New Delhi, Apr 6 UNI | 4 months ago

In a new twist with wide ramifications for Sahara Group, the Supreme Court has said prima facie, a majority of investors in the company are non-existent.

A bench comprising Justices K S Radhakrishnan and J S Khehar for the first time said in the written order, ''all the fact finding authorities have opined that majority of investors do not exist.''

Sahara group had earlier claimed that there are four crore investors, who have invested their hard earned money in the two real estate companies of the group.

The group's chief Subrata Roy is in jail for not being able to refund Rs 20,000 crore to the investors.

All fact finding bodies including the market regulator SEBI have been saying that investors to whom the money is to be refunded do not exist at all.

(Posted on 06-04-2014)