Sahara Refund Portal Uncertainty Amid Passing of Founder: Investors Seek Clarity
Pune, 15th November, 2023 – The recent demise of Sahara India founder, Subrata Roy, has raised concerns among investors about the fate of their invested amounts. A few months ago, the Sahara Refund Portal was introduced to facilitate the return of funds to Sahara investors.
As the mourning atmosphere surrounds Subrata Roy’s passing, investors are now grappling with uncertainties about the continuity of the Sahara Refund Portal process. Numerous investors, who have entrusted their capital with Sahara India through four cooperative societies, are seeking clarity on the potential return of their investments.
In 2012, the Supreme Court directed Sahara Group to repay investors along with interest. Consequently, the central government initiated the Sahara Refund Portal to facilitate the return of funds. Investors can apply on this portal to reclaim their money.
It is essential to note that the refund process is exclusively online and completely free. In case investors encounter any issues, they can reach out to the toll-free numbers (1800 103 6891 / 1800 103 6893). Over the last 11 years, the Securities and Exchange Board of India (SEBI) has returned Rs 138.07 crore to investors. The invested amount is held by SEBI and will be accessible to those who apply online.
The downfall of Sahara India began with the Initial Public Offering (IPO) of Prime City, leading to SEBI freezing Sahara India’s account and initiating legal proceedings. Following the Supreme Court’s decision in the case, Subrata Roy spent two years in Tihar Jail, being released on parole in 2016.
