Sebi has made refunds totalling only around Rs 138 crore as on March 31 even though the amount earmarked for refunds to the investors was pegged at a whopping Rs 25,163 crore
Once Among Country s Most Influential, Subrata Roy Leaves Behind a Controversial Legacy thewire.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thewire.in Daily Mail and Mail on Sunday newspapers.
Sahara once owned an airline, sports teams, hotels in London and New York, financial companies, mutual funds and life insurance companies, the Aamby Valley township, and a huge land bank. Most of these assets are now under attachment or have been sold
The death of Sahara Group s chief Subrata Roy has brought attention to undistributed funds totaling over Rs 25,000 crore in the capital markets regulator Sebi s account. In 2011, Sebi ordered two Sahara Group firms to refund money raised from nearly 3 crore investors through Optionally Fully Convertible Bonds (OFCDs), report said.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the death of Sahara Group's chief Subrata Roy.