Who Inherits Sahara's ₹25,000 Crore? Unveiling the Fate of Undistributed Funds

Sahara Group's founder, Subrata Roy, left behind over ₹25,000 crore in undistributed funds with the share market regulator after his recent death.

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The fate of Sahara's unclaimed funds is uncertain; questions arise about whether they will be refunded to the Consolidated Fund of India.

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Despite Subrata Roy's demise, the Securities and Exchange Board of India (SEBI) is cautious about prematurely transferring the funds, citing an ongoing refund portal process.

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The government has paid ₹230 crore to 2.5 lakh investors through the Sahara refund portal, and new registrations continue, delaying any potential transfer to the Consolidated Fund.

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Money from the funds lying with SEBI has been transferred to the refund portal within 45 days of registration, following the launch of the portal by Union Co-operative Minister Amit Shah in July.

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Subrata Roy's troubles began in 2012 when the Supreme Court directed Sahara companies to repay investors ₹25,000 crore to SEBI, leading to the use of co-operative societies to raise funds.

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The government, acting under Supreme Court guidance, has transferred ₹5,000 crore from SEBI to investors through the Sahara refund portal, with potential for further transfers.

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With 2.76 crore depositors, primarily retail investors, 97% of whom invested less than ₹40,000, the government records show a majority of investors were from Uttar Pradesh and Bihar.

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