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Sahara deposits Rs 3,117 cr with Sebi

New Delhi: In an affidavit filed on Tuesday in the Supreme Court, the Sahara group stated that it has deposited Rs 3,117 crore so far with Sebi. The company said it is making efforts to

India TV News Desk [ Updated: July 01, 2014 12:31 IST ]
sahara deposits rs 3 117 cr with sebi
sahara deposits rs 3 117 cr with sebi

New Delhi: In an affidavit filed on Tuesday in the Supreme Court, the Sahara group stated that it has deposited Rs 3,117 crore so far with Sebi. The company said it is making efforts to raise more money to meet the condition of paying Rs 5,000 crore to get bail for its chief Subrata Roy.


Roy and two directors were sent to judicial custody on March 4 for failure of two group companies - SIRECL and SHICL - to comply with the court's order to return to investors Rs 24,000 crore that they had collected through optionally fully convertible debentures (OFCDs).

The apex court had ordered that Roy can be released on bail after depositing Rs  10,000 crore with Sebi, out of which Rs 5,000 crore was to be deposited in cash and a bank guarantee for the remaining amount.

Last month Sahara sold approximately 4.21 lakh square metres of land belonging to its residential scheme 'Sahara City' in Ahmedabad to city-based developers for Rs 464 crore.

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