Sebi tries to locate Sahara investors

NEW DELHI: In a last-ditch effort to locate Sahara investors eligible for refunds, regulator Sebi has asked all such persons to submit their claims by next month, even as the group claims to have returned the outstanding dues to almost all the concerned bondholders directly.
Those who have invested in various bonds issued by two Sahara firms — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) — have been asked by Sebi to submit their refund applications along with necessary documentary proof by September 30, 2014.
This follows directions from the Supreme Court, which has asked the market regulator to facilitate refund to the bondholders of the two companies in connection with a long-running dispute involving raising of funds to the tune of over Rs 24,000 crore from nearly three crore investors across the country.
Sahara group didn’t comment on the new refund application process of Sebi.