112 Beneficiaries Get Rs 10K Each As Govt Launches Process
Sahara depositors can now apply on CRCS-Sahara Refund Portal for their claims and govt is committed to protect their interest, Amit Shah said.
NEW DELHI, Aug 5 (The CONNECT) – Around 33 lakh investors have been registered on the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal that was launched post the Supreme Court order on initiating the process of returning to depositors.
In all, 112 beneficiaries will get back Rs. 10,000 each, Shah said as the government initiated the process of refunds in less than a month. He said that the release of next instalment of payment will take even lesser time as the audit process have been completed. This initiative of the Ministry of Cooperation has instilled satisfaction and confidence in the minds of crores of investors.
The Supreme Court stipulated in its historic judgment that a committee headed by a former Supreme Court Judge will be formed and the process of refund to genuine depositors to be done in a transparent manner, Shah said.
Shah said that it is the responsibility of the country’s government and administration to secure the deposits of every citizen of the country and return their stuck deposits by using the rights under the constitution to enact law.
Shah assured the investors of cooperative societies of Sahara Group that the Modi government is making constant efforts to get back every single Rupee of their hard-earned money.
Shah thanked the former Supreme Court Judge R. Subhash Reddy, Secretary, Ministry of Cooperation Gyanesh Kumar, Special Secretary Vijay Kumar and officials of the Ministry of Cooperation and all concerned agencies for initiating the process of transfer of funds in record time.
Shah had launched the CRCS-Sahara Refund Portal on 18th July 2023. This portal has been developed for submission of claims by genuine depositors of Cooperative Societies of Sahara Group – Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited.
The Supreme Court vide its order dated March 29 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 whole process of disbursement is being supervised and monitored by Justice R. Subhash Reddy, Former Judge of the Supreme Court with the assistance of advocate Gaurav Agrawal, Amicus Curiae. Four senior Officers on Special Duty (OSDs) have been appointed for each of the above Societies for assisting in the refund process.
The online Portal developed for submission of claims is user friendly, efficient and transparent. The entire process is digital. Necessary checks and balances have been incorporated in the Portal to ensure that only the legitimate deposits of the genuine depositors are refunded. The portal can also be accessed through Ministry of Cooperation website. The genuine depositors of these Societies have to submit their claims by filling online application form available on the portal and upload requisite documents. The depositors will be verified through Aadhaar card to ensure their identity. After the verification of their claims and uploaded documents by the appointed Societies Auditors and OSDs, the payment to the genuine depositors will be credited in their Bank account within 45 days after filing their online claims, subject to availability of funds and they will be intimated the status through SMS/Portal. The genuine depositors of the Societies are requested to ensure that they have Aadhar linked mobile number and Bank Account along with requisite documents as proof of their claim and deposits.
