Finding it hard to fathom that Sahara paid back an amount as large as Rs 18,000 crore in such a short notice, the Supreme Court has asked the company to specify the source of the money.
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Sahara had said that it has refunded Rs 18000 crore to investors. The SC sought to know the exact source of the funds. However, at the time, Sahara promoter Subrata Roy’s lawyer Kapil Sibal had told the apex court that it was not possible for them to pay back the amount within the requested timeframe.
The Supreme Court said, “is hard to digest that so much money has been refunded in such a short span”, according to an ANI tweet.
The Supreme Court said that it was hard for them to digest that so much money was refunded in such a short span of time, ANI reported.
The next hearing for the Sahara case has been scheduled for September 16.
Sahara then sought the permission of the court to bring money from London, where it had got an advance against one of its properties, the Governor’s House Hotel.
“It is hard to digest that you paid Rs 23,000 crore to the investors in just two months”.
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In this long-running case, the Supreme Court had ordered Sahara in August 2012 to deposit with capital market Sebi over Rs 24,000 crore collected from almost three crore investors through issuance of certain bonds.
