2023 (3) TMI 1335

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....ion being I.A. No. 56308 of 2023 has been preferred by the Union of India, Ministry of Corporation for appropriate directions to transfer an amount of Rs. 5,000 Crores out of unutilized amount of Rs. 23,937 Crores (lying in "Sahara-SEBI Refund Account") to be disbursed against the legitimate dues of depositors of Sahara Group of Cooperatives Societies. 2. Shri Tushar Mehta, learned Solicitor Ge....

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....unt deposited in "Sahara- SEBI Refund Account" is lying unutilized and in fact due to large number of continuing complaints against the Sahara Group of Cooperative Societies and the amount lying unutilized is also consisting of the amount of the depositors of Sahara Group of Cooperative Societies, if Rs. 5,000 Crores is transferred to the Central Registrar of Cooperative Societies and thereafter t....

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....he genuine depositors on proper identification and on submitting their proof of deposits. He has also requested that for that a suitable direction be also issued that the amount shall be disbursed to the respective depositors under the supervision of the Former Judge of this Court. 3. Having heard Shri Tushar Mehta, learned Solicitor General appearing on behalf of the Union of India and taking ....

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....ut of the total amount of Rs. 24,979.67 Crores lying in the "Sahara-SEBI Refund Account", Rs. 5000 Crores be transferred to the Central Registrar of Cooperative Societies, who, in turn, shall disburse the same against the legitimate dues of the depositors of the Sahara Group of Cooperative Societies, which shall be paid to the genuine depositors in the most transparent manner and on proper identif....