CRCS-Sahara Refund portal 2023: sahara india pariwar, How to file claims, who will benefit, check direct link and more

sahara india pariwar:CRCS-Sahara Refund portal 2023 launch today live by Home Minister Amit Shah, How to file claims, who will benefit, check direct link and more

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Sahara India Parivar CRCS Basic Information

NameSahara India Parivar
Founded On1978 (Gorakhpur, India)
FounderSubrata Roy
HeadquartersLucknow, Uttar Pradesh, India
Area servedWorldwide
Key peopleSubrata Roy (Chairman)
OwnerSubrata Roy (100%)
Number of employees12 lakh (includes salaried employees, consultants, field workers, agents & business associates)

Amit Shah, the minister of cooperation, on Tuesday unveiled the “CRCS-Sahara Refund Portal,” which aims to repay the deposits of thousands of people in four cooperative societies owned by the Sahara Group in around 45 days. He called it a historic occasion and said it was the first time depositors had received reimbursements in a case involving various governmental entities, each of which had carried out a seizure.

Shah gave the depositors the assurance that their money could not be stopped at this time and that they would receive a return 45 days after enrolling on the platform.

The government had stated on March 29 that the 10 crore investors in the four cooperative societies will receive their money back in 9 months. The declaration came after the Supreme Court ordered that the Central Registrar of Cooperative Societies (CRCS) receive the transfer of Rs 5,000 crore from the Sahara-Sebi reimbursement account.

He stated that initially, depositors would receive up to Rs 10,000 in refunds, and later on, the amount would increase for individuals who had made larger investments.

In the first phase, he added, the Rs 5,000 crore corpus will be sufficient to meet the demands of 1.7 crore depositors.
Approximately 2.5 crore individuals hold deposits in the four cooperative societies Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd, totaling up to Rs 30,000.

According to Shah, “Once the Rs 5,000 crore is used up, we will approach the Supreme Court and request that they release more money so that the total refund of other depositors with higher amounts is processed.”

The site was created by an IFCI subsidiary to allow the depositors of these cooperative societies to submit valid claims.

Aadhaar registration through mobile and Aadhaar connection with the bank account where the refund is to be transferred are the two essential prerequisites, according to Shah.

He stated that the Common Services Center will advise and direct depositors in this endeavor when they register online for refunds.

The ministry had submitted a request to the Supreme Court in an effort to settle the complaints of the members/depositors.

The Supreme Court ordered in March that Rs 5,000 crore be transferred from the “Sahara-Sebi Refund Account” to CRCS for distribution against the depositors’ rightful obligations.

CRCS-Sahara Refund portal 2023:sahara india pariwar:How do claims work?

According to Shah, the money would be deposited into the claimants’ bank accounts within 45 days. Within 30 days of investors submitting their applications, the Sahara Group Committee will review the information. Investors will be notified through SMS or internet within the following 15 days, or within 45 days after application.

Sahara Refund portal FAQ

What is Sahara Refund Portal?

The Sahara Refund Portal was introduced on July 18, 2023, by CRCS.

Sahara India plans to repay the money.

Yes, qualifying customers may now request for their refunds online through the Sahara Refund Portal when it launches.

How much is the Sahara refund?

In a ten-year period, SEBI has refunded Rs 138 crore to investors in two Sahara businesses. The payback amount has now risen to above Rs 24000 crore.