Amit Shah transfers Rs 10,000 each to 112 Sahara investors in first tranche

New Delhi [India], August 4 (ANI): Union Home Minister and Minister of Cooperation, Amit Shah has launched the transfer of funds to the genuine depositors of Sahara Group of Cooperative Societies through the dedicated portal.

112 beneficiaries have received Rs 10000 each into their bank accounts today, soon all the investors will get their money back, read the Ministry of Cooperation press release

In his address, Amit Shah said that the PM Mod-led government is committed to protecting the rights of all. Ministry of Cooperation, he said, has achieved a big success in this direction today.

He added that all the agencies have done commendable work to get back the deposited money of depositors in record time.

At the time of the launch of the CRCS-Sahara Refund Portal on July 18, 2023, it was informed that the amount would be paid to the genuine depositors within 45 days of registering on the portal, but the committee constituted by the Supreme Court and all the government agencies, working together, have done commendable work in record time.  

Shah said that around 33 lakh investors have been registered on the CRCS-Sahara refund portal.

The portal has been developed for the submission of legitimate claims by the genuine depositors of the Sahara Group of 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.

It is pertinent to mention that to address the grievances of genuine members and depositors of the Sahara Group of Cooperative Societies for payment of their legitimate deposits, the Ministry of Cooperation had filed an application in the Supreme Court of India.

The Apex Court in its order dated March 29 this year had directed that Rs 5,000 crores be transferred out of the “Sahara-SEBI Refund Account” to the Central Registrar of Cooperative Societies (CRCS) for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies.