New Delhi: The Sahara Group made a fresh proposal to the Supreme Court on Tuesday in the investors' funds case. Sahara said it will repay the entire amount it owes to its investors in five instalments by March 31, 2015.
The company said it will pay Rs 2500 crore within three working days after the proposal is accepted by the court.
Sahara also prayed to the court that it should permit the companies to allow operation of their bank accounts.
According to Sebi, Sahara owes nearly Rs 24,000 crore to its investors. Sebi has said that this amount was raised in violation of rules and has asked Sahara to return it to the investors. Sahara, however, remained defiant and called the charges baseless.
The Supreme Court, however, upheld the Sebi's orders and directed Sahara chief Subrata Roy to make the payments as soon as possible. Roy was jailed when he failed to appear before the apex court despite repeated summons in the case.
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