New Delhi, March 29 : The Supreme Court on Wednesday allowed a plea by the central government seeking Rs 5,000 crore allocation out of Rs 24,000 crore, which was deposited by Sahara group with Sebi, to pay back to the depositors.
A bench headed by justice M.R.Shah and comprising Justice C.T.Ravikumar passed the direction on the application filed by the government in a PIL by Pinak Mani Mohanty.The bench said the amount should be disbursed to depositors duped by the Sahara group of cooperative societies and the entire process will be monitored by a former judge of the top court.
Mohanty, in the PIL, had sought a direction to pay to the depositors, who invested in several chit fund companies and Sahara credit firms.
Detailed order will be uploaded later in the day.
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