The Ministry of Cooperation has been proactive in strengthening the cooperative movement in the nation and defending the interests of agreeable individuals. In order to address the concerns of genuine Sahara Group of Cooperative Societies members and depositors, the Ministry submitted an application to the Hon’ble Supreme Court of India. Accordingly, the High Court, through its structure dated Walk 29, 2023, coordinated the exchange of ₹5000 Crores from the “Sahara-SEBI Discount Record” to the CRCS for straightforward payment to authentic contributors.
Sahara Refund Process
The Sahara Credit Cooperative Society Ltd., Saharayan Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd. all have the CRCS Sahara Refund Portal, which makes it easier for genuine depositors to submit legitimate claims. Since the entire procedure is carried out digitally, the portal guarantees user friendliness, effectiveness, and transparency. The portal can be accessed through the Ministry of Cooperation’s website at https://cooperation.gov.in.
Read More:-
Documents Required for the Application
Investors are required to submit the following documents in order to complete the application:
- PAN Card: The Income Tax Department issues a PAN card, a ten-digit alphanumeric identification number. It is one of the compulsory reports expected for the discount interaction.
- Aadhar Card: The Unique Identification Authority of India (UIDAI) issues the Aadhar Card, which is a 12-digit unique identity number. It serves as identity and address verification.
- Depositor Slip: A document investors receive when depositing is the depositor slip.
- Passbook: Passbooks are given to account holders by banks. They provide specifics about the financial transactions made by the account holder.
Steps to Apply the Sahara Refund Form Online
The following is a step-by-step guide for online completion of the Sahara refund form:
- Open the India Government Website: The first thing you need to do is go to the official India Government Website.
- Go to the dashboard and click the “refund” button once you’re on the website.
- Complete the application: An application form will appear after you click the “refund” button.
- Present the finished application structure: Subsequent to finishing up the structure, click on the ‘submit’ button to present the structure.
- Upload the necessary documents: After completing the form, you will be prompted to upload the necessary documents, such as the closed policy subdocuments and bank diary.
- Final submission: To finish the process, click the “submit” button after uploading the documents.
Read More:-
Registration Process on the Sahara Refund Portal
A portal to deposit the refunded funds into the accounts of those who were defrauded by the Sahara Company has been established by the Indian government. Investors must complete an online application form on the official website to begin the refund process.
Eligible for CRCS Sahara Refund Portal
The genuine and legitimate Depositors of following four Sahara Social orders are qualified for discount through the CRCS Sahara Discount Entry: a. b. Sahara Credit Cooperative Society Limited Bhopal-based Saharayan Universal Multipurpose Society Limited Hyderabad, Stars Multipurpose Cooperative Society Limited.
Checking Refund Status
If depositors are approved for refunds, they will be notified via SMS. They can likewise sign in to the entryway to follow the refunding process, which normally requires as long as 45 days. A financial fraud under Sahara India Pariwar, a conglomerate that broke securities laws, was the focus of the Sahara Fraud case. The Sahara Claims Refund System (CRCS) was established after Sahara was ordered by the Supreme Court to return the funds it had collected to investors.
Read More:-
Documents to Claim for CRCS Sahara Refund
- Depositors must submit: The following documents for the CRCS Sahara Refund Portal to process a refund request
- Certificate of Deposit or Passport: Evidence of investment in the particular cooperative society of the Sahara Group.
- Guarantee Solicitation Structure: A precisely finished up web-based application structure on the CRCS Sahara Discount Entrance.
- PAN Card: Required for compliance and verification on refunds of more than 50,000 rupees.
Final Words
The Sahara India Pariwar, a well-known Indian conglomerate, has had legal and regulatory issues with returning investors’ money from its various financial schemes and ventures. Investors must register on the CRCS Sahara Refund Portal and submit specific documents in order to receive the refund.