Who controls Sahara now, and who is refunding the investors' money?

What happened to Sahara after Subrata Roy's passing? Who holds Sahara's assets, and who is returning the investors' trapped funds? Find out everything here.

There was a time when the name 'Sahara India' was a household name across the country. Millions of people in small towns and villages had invested their money in various Sahara schemes. They hoped to get their money back whenever the need arose.

However, Sahara's troubles mounted over time. The issue regarding investors' funds reached the courts, and the company's business gradually weakened. Even today, millions of people have money tied up with Sahara and want to know when they will get it back. There is also the question of who controls Sahara now following Subrata Roy's death and who is refunding the investors.

What happened to Sahara after Subrata Roy?

Sahara India founder Subrata Roy passed away in November 2023. After his demise, questions arose about Sahara's future. However, it is not the case that the entire Sahara entity passed into the hands of a single individual or company after his death.

Sahara's various companies and their assets are involved in different legal proceedings. In other words, as of now, it cannot be said that Sahara is under the control of any specific individual.

Did Adani buy the entire Sahara group?

In fact, a proposal emerged in 2025 regarding the sale of some of Sahara's major assets to Adani Properties. This involved approximately 88 properties.

These assets reportedly included major properties such as Aamby Valley in Maharashtra and Sahara City in Lucknow. Proposing the sale of certain assets is quite different from acquiring the entire Sahara Group. So, no—Adani has not bought Sahara.

Then, who is refunding the investors' money?

For those whose money is stuck with Sahara, the refund process is underway in accordance with government and court directives. Specifically, the government has launched the CRCS-Sahara Refund Portal for individuals who invested in four of Sahara's cooperative societies. Depositors can file claims for their money through this portal, and refunds are issued after their documents and records have been verified.

What is the CRCS-Sahara Refund Portal?

The government launched the CRCS-Sahara Refund Portal in July 2023. Its objective is to facilitate the return of funds to individuals who deposited money in four Sahara cooperative societies.

These four cooperative societies are:

Sahara Credit Cooperative Society Limited
Saharaayan Universal Multipurpose Society Limited
Hamara India Credit Cooperative Society Limited
Stars Multipurpose Cooperative Society Limited

Is Sahara itself returning the money?

The refund process does not involve the Sahara company directly withdrawing funds and returning them to the public. The funds and assets associated with Sahara are under the supervision of courts and government agencies; consequently, money is being returned to investors only after a thorough verification process. In other words, directives from the CRCS, SEBI, and the Supreme Court play a crucial role in facilitating the return of investors' money.

When will the money be received?

The refund process is currently ongoing, and not every investor can receive their full refund on the same date. First, the validity of the individual's claim is assessed—checking whether their documents are in order and if they meet the refund criteria. Payment is made only after these checks are completed.

Therefore, if your money is stuck with Sahara, you should seek information regarding the official refund process rather than relying solely on news circulating on social media.