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NEW DELHI: Union home minister and minister of cooperation Amit Shah on Tuesday launched ‘CRCS-Sahara Refund Portal’ in the national capital for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies.
The portal aims to faciliate the refund of hard earned money of crores of depositors in four cooperative societies of Sahara Group in about 45 days.
Terming this a historic moment, Shah said this is the first time when depositors are getting refunds in a case where multiple government agencies are involved and each one has done a seizure.
Shah assured the depositors that no one can stop their money now and that they will get the refund in 45 days after registering on the portal.
The portal has been developed for submission of legitimate claims by the genuine depositors of Sahara Credit Cooperative Society Ltd., Saharayan Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
Speaking at the event, Shah said the claims of 1.7 crore depositors will be settled through the portal in the first phase.
On March 29, the government had said money will be returned to 10 crore investors of the four cooperative societies within 9 months. The announcement followed a Supreme Court order directing transfer of Rs 5,000 crore from Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).
To begin with, he said, depositors would get up to Rs 10,000 refund and subsequently the amount would be enhanced for those who have invested higher amounts.
The corpus of Rs 5,000 crore would be able to take care of the needs of 1.7 crore depositors in the first phase, he said.
About 2.5 crore people have deposits of up to Rs 30,000 in the four cooperative societies namely Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
“Once the Rs 5,000 crore is utilised, we will approach the Supreme Court and request them to release more money so that the total refund of other depositors with higher amounts are processed,” Shah said.
The portal is developed by a subsidiary of IFCI, for submission of legitimate claims by the depositors of these cooperative societies.
In March, the Supreme Court had directed that Rs 5,000 crore be transferred out of the ‘Sahara-Sebi Refund Account’, to CRCS for disbursement against the legitimate dues of the depositors.
What’s the claim process
The depositers will first have to register themselves on the CRCS Sahara Refund Portal.
Shah said there are two important requirements for the claim process: Aadhaar registration with mobile and Aadhaar-linking with the bank account where refund is to be deposited.
The depositers will also have to provide the receipt details.
Shah said that depositors will have to download a form, fill it and re-upload it on the portal for further processing of the refund.
Depistors can also visit cooperation.gov.in and click on tabs – CRCS Sahara Refund Portal, CRCS Sahara Refund Video and CRCS Sahara Refund Tutorial for a step-by step guide to apply.
(With inputs from agencies)
The portal aims to faciliate the refund of hard earned money of crores of depositors in four cooperative societies of Sahara Group in about 45 days.
Terming this a historic moment, Shah said this is the first time when depositors are getting refunds in a case where multiple government agencies are involved and each one has done a seizure.
Shah assured the depositors that no one can stop their money now and that they will get the refund in 45 days after registering on the portal.
The portal has been developed for submission of legitimate claims by the genuine depositors of Sahara Credit Cooperative Society Ltd., Saharayan Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
Speaking at the event, Shah said the claims of 1.7 crore depositors will be settled through the portal in the first phase.
On March 29, the government had said money will be returned to 10 crore investors of the four cooperative societies within 9 months. The announcement followed a Supreme Court order directing transfer of Rs 5,000 crore from Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).
To begin with, he said, depositors would get up to Rs 10,000 refund and subsequently the amount would be enhanced for those who have invested higher amounts.
The corpus of Rs 5,000 crore would be able to take care of the needs of 1.7 crore depositors in the first phase, he said.
About 2.5 crore people have deposits of up to Rs 30,000 in the four cooperative societies namely Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
“Once the Rs 5,000 crore is utilised, we will approach the Supreme Court and request them to release more money so that the total refund of other depositors with higher amounts are processed,” Shah said.
The portal is developed by a subsidiary of IFCI, for submission of legitimate claims by the depositors of these cooperative societies.
In March, the Supreme Court had directed that Rs 5,000 crore be transferred out of the ‘Sahara-Sebi Refund Account’, to CRCS for disbursement against the legitimate dues of the depositors.
What’s the claim process
The depositers will first have to register themselves on the CRCS Sahara Refund Portal.
Shah said there are two important requirements for the claim process: Aadhaar registration with mobile and Aadhaar-linking with the bank account where refund is to be deposited.
The depositers will also have to provide the receipt details.
Shah said that depositors will have to download a form, fill it and re-upload it on the portal for further processing of the refund.
Depistors can also visit cooperation.gov.in and click on tabs – CRCS Sahara Refund Portal, CRCS Sahara Refund Video and CRCS Sahara Refund Tutorial for a step-by step guide to apply.
(With inputs from agencies)
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