Amit Shah launches the ‘CRCS- Sahara Refund Portal’, in New Delhi | Photo Credit: -

Amit Shah, Union Home Minister and Minister of Cooperation, has recently unveiled a portal where depositors of the Sahara Group of Cooperative Societies can claim their refund in 45 days. The move comes following a Supreme Court order, on March 29, which stated that ₹5,000 crore should be transferred from the “Sahara-SEBI Refund Account” to CRCS to depositors invested in the Sahara Cooperative Societies. The portal was launched in New Delhi. The government assured depositors of the refund of the money that got stuck in the Sahara scam.

Eligibility

Amit Shah said that, the first payment of up to ₹10,000 will be made to one crore investors who had deposited ₹10,000 or more. Post the ₹5,000 crore payment, another appeal will be made to return the same to other depositors in Sahara Cooperative Societies.

Depositors of Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, and Hamara India Credit Cooperative Society Limited, before March 22, 2022, are eligible for the refund.

In addition, the depositors of Stars Multipurpose Cooperative Society Limited, before March 29, 2023, are also eligible.

Only claims filed online through the portal will be entertained, states the online portal. There is no fee for submitting claims.

Documents needed

Here’s a list of documents needed to initiate the claim:

How to claim refund

Amit Shah also assured that 1.78 crore small investors, whose money is up to ₹30,000 will get a refund of their hard-earned money.

Published on July 20, 2023