All problems to be resolved in 2020: Sahara chief Subrata Roy

Hopeful of all its problems getting resolved this year, embattled Sahara group's chief Subrata Roy has said two large foreign investors have been roped in for real estate and city development businesses and nearly ₹22,000 crore deposited with regulator Sebi will also eventually come back. Referring to a long-running dispute with capital market regulator Sebi over funds garnered by two group firms through issuance of certain bonds, Roy said the entire amount generated through sale or mortgage of assets or from joint ventures had to be deposited in a Sebi-Sahara account due to an embargo imposed by the Supreme Court. Sebi had ordered Sahara India Real Estate Corporation Ltd and Sahara Housing Investment Corporation Ltd in 2011 to refund the money raised from around three crore investors through Optionally Fully Convertible Bonds. Thakur also said Sebi had issued Talking about the refund process, Roy said in his letter to investors that nearly ₹22,000 crore was deposited in the Sebi-Sahara account till date, but Sebi could repay little over ₹100 crore to investors despite giving four rounds of "In the fourth As per the latest available figures, the pending refund applications with Sebi are estimated to involve maximum ₹20-25 crore, excluding interest component.