Sahara Group makes fresh proposal before Supreme Court

On March 07, the Supreme Court had rejected the repayment proposal from the Sahara Group for not coming out with a proper proposal for refunding Rs.20,000 crore of investors money and asked it to come out with an "honourable" plan. The Sahara group submitted that it was ready to make cash payment of Rs 2,500 crore within three days and gave an assurance that it will pay the rest of Rs 14,900 crore in five installments by the end of July, 2015. A bench of justices K S Radhakrishnan and J S Khehar rejected the proposal after SEBI also opposed it on the ground that group is supposed to pay Rs 34,000 crore and not just Rs 17,400 crore.

Today, the Sahara Group has made fresh proposals before Supreme Court regarding refunding of around Rs 20,000 crore to investors.