Sitharaman Reveals Sahara Refunds: Only Rs 138.07 Crore Disbursed of Rs 25,000 Crore Due

Finance Minister Nirmala Sitharaman announced that only Rs 138.07 crore has been refunded out of the Rs 25,000 crore owed under Sahara schemes. Despite multiple Supreme Court-directed ad campaigns, the refund process has seen limited success. A portal has been created to encourage more claimants.

Finance Minister Nirmala Sitharaman on Monday revealed that only Rs 138.07 crore has been refunded to investors out of the Rs 25,000 crore owed under two Sahara schemes. Addressing the lower house, Sitharaman stated that out of 19,650 claims, only 17,256 met the criteria, resulting in the limited refund amount.

Repeated attempts through public outreach advertisements have failed to yield significant results, Sitharaman informed Parliament. She highlighted that the Supreme Court's directive to SEBI for the refund, related to three Sahara companies, has been ongoing since 2012 but has struggled to make substantial progress.

Sitharaman emphasized the need for more claimants and urged parliamentarians to encourage eligible investors to register on a government portal. She reassured that a committee, including a retired judge, will scrutinize claims to ensure rightful distribution. Stressing the government's commitment, she noted that the central government is under constant monitoring by Supreme Court panels to oversee the refund process.

(With inputs from agencies.)