India

Sahara Investors Get Big Relief As Govt Returns ₹5,139 Crore; Refunds To Continue Till 31 December 2025, Says Amit Shah

The Union Ministry of Cooperation has announced a major relief for lakhs of investors of the Sahara Group’s multi-state cooperative societies.

As of now, the government has, however, refunded ₹5,139.23 crore to about 27.33 lakh investors, said Home and Cooperation Minister Amit Shah in a written reply to Parliament.

The refund is being processed in line with the Supreme Court’s order dated 29 March 2023.

The court had, however, directed that ₹5,000 crore from the ₹24,979.67 crore deposited in the ‘Sahara-SEBI Refund Account’ be transferred to the Central Registrar of Cooperative Societies to begin repayment to genuine depositors.

Scheme Targets Investors of Four Sahara Group Cooperatives:

  • Sahara Credit Cooperative Society Ltd, Lucknow
  • Saharayn Universal Multipurpose Society Ltd, Bhopal
  • Humara India Credit Cooperative Society Ltd, Kolkata
  • Stars Multipurpose Cooperative Society Ltd, Hyderabad

The CRCS-Sahara Refund Portal (https://mocrefund.crcs.gov.in) has been launched for digital, paperless applications. Eligible investors are those whose deposits matured by 31 March 2023 and who have not received a refund yet.

The entire refund process is further being monitored by Justice R Subhash Reddy, retired judge of the Supreme Court. Advocate Gaurav Agarwal has been appointed as amicus curiae to assist.

Currently, each valid depositor is receiving up to ₹50,000 of their principal amount. The sum is, however, being transferred directly to Aadhaar-linked bank accounts. The government may raise this cap gradually to prioritise smaller investors.

For applications with errors, a ‘re-submission portal’ (https://mocresubmit.crcs.gov.in) has been launched to allow corrections.

According to the ministry, more than 1.35 crore investors have applied so far. Around 1.08 crore applicants are still awaiting payment. An amount of ₹523.72 crore remains to be disbursed.

The Supreme Court has set 31 December 2025 as the final deadline to complete the refund process for all Sahara investors.

Also Read: ‘Modi Normal’ Replaces ‘New Normal’ In India’s Terror Response Doctrine, Says Jaishankar In Rajya Sabha

Bharat Express English

Recent Posts

Bullet Discovery At Hyderabad Metro Sparks Police Investigation

A 9 mm bullet was found in a commuter’s bag at Hyderabad’s Moosapet Metro Station,…

1 hour ago

Neurosurgeon Reveals Everyday Habits That Gradually Harm Brain Health

Neurosurgeon Dr Richard Veyna warns that poor sleep, stress, inactivity, and sugary diets can harm…

3 hours ago

Amazon Diwali Sale: Last-Minute Smartphone Deals You Can Grab Before October 20

Amazon Diwali sale ends October 20; grab last-minute deals on Samsung, Apple, OnePlus, Realme, and…

3 hours ago

Government Extends GSTR-3B Filing Deadline By Five Days Owing To Festive Season

The government has extended the GSTR-3B filing deadline to 25 October 2025, giving taxpayers extra…

4 hours ago

Virat Kohli Returns To International Cricket; Claims Peak Fitness After Hiatus

Virat Kohli returns to international cricket for India’s ODI series in Australia, asserting peak fitness…

6 hours ago

Ibrahim Ali Khan Shares Festive Selfie With Brothers Taimur And Jeh; Calls Them ‘Teeno Bhai Teeno Tabahi’

Ibrahim Ali Khan celebrates Diwali with a festive selfie alongside his younger brothers Taimur and…

7 hours ago