Roy was arrested in March 2014 for failing to attend a contempt of court hearing and has been on bail since 2016. "Saharas have made no efforts whatsoever to comply with the orders and directions," SEBI told the court. The regulator said that only a part of the principal amount had been deposited by Sahara and the balance with interest had ballooned to more than 626 billion rupees. In its defence, Sahara has previously told the court that it had refunded in cash most of the money it collected from investors and submitted relevant documents with the regulator, which was not verifying them. "How can there be claimants since Sahara has already paid back, long time back," the spokesman said.

Source: bd News24 November 19, 2020 10:52 UTC