Sahara India Refund Portal Launched Apply online: The ‘CRCS-Sahara Refund Portal‘ was officially launched today, July 18, 2023, at 11:00 a.m. in New Delhi by Amit Shah, Union Home Minister and Minister of Cooperation. To strengthen the cooperative movement across the country and protect the interests of cooperative members, the Ministry of Cooperation has developed this site with the support of the Prime Minister, the Union Home Minister, and the Minister of Cooperation.
In order to reimburse legal investors in cooperative societies affiliated with the Sahara India Group, the Ministry of Cooperation has recruited Retired Judge R.K. Subhash Reddy to oversee the process. Millions of investors and their families will breathe a sigh of relief once this procedure gets underway since it will be carried out through a transparent method that guarantees justice.
What is the Sahara Refund Portal?
The proposal calls for the four cooperatives (Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd) to repay the tens of millions of depositors within nine months. In response to a March 29 Supreme Court judgment, the Central Registrar of Cooperative Societies (CRCS) was instructed to receive Rs 5,000 crore from the Sahara-Sebi reimbursement account.
Sahara Refund Cooperative Society Portal Group Issue & Login
Sahara Housing Corporation Limited and Sahara India Real Estate Corporation went public through initial public offers (IPOs) in 2009. However, a probe was launched when the Securities and Exchange Board of India (SEBI) claimed the organization had engaged in unlawful fundraising practices.
How will the Sahara Refund portal work?
Your Aadhaar number, phone number, and bank account will be linked through the CRCS-Sahara Refund Portal. Additionally, receipt information must be supplied. After you have done this, you can get a form from the portal, modify it as necessary, and then upload the revised version.
What will CRCS Sahara India Refund Portal do?
The CRCS-Sahara Refund Portal’s stated goal is to safeguard the interests of cooperative members. Depositors who put money into one of the Sahara Group’s cooperative societies (Sahara Credit Cooperative Society Ltd; Saharayan Universal Multipurpose Society Ltd; Humara India Credit Cooperative Society Ltd; Stars Multipurpose Society Ltd) will be able to use this portal to get their legitimate claims heard.
How much money will be refunded?
The refund facility would initially distribute up to Rs 5,000,000,000 to account holders. However, in the initial stage, just Rs 10,000 would be available to each depositor. Amit Shah has announced that, as a trial run, investors will receive a return of Rs 10,000. The trial’s success might lead to a gradual reimbursement increase.
According to Amit Shah, up to Rs 10,000 can initially be claimed by as much as 1 crore and 7 lakh investors who register on the refund platform. There are 4 billion depositors who might receive up to Rs 10,000 each. Amit Shah has stated that if this project is successful, then choices would be made to handle the demands of depositors who have additional money trapped in the cooperative societies affiliated with the Sahara Group. The whole reimbursement procedure will be handled digitally.
How long will it take to get a refund?
Mr Shah said the money would be paid into the claimant’s bank account within 45 days. In a misunderstanding, the Home Minister recommended accessing the CSC’s online services.
Supreme Court order regarding Sahara case
The Supreme Court of India issued an order on March 29, 2023, directing that Rs 5,000,000,000 be transferred from the ‘Sahara-SEBI Refund Account’ to the Central Registrar of Cooperative Societies (CRCS) to be applied to the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies. On March 29, the government promised 10 crore investors in the four Sahara Group cooperative societies that their money would be returned to them within 9 months. The statement followed the Supreme Court judgment cited above.
CRCS Sahara Refund Portal: How to apply
Register for the CRCS Sahara refund site by following these instructions.
Registration Process
- Visit cooperation.gov.in or mocrefund.crcs.gov.in to start the registration process.
- Click on the Sahara India Refund portal tab.
- Before moving further you must ensure that your mobile number is linked with aadhar card.
- You should now go to the online refund form and fill it out.
- You will shortly get an OTP; please enter the OTP to complete registration.
Refund Application
- Go to the login page and enter your details after registering.
- Please complete the form with your banking information and click submit.
- Then, complete the information on the receipt (including your PAN number if you sent more than Rs. 50,000).
- Verify once more that you have entered all the information correctly.
- Proceed to verification and submission after the last inspection.
- You may now save the document and print it off.
- Update your photo and signature on the form.
- Now scan the form.
- After scanning the form you have to upload it on the portal.
- Once the application is submitted, a registration number will be issued.
Sahara Refund Portal Launched FAQ
Unfortunately, you cannot file separate claim applications for each of the Sahara Group’s four cooperative societies.
The Sahara Refund portal may be accessed via the Ministry of Cooperation’s website, where refunds can be requested electronically. Enter the site, complete the online application, and upload your supporting paperwork. For claims to be processed, you will also need a bank account and a phone number connected to your Aadhaar.
The online form submission is free of charge. Only the Sahara Refund website is authorized for submitting refund claims.
There are no other stated criteria except the paperwork above and an active cellphone number and bank account connected to the individual’s Aadhaar. When filing a claim, double-check that you qualify and that all the information you provide is correct.
The platform would distribute Rs 5,000 crore to verified account holders in the first round. However, in the pilot phase, each investor will only earn Rs 10,000.
The initial return amount may be raised based on the initiative’s effectiveness. The government would explore further steps to handle depositors’ demands with larger sums of money locked in Sahara Group’s cooperative societies.
| Apply For REFUND | Click here |
| Registration | Click here |
| Login | Click here |
| Homepage | Click here |
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