The Sahara Refund Portal was established for this purpose on Tuesday by Cooperative Minister Amit Shah. Investors can now get the money that has been trapped in the Sahara Group for years by using this portal.

Good news has arrived today for the investors that funded the corporate committees of the Sahara Group, according to the Sahara Refund Portal. In order to make the money that has been frozen for years available to investors, Cooperative Minister Amit Shah on Tuesday unveiled the portal (CRCS-Sahara Refund Portal) for the depositors of cooperative societies of the Sahara Group. “The process of returning those whose money was lying in Sahara’s cooperative societies for many years has started,” Shah stated at the opening.

 

In order to process legitimate claims from real depositors of four co-operative societies owned by the Sahara group, Amit Shah launched the “CRCS- Sahara Refund Portal.” Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited are the names of these cooperative societies.

Free Coins on Top of Yellow and White Bank Note Stock Photo

 

Four crore Sahara shareholders would receive a return of Rs. 5000 crore following the introduction of this platform. Justice Rtd R Subhas Reddy will serve as the refund process’s chairperson. The investors in Sahara will receive a refund in the sum of 5000 crores. Investors must enter their information on the website www.cooperation.gov.in and link their Aadhaar and bank accounts using the same cellphone number. The money will be returned in 45 days, as is known.

 

This is a test project; if it is successful, the government will ask the Supreme Court to grant a complete refund of the entire amount of money. For each society, four policemen have been designated for special duty to aid in the reimbursement process. CSCs have been set up and will assist anyone who are unable to get online and fill out the portal with their information.

The government had stated that it would repay the funds.

On March 29 of this year, the government said that it will refund the funds to the four co-operative societies of the Sahara group’s 10 crore investors in nine months. Following the Supreme Court’s directive to move Rs 5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS), the notification was made. According to the Ministry of Cooperation, the purpose of the creation of this unique platform is to make the process of making claims on behalf of Sahara Group investors easier. This portal will be used to submit legitimate claims on behalf of actual depositors of cooperative societies affiliated with the Sahara Group.

 

In order to offer assistance to the investors who were depositing money with these cooperative societies of the Sahara Group, the Ministry of Cooperation had filed a petition with the Supreme Court. The transfer of Rs 5,000 crore to CRCS to settle their claims was then mandated by the Supreme Court.

 

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