Supreme Court Extends Timeline, Orders Fresh ₹5,000 Cr Payout to Sahara Investors

The Supreme Court has permitted the release of an additional ₹5,000 crores from the SEBI-Sahara refund account to repay depositors, extending the deadline for completing the disbursement process.

The direction was passed on an application filed by the Centre in a PIL initiated by Pinak Pani Mohanty, who sought a direction for payment to the depositors who invested in several chit fund companies and Sahara credit firms.

The funds, previously deposited by the Sahara Group under court directives, will be used to compensate genuine investors who have yet to receive their dues.

The court emphasised transparency and expediency in the repayment process, monitoring the implementation through SEBI.

[Pinak Pani Mohanty v UOI]