The Securities and Exchange Board of India (Sebi) has made refunds of Rs 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 surged to more than Rs 25,000 crore, the regulator in its Annual Report.
In the absence of claims from a majority of the bondholders of the two Sahara companies, which were asked to return the money to nearly 3 crore investors along with interest in August 2012 through a Supreme Court order, the total amount refunded by Sebi inched up by just about Rs 7 lakh during the last fiscal, 2022-23, while the balance in Sebi-Sahara refund accounts rose by Rs 1,087 crore during the year.
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