Good News! Sahara India to Refund Money, Supreme Court’s Big Decision

Sahara India: The Supreme Court has expressed displeasure over Sahara Group’s failure to comply with its orders for over 10 years. The court has now ordered the group to refund investors’ money by selling its properties.

If you are one of the lakhs of investors who have their money stuck in Sahara India’s savings schemes, then there is good news for you. The Supreme Court has rebuked Sahara Group, saying that it has not complied with its orders to refund investors’ money. The court has directed the group to return the money by selling its properties.

Deposit of 10,000 Crore

In the SEBI vs Sahara case, the Supreme Court has said that Sahara Group can sell its properties to refund investors’ money. The court has stated that Sahara Group’s companies, SIRECL and SHICL, must return the money to individual investors or groups with 15% annual interest. This direction was given by the court on August 31, 2012.

Supreme Court’s Rebuke

The Supreme Court has expressed displeasure over Sahara Group’s failure to comply with its orders. The court has said that the group must refund the money within three months from the date of deposit. The three-judge bench, comprising Justices Sanjeev Khanna, MM Sundresh, and Bela M Trivedi, has ordered Sahara Group to sell its properties to refund investors’ money.

10 Years of Non-Compliance

The Supreme Court judges have expressed annoyance during the hearing, saying that more than 10 years have passed since the order was given, but Sahara Group has not complied. The court has now ordered the group to refund investors’ money by selling its properties. According to reports, around three crore investors from Bihar, Jharkhand, Uttar Pradesh, and Madhya Pradesh had invested in Sahara Group’s four cooperative societies.