Sahara India Pariwar Accuses SEBI Of Contempt Of Court

Sahara Group hits back to say SEBI is biased and Rs. 22,500 Crore will eventually come back to the group after due verification

Posted : 23 November, 2020
Author : Admin
Sahara India Pariwar Accuses SEBI Of Contempt Of Court

Sahara India Pariwar, today issued a statement on Securities and Exchange Board of India’s (SEBI’s) 
claim and said that SEBI has done Contempt of Court. There is a clear order of Hon'ble Supreme Court
of India, which says that Sahara should deposit only the principal amount which is around Rs. 24,700 Crore out
of which Sahara has already deposited Rs. 22500 Crore (including interest). This is absolutely wrong demand by 
SEBI and it has mischievously added 15% interest on the principal amount so they are very wrongfully mentioning 
Rs. 62,600 Crore.

The reason is clear that SEBI despite giving four rounds of advertisements in 154 newspapers in last 8 years 
across the country, has repaid only Rs. 107 Crore to the esteemed investors. In its last advertisement that 
was published around a year ago, SEBI made it clear that it would not entertain any further claim thereafter. 
It means that for SEBI there is no more claimant at all. How can there be claimants since Sahara has already paid back, 
long time back. SEBI is acting biased. It is a typical case of double payment. As per the directives of the 
Hon’ble Supreme Court, this amount of Rs. 22,500 Crore will eventually come back to Sahara after due verification.