The Supreme Court of India on Friday asked Sahara India to name the source of Rs 18,000 crores, to which Sahara claims to have refunded to the investors.
The apex court doubted the claimed source and stated that it is very difficult to digest that such big amount has been refunded in such a short span of time. Defending its claim, Sahara India’s lawyer Kapil Sibal said that the company received Rs. 310 crores as advance for a deal of the Grosvenor house hotel.
The Supreme Court currently refused to pass any order on the application to deposit the additional amount.
The court told Sahara that the case will be shut down if you show the source of refund money to the court.
Earlier, Sahara has returned a total amount of Rs 18,000 crores to its investors.
Next hearing in the case is scheduled on September 16, in which the company has been asked to disclose the amount before the SC.
Sahara India chief Subrata Roy has been carged in the money fraud case where he has to return Rs 20,000 crores to investors, of which he paid Rs 17,600 crores with 15 per cent interest.