Sahara Refund Portal: How to Claim Your Refund

The Sahara Refund Portal was launched by the Central Registrar of Cooperative Societies (CRCS) on July 18, 2023. The portal is designed to help eligible depositors of Sahara Group companies claim their refunds.

• The total number of depositors eligible for refunds through the portal is estimated to be around 3.3 crore.
• The total amount of money that will be refunded is estimated to be around Rs 5,000 crore.
• The refund portal will allow depositors to claim refunds of up to Rs 10,000 in the first phase.
• The refund portal will also allow depositors to choose how they want to receive their refunds. They can choose to have their refunds credited to their bank accounts, or they can choose to have them sent by cheque.

Sahara Refund Portal: How to Claim Your Refund

To claim your refund, you will need to create an account on the Sahara Refund Portal and provide the following information:

• Your Aadhaar number
• Your mobile number
• Your bank account details
• Your PAN number (optional)

Once you have created an account, you will be able to log in and view your refund status. If your refund is approved, it will be credited to your bank account within 45 days.

Here are the steps on how to claim your refund through the Sahara Refund Portal:

1. Visit the Sahara Refund Portal website at https://mocrefund.crcs.gov.in/.
2. Click on the “Create Account” button.
3. Enter your Aadhaar number, mobile number, and other required details.
4. Click on the “Submit” button.
5. Verify your email address by clicking on the link sent to your email address.
6. Log in to your account using your Aadhaar number and mobile number.
7. Click on the “Claim Refund” button.
8. Enter your PAN number (optional) and other required details.
9. Click on the “Submit” button.
10. Your refund status will be displayed on the screen.

Government Announcement

The launch of the Sahara Refund Portal was announced by the Union Home Minister and Minister of Cooperation, Amit Shah, on July 18, 2023. In his announcement, Shah said that the portal would help to ensure that eligible depositors of Sahara Group companies get their refunds in a timely manner.

Official Links

• Sahara Refund Portal website: https://mocrefund.crcs.gov.in/
• CRCS website: https://crcs.gov.in/
• SEBI website: https://www.sebi.gov.in/

Four Sahara societies

• The Sahara Refund Portal was launched following a Supreme Court order to refund the money to the depositors of the Sahara Group’s cooperative societies.
• The four Sahara societies that are covered by the refund portal are:
  • Sahara Credit Cooperative Society Limited
  • Saharayan Universal Multipurpose Society Limited
  • Humara India Credit Cooperative Society Limited
  • Stars Multipurpose Cooperative Society Limited

Sahara Group

Some of the key terms related to Sahara Group:

Here is some information about the history of Sahara Group:

• Sahara Group was founded in 1978 by Subrata Roy Sahara.
• The company started out as a small investment firm, but it quickly grew into a major conglomerate.
• Sahara Group’s business interests now span a variety of industries, including finance, real estate, media, and entertainment.
• Sahara Group is one of the largest conglomerates in India, with a net worth of over $10 billion.
• The company has been involved in a number of controversies, including allegations of financial fraud and money laundering.
• In 2012, Sahara Group was ordered by the Supreme Court of India to refund over Rs 24,000 crore to its investors.
• The company has been slowly repaying its investors, and it is expected to complete the refunds by 2023.

Here is some information about how the government recovered money from Sahara Group:

• The government of India froze Sahara Group’s assets in 2012.
• The government also appointed a receiver to manage Sahara Group’s assets.
• The receiver sold some of Sahara Group’s assets, and the proceeds were used to repay investors.
• The government also negotiated a settlement with Sahara Group, and the company agreed to repay the remaining investors in installments.

FAQ

Q: Who is eligible for the Sahara Refund Scheme?

A: The Sahara Refund Scheme is open to all depositors of Sahara Group companies who have invested money in the four Sahara societies that are covered by the scheme.

Q: How much money can I claim under the Sahara Refund Scheme?

A: In the first phase, you can claim a refund of up to Rs 10,000. If you have invested more than Rs 10,000, you will be able to claim the remaining amount in subsequent phases.

Q: How do I claim my refund under the Sahara Refund Scheme?

A: You can claim your refund by visiting the Sahara Refund Portal website and creating an account. Once you have created an account, you will be able to submit your refund claim.

Q: How long will it take to get my refund under the Sahara Refund Scheme?

A: The Sahara Refund Scheme is still in the early stages, so it is difficult to say how long it will take to process all of the refund claims. However, the government has said that it is committed to processing all of the claims as quickly as possible.

Q: What if I have any questions about the Sahara Refund Scheme?

A: If you have any questions about the Sahara Refund Scheme, you can visit the Sahara Refund Portal website or contact the Central Registrar of Cooperative Societies (CRCS).