Sahara issue still live after Subrata’s demise, says Sebi

Burning Issue

• Refunds were only Rs138 cr
• Though Sahara group was asked to deposit Rs24,000 cr with Sebi
• SC in 2012 ordered refund of deposits with 15% interest

Mumbai: Sebi Chairperson Madhabi Puri Buch on Thursday said the Sahara matter will continue for the capital markets regulator even after the death of the group’s founder Subrata Roy. Roy died in Mumbai on Tuesday after a prolonged illness at the age of 75.

Speaking to reporters on the sidelines of a Ficci event, Buch said for Sebi, the Sahara matter was about an entity’s conduct and added that it will continue regardless of whether an individual is there or not.

When asked why the refunds have been too less, Buch said the monies were returned through a Supreme Court-appointed committee basis the evidence of the claims made by investors.