Sahara Investors Refund supreme court directs company to deposit 1000 crore within a month

The hope of Sahara Group investors getting their stuck money has increased. In this case, the Supreme Court gave an important decision on Thursday, which can prove to be a relief for Sahara investors. The Supreme Court has asked the group to deposit Rs 1000 crore within 1 month.

Supreme Court gave instructions to these two companies

The Supreme Court has given this direction to two companies of Sahara India Pariwar, Sahara India Real Estate Corp and Sahara Housing Investment Corp. They have been asked to deposit Rs 1000 crore within the next 30 days. Both the companies have been asked to deposit this amount in SEBI-Sahara Fund. Depositing the amount in SEBI-Sahara Fund will increase the chances of investors getting their stuck money.

Refund portal started more than a year ago

Union Home Minister Amit Shah launched the Sahara Refund Portal in July last year. The portal was launched to provide refunds to crores of investors who had invested their hard-earned money in various schemes of Sahara. However, even after more than a year of the launch of the Sahara Refund Portal, many investors have not been able to get their stuck money.

Sahara group deposited only 15 thousand crores

Actually, the Supreme Court had asked the Sahara Group to deposit Rs 25,000 crore in the SEBI-Sahara Fund. So far, the Sahara Group has deposited only Rs 15,000 crore in the fund. This means that as per the Supreme Court's order, the Sahara Group companies are still short of Rs 10,000 crore in the fund they were supposed to deposit. The investors are being given their stuck money from this fund.

Money from the sale of any property will come to SEBI-Sahara Fund

The Supreme Court has also asked Sahara to form a joint venture or enter into a land development agreement to meet the shortfall in funds. This direction is for Sahara's Versova property. The Supreme Court has also said that if any company of the Sahara Group sells any other property, the money received from it will be deposited in the SEBI-Sahara Fund. The Supreme Court will hear the case again after a month and will see to what extent Sahara has followed its instructions.

Also read: RTI revealed the truth about Sahara refund portal, only 0.27% of claims have been paid