Sebi’s refund to investors of 2 Sahara firms rises to ₹138 crore in 11 years

livemint.com:

₹138.07 crore to investors of two Sahara companies in 11 years. While the amount deposited in specially-opened bank accounts for the repayment has increased to over ₹25,000 crore, the Sebi also said in its latest annual report.

After a Supreme Court order in August 2012, the two Sahara companies were ordered to return the money to nearly 3 crore investors along with interest. Sebi received 19,650 applications involving 53,687 accounts as on March 31, 2023 for the refund, it said..

Of these, “refunds have been made with respect to 17,526 applications involving 48,326 accounts for an aggregate amount of ₹138.07 crore including the interest amount of ₹67.98 crore," The total amount refunded by Sebi rose by just ₹7 lakh during the last fiscal year 2022-23, while the balance in Sebi-Sahara refund accounts rose by ₹1,087 crore. Sebi said.