Amit Shah launches portal for Sahara Group depositors to claim money back

Union Home Minister Amit Shah has launched an online portal ‘CRCS- Sahara Refund Portal’ in New Delhi. The portal has been developed for the  submission of legitimate claims made by the genuine 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 had earlier filed an application in the top court in order to address the grievances of the Group’s depositors for the payment of their dues. This resulted in the Supreme Court order which ordered that 5,000 crore be transferred out of the ‘Sahara – SEBI Refund Account’ to the Central Registrar of Cooperative Societies for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies.

“Tomorrow is a special day for those whose money was stuck in Sahara’s cooperative societies for many years. The Modi government is moving towards fulfilling the resolution of returning the deposits of those investors, under which the ‘Sahara Refund Portal’ will be launched tomorrow. The commitment of the Ministry of Cooperatives under the leadership of Prime Minister Modi will bring relief to all those people who are waiting to get back their hard earned money,” Amit Shah said on Twitter.

The centre on March 29 had said that money will be returned to 10 crore investors in 9 months of the four cooperative societies of the Sahara Group. Investors will have to register on the Sahara Refund Portal and after verification of the documents, the amount will be deposited into their accounts.