Supreme Court Urges Sahara Group to Clarify Leadership and Liquidate Assets for Rs 10,000 Crore Deposit

The Supreme Court has requested the Sahara Group to disclose its current leadership and shareholder details, as well as a list of unencumbered properties for potential sale to facilitate a Rs 10,000 crore deposit into the SEBI-Sahara refund account. This action aims to return money to investors following a decade-long legal issue.

The Supreme Court on Wednesday instructed the Sahara Group to clarify its current leadership and shareholder information, alongside listing unencumbered properties that could be sold to gather Rs 10,000 crore.

The collected amount is to be deposited in the SEBI-Sahara refund account to reimburse investors. This directive follows the Court's 2012 order, where Sahara firms were instructed to refund investor funds with 15% interest annually.

A bench led by Justices Sanjiv Khanna, M M Sundresh, and Bela M Trivedi emphasized the need for a practical resolution after more than 10 years. The Court seeks a roadmap from the Sahara Group while considering property sales, excluding Aamby Valley, under senior advocate Shekhar Naphade's observation.

(With inputs from agencies.)