SEBI: Money of lakhs of people is stuck in Sahara Group. Recently, Sahara Group chief Subrata Roy has also passed away.
After this, there are many questions in the minds of investors whether they will get their stuck money back or not? Meanwhile, a new report has come out.
It has been claimed in this report that transfer of Sahara’s money to the Consolidated Fund is being considered. The Economic Times report claims that consideration is being given to transferring the unclaimed funds of the Sahara-SEBI refund account to the consolidated fund. At the same time, legal advice is also being taken from the government on this matter.
In such a situation, if any investor makes a claim regarding the fund in future, the money can be returned to him. According to the information, more than Rs 25 thousand crores were recovered from Sahara Group and after this only about Rs 138 crores were transferred till March 31. The remaining money was deposited in a government bank.
In the year 2012, the Supreme Court had upheld the decision of SEBI in which SEBI had ordered Sahara Group to return the investors’ money with interest. Along with this, the Supreme Court had also said about depositing funds with the government. It was said by the Supreme Court that if the investors are not identified even after verification, then such funds will be deposited with the government.
However, even at present, not many investors have come forward. During the conversation with ED, the officer claimed that the unclaimed money of such investors can be used in schemes related to social development. Let us tell you that a web portal has also been launched to get the money back to the investors.