After the death of Sahara Group Founder Subrata Roy, Question arose again, When will depositors get their money back?

New Delhi: After the death of Sahara Group chief Subrata Roy yesterday in Mumbai at the age of 75, the question arises when will Sahara depositors get the money. It has not yet been returned to the depositor. Identifying the real depositors has emerged as the biggest hurdle in the amount refund process. After Sahara was accused of defrauding crores of rupees from people, the court ordered the company to return the money and the company also deposited the money. But it has not yet been returned to the depositors. A handful of depositors were kicked out while others are still demanding their money. It was alleged that Sahara Group’s two companies, Sahara Engineering Real Estate Corporation Limited (SIREL) and Sahara Housing Investment Corporation Limited (SHICL) had obtained money from about 3 crore investors. The company denied the charges and started a long legal battle. At the end of 2012, the Supreme Court asked the two Sahara companies to return the money with 15 percent interest. The company was asked to deposit 24 thousand crore rupees. According to SEBI’s latest annual report, it has returned only Rs 138.07 crore to the depositors of these two Sahara companies in the last 11 years. Investors who bought bonds from Sahara have not been refunded due to non-filing of claims. In August this year, the central government launched a special Sahara Refund Portal to repay Rs 5,000 crore to depositors of the four cooperative societies of the Sahara Group.