When will the 13 crore Sahara India investors receive their refunds, the government announced in the Lok Sabha, which is big news.

Refund for Sahara India 2022: If your money is also frozen in Saharan India, there is good news for you—work is available. This information was provided to the Lok Sabha by the government. The actual number of investors in Sahara India is measured in crores. According to Pankaj Choudhary, Union Minister of State for Finance, there are roughly 13 crore investors with a total stake of Rs. 1.12 lakh crore in the Sahara Group’s different businesses. This information was provided in a written response to a question in the Lok Sabha by Union Minister Pankaj Chaudhary.

Where is the money of investors?
Giving this information, the Union Minister stated: “The Securities and Exchange Board of India (SEBI) has issued several advertisements advising investors to withdraw money in accordance with the Supreme Court’s orders and following consultation with Justice BN Agrawal, who was appointed by the apex court in the Sahara case. What is the application process for? A total of 13 crore rupees (1.12 lakh crore rupee) in investors’ money is locked in numerous Sahara units.

SEBI levied a penalty
Let us remind you that two Sahara Group entities, Sahara Commodity Services Corporation Ltd. and Sahara Housing Investment Corporation Ltd., have already received approval from market regulator SEBI. In addition to Subrata Roy, three other people received a Rs 12 crore penalty. The fine was assessed in 2008 and 2009 for breaking regulatory guidelines when fully convertible debentures were issued freely. Additionally, Sahara India Parivar investors have protested consistently this year in several locations for their reimbursements. Actually, the return of the money locked in the Sahara is causing millions of investors national anxiety.

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How many reimbursements have you already gotten?
Sahara India has deposited Rs 15,503.69 crore in the “SEBI-Sahara Refund” account until December 31, 2021, against the principal amount of Rs 25,781.37 crore submitted from investors, as per the Supreme Court’s ruling of August 31, 2012. The Minister of State for Finance reported that SEBI has received 19,644 applications pertaining to 53,642 original bond certificates or passbooks, totaling Rs 81.70 crore in principal. Of these, SEBI has given 17,526 qualifying bondholders 48,326 original bond certificates or passbooks worth a total of Rs. 138.07 crores.

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