Supreme Court Dismisses Sahara's SEBI Refund Plea

Supreme Court dismisses Sahara India Real Estate Corporation Ltd's plea against SEBI's refund order for Rs 24,000 crore raised from investors.
The court upholds SEBI's 2011 order directing Sahara to refund money collected through optionally fully convertible debentures.
Sahara's contention that it had already refunded most investors directly was rejected, with the court noting SEBI's verification found only Rs 138 crore refunded.
The judgment reinforces SEBI's regulatory authority over collective investment schemes and protects investor interests in such arrangements.