Sahara has numerous times in the past has said that they have already returned the money to 93% of its investors. Hence to provide amount to SEBI the New Money is required.
So if we go for Bank Guarantee now, it will mean putting 100% cash margin. Therefore the order implies that Rs.10,000 crores cash is wanted to secure release from jail, if the release is desired before 3 months.
The founder Chairman is in custody for since last 22 days, and an embargo has been imposed on sale of asset and bank accounts of entire Sahara Group are already frozen by SEBI.
As custodian one has to follow certain basic golden rules very strictly in the interest of investors and by following these strict rules and principals we have been able to gain unprecedented confidence amongst our investors.
Sahara is highly apprehensive about the interest of its esteemed investors and its employees/workers and other stake holders.