Union Home Minister and Cooperation Minister, Shri Amit Shah, will launch the ‘CRCS-Sahara Refunds Portal’ in New Delhi on Tuesday. Under the leadership of Prime Minister Shri Narendra Modi and the guidance of Union Home Minister and Cooperation Minister Shri Amit Shah since its formation, the Ministry of Cooperation has undertaken a number of initiatives to strengthen the cooperative movement in the country and protect the interests of cooperative members.
It is pertinent to mention that in order to address the complaints of genuine members/depositors of Sahara Group of Cooperative Societies for the payment of their legitimate deposits, the Ministry of Cooperation had filed an application with the Honorable Supreme Court of India. The Hon’ble Supreme Court saw its order dated 29 March 2023 had ordered that Rs. 5000 Crores will be transferred from the “Sahara-SEBI Refund Account”, to the Central Registrar of Cooperative Societies (CRCS) for disbursement against the legitimate shares of the true depositors of the Sahara Group of Cooperative Societies.
A portal has been developed for legitimate applications to be submitted by 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. .
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