In a major development, the Supreme Court of India has permitted a fresh disbursal of ₹5,000 crore to repay investors who deposited funds with Sahara Group’s cooperative societies.
The funds will be drawn from the SEBI-Sahara Refund Account, where unutilised amounts remain from earlier orders.
The bench of Justices Surya Kant and Joymalya Bagchi passed the order after considering submissions by Solicitor General Tushar Mehta.
The disbursal will follow the same procedures laid out in the March 2023 ruling, under the supervision of retired Supreme Court judge, Justice R Subhash Reddy.
The new release of ₹5,000 crore comes in addition to an earlier ₹5,000 crore approved in 2023. As per data presented to the Court, ₹24,979.67 crore remains in the refund account.
So far, over 26 lakh verified depositors have received refunds totalling ₹5,053 crore.
Another 13.3 lakh investors have submitted claims, which are currently under verification, with their total claimed amount exceeding ₹27,800 crore.
Authorities estimate that the total number of claimants could reach up to 32 lakh by the end of the process.
Recognising the scale of the verification and payment process, the Supreme Court extended the deadline for completing all disbursals to 31 December 2026.
This revised timeline replaces the earlier cut-off set in 2023, ensuring the authorities have ample time to verify claims and process payments correctly.
The funds are to be transferred within one week to the Central Registrar of Cooperative Societies, which will handle the distribution directly to eligible investors.
The SEBI-Sahara case dates back over a decade. In 2012, the Court had directed Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) to refund illegally raised funds to investors, along with 15% interest.
Despite several enforcement efforts and fund collections, many depositors remain unpaid.
The Court aims to restore investor confidence and uphold justice for small investors with its latest move.
The ruling shows the judiciary’s commitment to ensuring depositors receive their rightful dues.
The Court stressed that repayment must happen through verified processes and under proper oversight.
The Court expects the additional funding and extended deadline to accelerate the resolution of the long-standing Sahara refund saga.
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