SC asks Sahara Group to furnish list of top officials, properties for sale

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SC asks Sahara Group to furnish list of top officials, properties for sale - Business Standard

Quick Summary:

In a series of directions on August 31, 2012, the top court had directed that Sahara Group firms Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) would refund the amount collected from individual investors or group of investors, with interest of 15 per cent per annum to SEBI from the date of receipt of the subscription amount till the date of repayment within three months.

The Supreme Court on Wednesday asked the Sahara Group to apprise it of its officials at the helm and the current shareholders besides the list of unencumbered properties which can be sold to realise Rs 10,000 crore.

The amount has to be deposited in SEBI-Sahara refund account for returning the investors' money.