Investors' money of over Rs 1.12 lakh cr stuck in various Sahara group entities: Minister

New Delhi: More than Rs 1.12 lakh crore belonging to nearly 13 crore investors is stuck in various Sahara India group companies, Parliament was informed on Monday.

Following directions of the Supreme Court and advice of justice B N Agarwal appointed by the apex court in Sahara group-related matter, market regulator SEBI has issued various advertisements from time to time telling investors about the process to apply for the refund, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.

In October 2021, SEBI filed an interlocutory application seeking further directions from the Supreme Court in this matter and it is presently pending before the SC.

On the amount of investors' money stuck in various Sahara entities, he said Rs 19,400.87 crore belonging to 2.33 crore investors is stuck in Sahara Indian Real Estate Corporation Ltd (SIRECL), Rs 6,380.50 crore (75 lakh investors) in Sahara Housing Investment Corporation Ltd (SHICL) and Rs 47,245 crore (4 crore investors) in Sahara Credit Cooperative Society Ltd.

Besides, Rs 12,958 crore (1.8 crore) in Humara India Credit Cooperative Society, Rs 18,000 crore (3.71 crore) in Saharayn Universal Multipurpose Society and Rs 8,470 crore (37 lakh) is stuck in Stars Multipurpose Cooperative Society, he said.

Sahara group has deposited nearly Rs 15,507 crore (against principal amount of Rs 25,781.37 crore) related to Optionally Fully Convertible Debentures into designated 'SEBI-Sahara Refund' account, Chaudhary added.

He said the regulator is facilitating repayment of principal and interest to the investors who invested in bonds of SIRCEL and SHICL.

"SEBI made refunds with respect to 17,526 eligible bondholders involving 48,326 original bond certificates/ pass books for an aggregate amount of Rs 138.07 crore (Rs 70.09 crore as principal and Rs 67.98 crores as interest) by way of transfer through NEFT/RTGS," the minister said.