In a significant development concerning the long-pending refunds to depositors of the Sahara Group’s cooperative societies, the Ministry of Cooperation has successfully disbursed over ₹5,139 crore to 27.33 lakh verified claimants as of 23 July 2025.
The Supreme Court, in its order dated 29 March 2023, directed the use of ₹5,000 crore from the ‘Sahara-SEBI Refund Account’ to refund genuine depositors.
The Supreme Court mandated that the disbursement process be transparent and monitored by former SC judge Justice R Subhash Reddy, with legal support from Shri Gaurav Agarwal (Amicus Curiae).
The Central Registrar of Cooperative Societies (CRCS) was tasked with managing the refund distribution through a fully digital, paperless process.
To streamline the claim process, the Ministry launched the CRCS-Sahara Refund Portal (https://mocrefund.crcs.gov.in) on 18 July 2023.
This allows depositors from four multi-state cooperative societies—Sahara Credit Cooperative Society Ltd (Lucknow), Saharayn Universal Multipurpose Society Ltd (Bhopal), Humara India Credit Cooperative Society Ltd (Kolkata), and Stars Multipurpose Cooperative Society Ltd (Hyderabad)—to submit refund claims online.
Depositors whose deposits matured but remained unpaid as of 31 March 2023 are eligible to apply.
Officials verify claims using Aadhaar-linked bank accounts and deposit proof.
They initially cap refunds at ₹50,000 per depositor, giving priority to small investors.
Authorities may raise the limit as funds and progress allow.
The Ministry has also introduced a Re-submission Portal (https://mocresubmit.crcs.gov.in), launched on 15 November 2023, to allow applicants to correct and resubmit deficient claims.
This approach ensures that technical or documentation errors do not exclude any genuine depositor.
Out of approximately 1.35 crore eligible depositors, over 27 lakh have already received verified refunds.
As of July 2025, ₹523.72 crore remains available for further disbursement.
The Supreme Court has further extended the deadline for disbursal up to 31 December 2025, allowing ample time for remaining depositors to file claims.
Union Minister of Cooperation Shri Amit Shah shared the update in a written reply in the Lok Sabha, reaffirming the government’s commitment to deliver justice to depositors through a fair, technology-driven approach.
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