Subrata Roy, founder of Sahara Group, has passed away recently. After his death, the government can now get a profit of thousands of crores of rupees. It is being claimed in the news that the government is considering legal options to transfer Sahara’s unclaimed funds to its treasury.
The government is considering this matter
According to an Economic Times report, the government is looking into the legal aspects of how the money lying in the Sahara-SEBI refund account can be transferred to the Consolidated Fund of India, for which till now no Has not made a claim. According to the report, after the death of Sahara founder Subrata Roy last week, the government has started thinking about this.
He died in Mumbai last week
Talk about Subrata Roy. So he had built a huge business empire under Sahara Group. He was admitted to Kokilaben Dhirubhai Ambani Hospital in Mumbai last Sunday due to deteriorating health. He died during treatment on Tuesday 14 November. He was 75 years old. Sahara Group had released an official statement regarding his demise.
No claimants are coming forward
Sahara to return the money of the investors who invested in Sahara Group. SEBI refund account was created. This account was created 11 years ago. ET’s report states that in the last 11 years, not a single claimant has come forward to claim the money kept in the SEBI Sahara Refund Account. Quoting an official, the report said that for this reason the government is now considering transferring the fund to a separate account with the Consolidated Fund of India. After that, a separate arrangement can be made to return the investors’ money.
Funds worth thousands of crores are unclaimed
So far, Rs 138 crore has been paid to 17,526 applicants of Sahara Group. Has been done, in which 48,326 accounts are involved. According to the data till March 31, the figure of recovery made from accounts opened in Sahara Group and various government banks is Rs 25,163 crore. If seen in this way, there is currently a fund worth more than Rs 25 thousand crores, for which claims have not been received and which can now be transferred to the government treasury.
Can be used for these purposes
Recently, Home Minister Amit Shah had started the campaign to return money to the investors of Sahara Group, for which a special portal has been started. Rs 5000 crore has been transferred to the Central Registrar of Cooperative Societies to return money to investors. Even after that, an amount of more than Rs 20 thousand crore is left in the refund fund. According to the report, in case SEBI is not able to find the claimants for this fund, the government can use it. The money can be used on schemes for the welfare of the society or the welfare of the poor.