SC orders Sahara Group to refund money to depositors
The Sahara Group seems to have taken the hit from the apex court. 
The Supreme Court has directed Sahara India Real Estate Corporation Ltd and the Sahara Housing Investment Corporation Ltd — to refund over Rs 24,400 crore collected from 2.21 crore depositors through an instrument known as optional fully convertible debentures.
The Bench has stated that companies should refund the amounts collected after issue of Red Herring Prospectus (RHPs) dated March 13, 2008 (Rs 17,400 crore) and October 16, 2009 (over Rs 7,000 crore) along with 15 per cent interest to the Securities and Exchange Board of India (SEBI) from the date of receipt of the subscription amount till the date of repayment.
The Bench directed the group to furnish the details, with supporting documents, to establish whether they had refunded any amount to persons who had subscribed through RHPs within 10 day. Sahara Group, however, has assured their depositors and investors.
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[...] and the balance in two installments by the bench headed by Chief Justice Altamas Kabir. The two Sahara Groups firms are Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation [...]
[...] SC orders Sahara Group to refund money to depositors [...]