Union Home and Cooperation Minister Amit Shah is set to launch the ‘Sahara Refund Portal’ on Tuesday, providing a platform for depositors of four cooperative societies belonging to the Sahara Group to submit legitimate claims. These depositors have faced a prolonged struggle in retrieving their funds. The cooperative societies involved are Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd, as stated by the Union Cooperation Ministry.
The introduction of the portal follows the central government’s recent commitment to return the funds of ten crore investors within a span of nine months. This initiative comes as a response to a Supreme Court order directing the transfer of ₹5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS). Amit Shah expressed his anticipation for the launch, highlighting the significance of the occasion for those whose money has remained entangled in Sahara’s cooperative societies for an extended period.
He took to Twitter, stating, “Tomorrow is a special day for those whose money was stuck in Sahara’s cooperative societies for many years. The Modi government is moving towards fulfilling the resolution of returning the deposits of those investors, under which the ‘Sahara Refund Portal’ will be launched tomorrow. The commitment of the Ministry of Cooperatives under the leadership of Prime Minister Modi will bring relief to all those people who are waiting to get back their hard-earned money.” The establishment of the Sahara Refund Portal aims to streamline the claims process for the affected depositors. By providing a user-friendly platform, it enables them to submit their legitimate claims easily and efficiently. This portal signifies a significant step in the government’s efforts to resolve the longstanding issue of trapped funds and deliver justice to the depositors.
The launch of the portal aligns with the Modi government’s commitment to prioritizing the welfare of citizens and upholding their financial rights. The Ministry of Cooperatives, under the leadership of Prime Minister Modi, remains dedicated to ensuring the return of hard-earned money to those who have patiently awaited its recovery. As the ‘Sahara Refund Portal’ goes live, depositors of the aforementioned cooperative societies can now access a streamlined process to submit their legitimate claims for the return of their funds. This development brings renewed hope and relief to countless individuals eagerly awaiting the recovery of their investments, as the government takes proactive measures to address their concerns.