Sebi has made refunds of Rs 138.07 crore to investors of two Sahara companies in 11 years, while the amount deposited in specially-opened bank accounts for the repayment has surged to more than Rs 25,000 crore.
These disclosures have been made by the Securities and Exchange Board of India (Sebi) in its latest annual report.
In the absence of claims from a majority of the bondholders of the two Sahara companies, which were asked to return the money to nearly 3 crore investors along with interest in August 2012 through a Supreme Court order, the total amount refunded by Sebi inched up by just about Rs 7 lakh during the last fiscal, 2022-23, while the balance in Sebi-Sahara refund accounts rose by Rs 1,087 crore during the year.
In its annual report, Sebi said it received 19,650 applications involving 53,687 accounts as on March 31, 2023. Of these, “refunds have been made with respect to 17,526 applications involving 48,326 accounts for an aggregate amount of Rs 138.07 crore including
| Subscribe To Our Free Newsletter |
