Sahara India Refund Process & Resubmission Portal

The Union Cooperative Minister said that many times allegations of scams are made and those who invest in them, their capital gets trapped, like the example of Sahara is in front of everyone. He said that the case went on in the Supreme Court for many years, agencies sealed their properties and accounts, and, When this happens, the credibility of cooperative societies ends. Shri Shah said that the Prime Minister Shri Narendra Modi constituted a separate Ministry of Cooperatives and after that taking initiative in this matter all the stakeholders were held together and discussed. He said that it was considered whether such a system could be created in which everyone would rise above their claims and think about the small investors. Shri Shah said that all the agencies together filed a petition in the Supreme Court and the Supreme Court gave a historic decision that the process of payment should be started in a transparent manner by forming a committee under the chairmanship of a former Supreme Court judge. He said that the process of returning the amount of Rs 5,000 crore to the investors is starting today in a transparent manner on a trial basis. He said that when 5,

The Union Home and Cooperation Minister said that through the portal launched today, the first investors whose deposits are Rs.10,000 or more will be paid up to Rs.10,000. He said that complete data of all the four committees is available online for applying on this portal. He said that all such provisions have been made in this process so that there is no scope for any kind of disturbance and injustice to any bona fide investor.

Shri Amit Shah said that those who have not invested cannot get refund from here in any way and nothing can stop those who have invested from getting refund. Union Cooperative Minister instructed that Common Service Center (CSC) should be arranged for filling the application. He requested all the investors to register themselves online through CSC. Mr. Shah said that there are two major conditions in this process – first, the Aadhaar card of the investor should be linked with his mobile, and, Aadhaar card should be linked with his bank account. He assured the investors that the money would be deposited in their bank accounts in 45 days.

The Union Cooperative Minister said that a big beginning has taken place today. He said that for the first time in the country, under the leadership of Prime Minister Shri Narendra Modi, investors are starting to get back their money trapped in scams with transparency, this is a big achievement. He said that today crores of people are starting to get back their hard-earned money. Shri Shah said that about 1.78 crore such small investors, whose money is stuck up to Rs 30000, will get their money back, this is a big achievement.

The Hon’ble Supreme Court in its order dated March 29, 2023 directed that Rs.5000 crore be transferred from the “Sahara-SEBI Refund Account” to the Central Registrar of Cooperative Societies (CRCS) for payment of legitimate dues to bona fide depositors of Sahara Group of Cooperative Societies. Monitoring and supervision of the entire process of payment is being done as per the directions of the Hon’ble Supreme Court, former Judge of the Hon’ble Supreme Court, Justice R.K. Subhash Reddy in which Mr. Gaurav Agarwal, Advocate (Amicus Curiae) has been appointed to assist him. Four senior officers have been appointed as Officers on Special Duty to assist in the refund process related to these four committees.

The entire process of payment is digital and paperless and the portal created for submission of claims is user friendly, efficient and transparent. Necessary provisions have been made in the portal to ensure that only genuine depositors are refunded the valid amount. The portal can be accessed through the website of the Ministry of Cooperation. The bona fide depositors of these societies will have to submit their claims by uploading the online application form available on the portal along with the necessary documents. The depositors will be verified through Aadhaar card to ensure their identity. Funds as per availability after verification by Societies, Auditors, and OSDs appointed for verification of their claims and uploaded documents, Depositors will be directly transferred to their Aadhaar linked bank account within 45 days of online claim submission and will be intimated to them through SMS/portal. The bona fide depositors of the societies must ensure that they have an Aadhaar-linked mobile number and bank account.

Note – To get Sahara refund, first of all it is necessary to have mobile number linked in Aadhaar at the time of application, before application check mobile number in Aadhaar, after that check whether Aadhaar seeding with account is done or not.

नोट- सहारा रिफंड प्राप्त करने के लिए आवेदन के समय सबसे पहले आधार में मोबाईल नंबर का लिंक होना अतिआवश्यक है, आवेदन से पहले आधार में मोबाईल नंबर की जाँच करलें इसके पश्चात खाता आधार सीडिंग है या नहीं इसकी जाँच करें।