In 11 years, the Sahara-Sebi Refund Account was able to identify and pay 17,526 applicants involving 48,326 accounts, but the payout was of only Rs 138 crore. How much can a new fund, guarded by an online portal, be able to achieve?
The Supreme Court allowed on Wednesday a petition filed by the Central government, seeking allocation of Rs 5,000 crore out of Rs 24,000 crore deposited by the Sahara group with market regulator Sebi to repay more than 1.1 crore investors, who had put their life savings in four multi-state cooperative societies run by the Sahara Group.