Subrata Roy Death: After the death of Sahara Group owner Subrata Roy, what will happen to the money of people trapped in Sahara’s financial schemes. Everyone wants to know the answer to this. Meanwhile, a big information has come to light. The central government can take possession of the unclaimed amount lying in the Sahara-SEBI refund account. According to media reports, this amount is currently lying in special bank accounts to be returned to Sahara’s investors.
Government is considering this
The government is considering the legal aspects of how the money lying in the Sahara-SEBI refund account, for which no one has claimed so far, can be transferred to the Consolidated Fund of India. Let us tell you that after the death of Sahara chief Subrata Roy last week, the government has started thinking about this. Sahara SEBI Refund Account was created to return the money of investors who had invested in Sahara Group. This account was created 11 years ago.
Unclaimed fund worth thousands of crores
According to media reports, till March 31, the total amount recovered from the group and deposited in government banks was Rs 25,163 crore, of which Rs 138 crore was paid on 17,526 applications involving 48,326 accounts. Following the Supreme Court’s decision earlier this year in March, Rs 5,000 crore was transferred to the Central Registrar of Cooperative Societies for payment of valid dues of genuine depositors of Sahara Group’s cooperative societies. A dedicated portal was created for refunds.
Investment of Rs 9 crore in Sahara Group
Nine crore people from across the country have invested in Sahara Group. Earlier, the Central Cooperative Department had promised to return Rs 5 thousand crore through Sahara Refund Portal. Investors have filled their investment information on this portal. Investors are waiting to get their money back.
Sahara chief passes away
Sahara Group chief Subrata Roy died due to cardiorespiratory arrest in a Mumbai hospital on Tuesday. Making a modest start in 1978 with a capital of only Rs 2000, he built Sahara India over several decades. The group claims on its website that it has 9 crore investors and customers. He has a net worth of Rs 259,900 crore, 5,000 establishments and a land bank of 30,970 acres.