‘Sahara refund': Good news for depositors of Sahara Group co-op societies. Govt to launch portal for claim submissions
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. On March 29, the government said that money will be returned to 10 crore investors of four cooperative societies of Sahara Group within 9 months.
The announcement followed a Supreme Court order directing the transfer of ₹5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS). To address the grievances of genuine members/ depositors of the Sahara Group's cooperative societies, the ministry filed an application in the Supreme Court.
In March, the Supreme Court had directed that ₹5,000 crore be transferred out of the 'Sahara-Sebi Refund Account', to the CRCS for disbursement against the legitimate dues of the genuine depositors of the Sahara Group's cooperative societies.
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