Mumbai: Markets regulator SEBI on Tuesday clarified that the Sahara Group has not yet deposited the full amount as per the Supreme Court’s 2012 judgment. He has to deposit Rs 25,781 crore but till now he has deposited only about Rs 15,000 crore.
Securities and Exchange Board of India (SEBI) told reporters that SEBI is only complying with the Supreme Court order in Sahara’s case and the company is yet to deposit the prescribed amount in full. Tyagi said, “As per the order of the Supreme Court, the prescribed amount has to be recovered and deposited with SEBI. Only then can we decide what to do with that amount? We are just following the order of the court.”
Earlier in a media report, it was said that SEBI is keeping an amount of Rs 23,191 crore of Sahara Group bondholders which is deposited in an escrow account.
However, Finance Minister Nirmala Sitharaman had said in the Lok Sabha last week that till November 30, Sahara group companies – Sahara India Real Estate Corporation and Sahara Housing Investment Corporation and their promoters and directors – have deposited Rs 15, 485.80 crores, while Rs 25,781.37 crore has been deposited by them. was to return the principal amount.
