New Delhi ( Agency) । Supreme Court allows Centre’s plea seeking Rs 5,000 crore to repay depositors. The court on Wednesday accepted the Centre’s plea seeking allocation of Rs 5,000 crore out of Rs 24,000 crore deposited by Sahara Group with the market regulator Securities and Exchange Board of India (SEBI) for payment to depositors.
In view of the problems of the investors, the Central Government had given this application in a public interest litigation. In this, it was requested to direct the depositors investing in various chit fund companies and Sahara Credit companies to be paid from this amount. The PIL was filed by a person named Pinaki Pani Mohanty.
A bench of Justice MR Shah and Justice CT Ravikumar said that the amount should be distributed among the depositors who were duped by the co-operative societies of the Sahara group. It said the entire process would be monitored by apex court judge Justice R Subhash Reddy.
(This news is published from agency)