The amount of Rs 10,000 crore has to be deposited in SEBI-Sahara refund account for returning the investors' money, in compliance with the apex court's 2012 order.
Senior advocate Kapil Sibal, appearing for the Sahara Group, said the company was not given opportunity to sell its properties and moreover no one came forward or is coming forward to purchase the properties as there was embargo on selling them.
New Delhi, May 18 Sahara Group has criticised the upcoming series titled "Scam 2010 - The Subrata Roy Saga", calling it an "abusive and grossly cond..
When he was at the zenith of his power, Roy was surrounded by top industrialists, film stars, sportspersons and corporate captains. That ended when he was sent to Tihar jail, a stint that almost broke him.
Subrata Roy made a promising start as a high flying business magnate only to lose his way, descending into irrational excesses and breaking the trust of small investors wooed by the promise of exponential returns. Once the garden variety scam was exposed, all his attempts to raise funds and salvage his ventures floundered
Sahara India Refund Portal: The SC in a March 29 order had directed the transfer of Rs 5,000 crore from the "Sahara-SEBI Refund Account" to CRCS in relief for genuine depositors linked to the Sahara Group of Cooperative Societies.
To address the grievances of genuine members/ depositors of the Sahara Group’s cooperative societies, the ministry filed an application in the Supreme Court.