- By Vaamanaa Sethi
- Tue, 18 Jul 2023 03:03 PM (IST)
- Source:JND
The Union Government has rolled out CRCS Sahara Refund portal today, which will help more than 10 crore depositors of Sahara Group claim their money back. The online portal was launched by Union Home Minister and Minister of Cooperation Amit Shah in Delhi.
“The process of returning the money of depositors, which was stuck in four cooperative societies of Sahara Group, has started with the launch of Sahara Refund Portal,” Union Minister Amit Shah said while launching the refund portal.
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In an earlier statement, the Ministry of Cooperation said, “ To address the grievances of genuine members/depositors of Sahara Group of Cooperative Societies for payment of their legitimate deposits, the Ministry of Cooperation had filed an application in the Hon’ble Supreme Court of India. The Hon’ble Supreme Court vide its order dated 29th March, 2023 had directed that Rs. 5000 Crores be transferred out of the ‘Sahara-SEBI Refund Account’, to the Central Registrar of Cooperative Societies (CRCS) for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies.”
The 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., Saharayn Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd. and Stars Multipurpose Cooperative Society, the ministry further added.
Refund amount
The portal will give an initial refund up to Rs 5,000 crore to the depositors. However, each depositor will be entitled to get a refund of only Rs 10,000 in the first phase on a trial basis, Amit Shah said.
The amount of refund will increase slowly if the trial succeeds. Shah further added that as many as 1 crore and 7 lakh investors can register on the refund portal. There are 4 crore depositors who are eligible to get up to Rs 10,000.
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Shah also said that once the trial succeeds, further decisions to address claims of depositors, who have more money stuck in the Sahara Group’s cooperative societies will be taken.
“Once the Rs 5,000 crore is utilised, we will approach the Supreme Court and request them to release more money so that the total refund of other depositors with higher amounts are processed,” Shah said.
How to claim your refund on the CRCS Sahara Refund Portal?
Shah, in the launch meeting, mentioned that depositors will need two important things — Aadhaar Card registration with mobile and Aadhaar-linking with the bank account where refund is to be deposited.
Depositors will also need to provide receipt details and download a form, fill it up with necessary details and re-upload it on the portal for processing your refund.
Shah also assured the depositors that they will get their respective refund into their bank accounts within 45 days.