Will Sahara Refund Money With InterestSize – As per our readers’ demand and comments, we are publishing this article. If you want to know about Will Sahara Refund Money With Interest, continue reading and learn more.
Will Sahara Refund Money With Interest?
Yes, Sahara is supposed to refund the money with interest. In August 2012, the Supreme Court ordered Sahara India Real Estate Corporation Ltd (SIREL) and Sahara Housing Investment Corporation Ltd (SHICL) to refund the money collected from investors with 15% interest.
However, as of September 2023, Sebi has only refunded ₹138 crore to investors, which is a small fraction of the total amount that is due. This is because many investors have not yet filed claims for their refunds. Sebi has also said that it will not be able to pay interest on the refunds until all of the money has been collected from Sahara.
The government has launched a Sahara Refund Portal to make it easier for investors to file claims for their refunds. The portal was launched on July 18, 2023. Investors who have deposited money with Sahara can file their claims online through the portal.
The refund process is expected to take some time, as Sebi needs to verify the claims of all investors. However, the government has said that it is committed to refunding the money to all eligible investors.
Here are the steps on how to file a claim for a Sahara refund:
- Go to the Sahara Refund Portal.
- Create an account and log in.
- Enter your personal details and the details of your investment.
- Upload the required documents.
- Submit your claim.
Sebi will verify your claim and will refund the money to your bank account within 45 days of filing your claim.
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