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This release of Rs 19.40 crore marks a pivotal step towards further restitution of additional properties, as outlined in the second charge sheet
The court has sentenced Arun Mukherjee to seven years in jail for duping investors
The chit fund is estimated to have raised Rs 15,000 crore from investors.
The total worth of the attached properties is Rs 2,380 crore (market value).
As per the SEBI order, more than 21.9 lakh investors are believed to have invested in these schemes as per the latest available records.
The agency had named former state Higher Education Minister Laxmikant Sharma and 27 others in its FIR. ED investigators, based in Madhya Pradesh's Indore, have also attached assets worth over Rs 3 crore of an alleged mastermind of the scam, Jagdish Sagar, in connection with their probe in April.
Sahara began as a scheme for small depositors, but it grew over decades with investment plans that critics say were designed to avoid regulatory scrutiny. At its height, it was one of India's biggest business empires, stretching from Formula One motor racing to New York's Plaza Hotel.
Dalia Ghosh, a 28-year-old nurse in Kolkata, invested her savings in an unlicensed fund run by media conglomerate Saradha Group last year, hoping to start her own clothes business.
The chit fund scam in West Bengal is getting bigger with market regulator Sebi turning the heat on over a dozen other companies running similar Ponzi schemes. People are rushing to withdraw Rs 20,000 crore invested in these companies.
