SEBI-Sahara
SC OKs govt to withdraw INR 50 bln from Sahara-SEBI fund to repay depositors
This story was originally published at 13:34 IST on 12 September 2025
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NEW DELHI - The Supreme Court on Friday allowed the Centre to withdraw another INR 50 billion from the money deposited by the Sahara group with the Securities and Exchange Board of India to repay dues of Sahara Group of Cooperative Societies. In 2023, the apex court had approved a similar request by the government for INR 50 billion.
Further, the bench of Justice Surya Kant and Justice Joymalya Bagchi extended the time till Dec. 31, 2026 for the government to distribute the amount released earlier and on Friday by the apex court. The court had earlier set the deadline as Dec. 31, 2025.
A refund account, operated by the Securities and Exchange Board of India and Sahara Group, was formed after the court in 2012 directed Sahara India Real Estate Corp. Ltd. and Sahara Housing India Corp. Ltd. to refund almost 240 bln rupees to those who had invested in their optionally fully convertible debentures between 2008 and 2011.
The top court's order came on an application filed by the Centre on a public interest litigation by a person named Pinak Pani Mohanty. The public interest litigation petitioner had sought a direction to pay the amount to the depositors who invested in several chit fund companies and Sahara credit firms. End
Reported by Surya Tripathi
Edited by Vandana Hingorani
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