Sahara India Pariwar continues payment to depositors

Sahara India revealed that it has re-paid 3,226 crore in the last 75 days to its depositors and assured to repay every single depositor.

“Out of the total amount paid, only 2.18 per cent payment were made against requests made by different people to us for premature payments etc., and they all have been paid. The rest was paid on maturity of their term,” said a top executive of the group.

Promising that every investor would be repaid, the official claimed that in the last decade, the group has paid maturity payment of a whopping amount of 1.4 trillion among its 57.6 million investors. “Of this, only 40 per cent cases are of reinvestment and rest of the investors have been paid in full,” the executive added.

The present liquidity tightening is the result of embargo imposed from the last eight years by the Supreme Court, and any amount generated from selling or mortgaging the assets of the company will be deposited in the Sahara-Sebi account, as per the directives of Supreme Court, the official said.

“Of this, we cannot use even a single rupee for organizational work, and not even for repayment to the investors,” the official said.

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On the Sebi-Sahara fund, the official said, “Till date, 22,000 crore, including interest amount is already deposited in the Sahara-Sebi account, however, despite giving four rounds of ads in 154 papers in the past eight years, Sebi has repaid only 106 crore to the investors.”

“The only reason that the Sebi didn’t receive any further claim was that Sahara Group had already repaid to its investors. According to the directives of the Supreme Court, this amount of 22,000 crore will come back to Sahara India after due verification,” he said.

“’The Sahara India Pariwar has assets three times its liability. Therefore, every investor should be rest assured regarding their repayment,” the official added.

On the Sebi-Sahara fund, the executive said, till date, approximately 22,000 crore, including interest, has been deposited in the Sahara-Sebi account.

Sahara India has been the primary company that introduced non-banking finance to the remotest areas of the country. Apart from this, the company has been dealing in numerous industries like Automobile Sector, healthcare and real estate.

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