The Supreme Court on Friday allowed the fresh disbursal of Rs 5,000 crore from the SEBI-Sahara refund account to repay depositors of the Sahara Group of Cooperative Societies. The allocation forms part of the over Rs 24,000 crore deposited by the Sahara Group with the Securities and Exchange Board of India (SEBI).
A bench of Justices Surya Kant and Joymalya Bagchi permitted an application filed by the Centre seeking transfer of the amount for disbursement to investors. The apex court extended the timeline for this allocation from December 31, 2025, to December 31, 2026, as part of the ongoing repayment process initiated in 2023.
The Rs 5,000 crore is to be transferred from the SEBI-Sahara Refund Account to the Central Registrar of Cooperative Societies, who will disburse it to verified depositors under supervision. The bench directed that the transfer be completed within a week, under the oversight of former Supreme Court judge R. Subhash Reddy, in accordance with the court’s March 29, 2023 order.
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The Centre’s application was filed in a PIL initiated by Pinak Pani Mohanty, who sought directions to repay investors of Sahara’s chit fund companies and credit firms. According to the Centre, the total claims from depositors amount to Rs 1,13,504.12 crore, with approximately 5.43 crore investors. So far, refunds totalling Rs 5,053.01 crore have been issued to 26.25 lakh verified depositors.
A further 13.34 lakh investors have submitted claims through the online portal, which are under scrutiny. The Centre estimates that by December 2026, about 32 lakh more investors may file claims.
The SEBI-Sahara escrow account was established after the Supreme Court in August 2012 directed Sahara India Real Estate Corporation Limited and Sahara Housing India Corporation Limited to refund investors. Justice Reddy, assisted by senior advocate Gaurav Agarwal, appointed as amicus curiae, continues to monitor the repayment process.
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