How can Sahara refund 20,000 crores to 'ghost' depositors?

Later today, the Securities and Exchange Board of India (SEBI) has asked Sahara chief Subroto Roy to appear before it. SEBI is acting on a Supreme Court order, which ruled as illegal a Sahara investment scheme, and ordered it to repay Rs. 25,000 crore to SEBI. Sahara claims they have already repaid Rs. 20,000 crore to its investors in far flung corners of the country, and so SEBI has no business summoning their chief. But an investigation by NDTV has raised serious questions on whether Sahara has repaid its investors - and if the investors are even genuine?