Govt to launch portal for claim submissions by depositors of Sahara Group co-op societies

On March 29, the government said that money will be returned to 10 crore investors of four cooperative societies of Sahara Group within 9 months.

Cooperation Minister Amit Shah on Tuesday will launch 'the CRCS-Sahara Refund Portal' for the submission of legitimate claims by genuine depositors of four cooperative societies of the Sahara Group.

On March 29, the government said that money will be returned to 10 crore investors of four cooperative societies of Sahara Group within 9 months. The announcement followed a Supreme Court order directing the transfer of Rs 5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).

In a statement, the cooperation ministry said Shah will launch the 'CRCS-Sahara Refund Portal’ in the national capital on Tuesday. "A portal has been developed for submission of legitimate claims by the genuine depositors of the Sahara Group of cooperative societies namely — Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd,” the ministry said.

To address the grievances of genuine members/ depositors of the Sahara Group’s cooperative societies, the ministry filed an application in the Supreme Court. In March, the Supreme Court had directed that Rs 5,000 crore be transferred out of the 'Sahara-Sebi Refund Account’, to the CRCS for disbursement against the legitimate dues of the genuine depositors of the Sahara Group’s cooperative societies.