Sahara Refund Portal: Sahara investors can claim Rs 5 lakh, 362.91 crores distributed so far, know the method of claim
There is good news for Sahara India investors. Now they can claim up to ₹5 lakh through the Sahara Refund Portal. The portal states, "We are currently accepting re-applications for claims up to ₹5,00,000. Application dates for total claims above ₹5,00,000 will be announced later. These claims will be processed within 45 working days." Investors can apply through the Sahara Refund Portal.
₹362.91 crore refund to 4.2 lakh investors
According to news agency PTI-Bhasha, Home and Cooperation Minister Amit Shah on Wednesday informed Parliament that more than ₹362.91 crore has been refunded to more than 4.2 lakh investors of the Sahara Group till July 16 this year. Shah told the Rajya Sabha in a written reply that this amount was refunded through the CRCS-Sahara Refund Portal.
Portal started after a Supreme Court order.
This portal was started after the Supreme Court's order of March 29, 2023, to help legitimate investors get their money back. The minister informed that ₹362.91 crore has been distributed to 4,20,417 investors of Sahara Group cooperatives till July 16, 2024. However, a large number of investors still have a considerable amount to be refunded.
₹86,673 crore still stuck
A total of ₹86,673 crore of 9.88 crore investors in the Sahara Group is still stuck. The Ministry of Cooperation had filed an application in the Supreme Court for payment and settlement of grievances of genuine members/depositors of the Sahara Group cooperatives. The Supreme Court directed to transfer ₹5,000 crore from the "Sahara-SEBI Refund Account" to the Central Registrar of Cooperative Societies (CRCS).
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