Sahara Investors Update: SEBI recovers huge dues from Subrata Roy and Sahara companies, know how much has been recovered – sebi recovers pending dues from sahara group firms and chief subrata roy
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SEBI said in the recovery order, ‘The payment of dues of Rs 6.57 crore has been completed. This includes interest and other charges. Money of crores of investors of the country is stuck in Sahara Group companies. About Rs 24,000 crore is deposited in the Sahara-Sebi Fund. Recently, the government had requested the Supreme Court to allot Rs 5,000 crore out of this so that the money of 1.1 crore investors could be paid. The money of these people is stuck in Sahara Group companies for a long time. Sahara Housing and Sahara Real Estate raised money from three crore investors in March 2008 and October 2009. SEBI had on November 24, 2010 banned Sahara Group from raising money from the public in any form. Eventually the matter reached the Supreme Court and the court ordered Sahara Group to return the investors’ money with an interest of 15 per cent per annum.
Subrata Sahara has eaten the air of jail
In the year 2012, the Supreme Court had said in its decision that Sahara group companies violated SEBI laws. The companies said the money was raised from millions of Indians who could not avail banking facilities. When the Sahara group companies failed to pay the investors, the court sent Roy to jail. He has spent more than two years in jail. He is on parole since May 6, 2017. For the first time, he got parole in the name of attending his mother’s funeral, which was later extended.
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