After fighting a long-tussle with the Securities and Exchange Board of India (Sebi), the Sahara Group finally said it would submit new title deeds for properties worth Rs 20,000 crore.

The new offer came after the Supreme Court of India last week restricted the group from selling any of their assets and restrained Sahara chief Subrata Roy and three other top directors from leaving the country.

While conflicting with Sebi’s view that the assets offered earlier as security for Rs 20,000 crore were overvalued, the group declared it would submit title deeds relating to other properties of Sahara combining Rs 20,000 crore, instead of debating any further on the issue raised.

The group has submitted Rs 5,120 crore so far to Sebi, while earlier it had claimed to have refunded more than Rs 20,000 crore directly to the investors through field officers.

The top court has asked the group to hand over title deeds of properties worth Rs 20,000 crore to the market regulator, which was last year tasked with the job of refunding over Rs 24,000 crore to investors from whom two Sahara arms had raised money through issue of certain debentures.

The group had submitted papers for two plots of land, a 106-acre land in Versova, a western suburb of Mumbai, which it estimated at Rs 19,000 crore, and a 200-acre land in Vasai, which it estimated to be worth about Rs 1,000 crore.

The case related to Sahara Housing Investment and Sahara India Real Estate raising more than Rs 24,000 from an estimated three crore investors through issuance of certain bonds between 2008-2009.

The group has been making genuine efforts over the last few months to obey the order of the apex Court relating to the ongoing lawsuit with the Sebi and assured its depositors and business associates that it will successfully overcome these challenges very soon.