How is Rs 24,000 cr Sahara dues Rs 5,120 cr?

Subrata Roy. AFP

In an order dated 31 August the Court had the two companies of the Sahara on investor funds within three months, with 15 percent interest, return Sebi ordered. That deadline expires tomorrow, 30 November. The money is to be issued after verification of the documents of application.

Sahara had SAT approached looking for a order that Sebi would accept both force are loads of documents and the final payment of Rs 5,120 crore. SAT decreased to issue any order says that it was premature.

There are messages in the press, particularly Business Standard, which indicates that the Sahara pressure pressure OFCD investors to invest in other group arrangements was, including by before the letter from the permission of investors to dates prior to the judgment.

It is not known whether Sebi Sahara the truncated cheque will accept, because documents to the Supreme Court talked about more than three crore investors and outstanding amounts of Rs 24,000 crore.

The big question is: how Rs 24,000 crore Rs only 5,120 crore in a matter of months has become?

We have not heard the last on this issue. More Court battles are in the offing.

Securities appellate tribunal order

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