Context :
Sahara
refunds: Sebi gets request for only Rs 138 crore against Rs 25,000 crore
attached … IE / 08 Aug 2023
Extract :
The Securities and Exchange Board of India (Sebi) has made
refunds of Rs 138.07 crore to investors of two Sahara
companies in 11 years, while the amount deposited in
specially-opened bank accounts for the repayment has surged to
more than Rs 25,000 crore, the
regulator in its Annual Report.
In the absence of claims
from a majority of the bondholders of the two Sahara companies, which were
asked to return the money to nearly 3
crore investors along with interest in August 2012 through a Supreme Court
order, the total amount refunded by Sebi inched up by just about
Rs 7 lakh during the
last fiscal, 2022-23, while the balance in
Sebi-Sahara refund accounts rose by Rs 1,087 crore during the year.
Sebi said it received 19,650 applications involving 53,687
accounts as on March 31, 2023. Sebi said pursuant to various orders passed by
the Supreme Court and the attachment orders passed by the regulator, an aggregate
amount of Rs 15,646.68 crore has been
recovered by it as of March 31, 2023.
My Script :
Ø Be-Sahara
Shree ? ……………………….. 05 June 2014
Extract
:
Then within a few weeks , Supreme Court wants him to hand over to SEBI , Rs 24,000 Crores that SEBI claims he raised illegally from " Public "
But Subroto says ,
" What public ?
I am ready to pay-off all of my depositors , if only , they would come forward to
claim their deposits
I have raised , a few rupees each ( Rs 5 - Rs 10 ), from millions of small
depositors , all of
whom , gave their
" Kanpur - Lucknow Road "
recent Lok Sabha
elections ) , businessmen / bureaucrats / film stars etc
> Each of them have given
this in CASH to Sahara-Shree ( Range : Rs 10 –
100 crores )
> Sahara-Shree knows
that they don't dare to publicly ask him to return
their
deposits . He managed to render them
be-sahara !
> Neither Sahara, nor
SEBI have true addresses of those fake depositors
So , what happens now ?
> Subroto will be
forced to sell most of his properties to raise money
Supreme Court may appoint some world-famous Real Estate
Consultants to conduct e-Auctions for each of these assets
> SEBI will have a windfall of Rs 24,000 Crores that no one wants
!
हेमेन उक्तवान् : मया भवद्भ्यः
एवम् उक्तम् आसीत्
Hemen said : I had told
you so
With regards,
Hemen Parekh
www.hemenparekh.ai / 09
Aug 2023
Related Readings :
Ø Convert
black to white - sebi way ………………………… 15 June 2016
Ø Small
Creditors : finally no more Be-Sahara ?
……. 18 July 2023
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