Court and after consultation with Justice BN Agrawal appointed by the apex court in the Sahara case, the Securities and Exchange Board of India (SEBI) has given several advertisements telling investors to withdraw money. What is the process of application for. 1.12 lakh crore rupees of about 13 crore investors are trapped in many units of Sahara.
SEBI imposed fine
Let us tell you that earlier, the market regulator SEBI has approved two companies of Sahara Group, Sahara Commodity Services Corporation Ltd. and Sahara Housing Investment Corporation Ltd. Along with Subrata Roy and three others were fined Rs 12 crore. The penalty was imposed in 2008 and 2009 for violation of regulatory norms in issuance of voluntarily fully convertible debentures. Apart from this, investors of Sahara India Parivar have also held protests for their refunds at different places continuously this year. Actually, crores of investors in the country are worried about the refund of money stuck in Sahara.
How many refunds have you received so far?
The Supreme Court ordered on August 31, 2012, after which Sahara India has deposited Rs 15,503.69 crore in ‘SEBI-Sahara Refund’ account till December 31, 2021, against the principal amount of Rs 25,781.37 crore deposited from investors. According to the information given by the Minister of State for Finance, SEBI has received 19,644 applications related 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.
