Sahara remitted ₹11,036 cr: SEBI

Mumbai | Updated on January 27, 2018 Published on March 23, 2017

In a disclosure SEBI has said that Sahara has remitted a total of ₹11,036 crore (including bank interest) to the SEBI-Sahara Refund Account with another ₹690.73 crore deposited in another savings bank account. The amount refunded to bondholders so far is ₹54.43 crore, according to the 2016 annual accounts of the regulator. In the SEBI-Sahara case, the apex court had ordered the Lucknow-based conglomerate to deposit ₹24,000 crore with SEBI, which the company had collected from nearly three crore investors by issuing bonds for purported investments in real estate. In SEBI’s case against PACL, the regulator said it has collected ₹211.27 crore (₹212.02 crore with interest) which is lying in a designated bank account. Our Bureau

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Published on March 23, 2017
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