After SC verdict, Sahara assures depositors their funds safe

After SC verdict, Sahara assures depositors their funds safe New Delhi: The Sahara group tonight assured its depositors and investors that their money is safe and there will not be any delay in payment commitment from its side.

The group also said the depositors need not worry about anything since it is the "most dutiful" and "absolute honest" custodians of their money.

Sahara was reacting to the Supreme Court judgement which directed two of its companies to refund around Rs 24,000 crore to their investors within three months with 15 percent interest per annum.

The group also claimed that in the last 33 years there is not a single complaint of non-payment, whereas it had paid around Rs.1,40,000 crores maturity/redemption against the enrollment of around 12 crores investors.

"We want to inform all our depositors and investors that you need not worry about anything...As Sahara is the most dutiful and absolute honest custodians of your money...And there cannot be even one day delay in any payment commitment of Sahara," it said in a statement.

The group also said there is not a "single benami money" with it.

It alleged that the authorities concerned presented facts incorrectly before the apex court and in such a manner so as to create a "false and negative" perception about the group.

The Sahara group also said it has not done anything ever against the law or spirit of law and has not done "one rupee black money."

It blamed "irresponsible" people to conclude that the funds with the group is all "ill-gotten money" and "from the politicians" whereas around 90 percent of its depositors are those very small investors.

PTI