InvestorQ : What is the status of payouts by Sahara Group on the defaults on its deposits?
Rutuja Nigam made post

What is the status of payouts by Sahara Group on the defaults on its deposits?

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1 month ago
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Sahara group confirmed that it had paid Rs.3226 crore to more than 1 million members of its four associated credit societies in the last two-and-half months. Most of the delayed payments had been due to the embargo placed over the last 8 years on the company.

The Sahara group also admitted that nearly Rs.22,000 crores was currently deposited in the Sahara-SEBI account, which was created to refund bondholders of two group firms. This can only be utilized after SEBI releases the funds.

Under the current conditions put by SEBI, any money generated through sale or mortgage of assets of the group has to be deposited in the Sahara-SEBI account as per the directives of Supreme Court. Only after the freeze was removed, it can be paid out to the rightful owners.

The Sahara group also confirmed that in the last 10 years the group had made maturity payment of Rs.140,000 crore to over 5.75 crore investors. The group still claims that the Sahara India Pariwar had assets that were 3-times the liability.

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