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.
The bail granted is subject to precondition of payment of Rs.10,000 crores. The Bank Guarantee of this size with lower margin cash backed by assets takes 3 months.
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.
