Sahara India Pariwar on Wednesday informed the Patna High Court that more than 24,000 crore is lying deposited with Sebi for making repayment to investors of Sahara Group companies. Sebi has made repayment of about128 crore in the last nine years, according to a press release.
There was no bar in the order passed by the Supreme Court that Sebi will not make repayment to the investors of other group companies, Umesh Prasad Singh, counsel for Sahara, said in a written response on Tuesday in pursuance of the summons issued by the Patna High Court.
The high court directed Sebi to file its response in writing on or before March 25. The court further directed that a responsible officer from Sebi’s head office in Mumbai be present in the court on March 28 to answer the questions posed by the HC.
