Amit Shah, the Union Cooperation Minister, has launched the Sahara Refund Portal, which aims to provide relief to genuine depositors of Sahara Group’s cooperative societies. The portal facilitates the registration process and guarantees the refund of funds within 45 days, as directed by the Supreme Court.
Refund Portal Launched for Sahara Group Depositors
Union Cooperation Minister Amit Shah inaugurated a refund portal specifically designed for the depositors of four cooperative societies belonging to the Sahara Group. Shah reassured the “genuine depositors” that their money would be refunded to their bank accounts within 45 days. In March, the Supreme Court instructed the Center to transfer Rs 5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS) for the purpose of disbursing the depositors.
Amit Shah’s Announcement and Ministry’s Efforts
During the launch of the ‘CRCS-Sahara Refund Portal’ in Delhi, Amit Shah emphasized that the portal would assist 1.7 crore depositors in registering themselves. He reiterated that genuine depositors would receive their money back, and their claims would be settled promptly. Amit Shah expressed his gratitude to the Ministry of Cooperatives, under the leadership of Prime Minister Modi, for their commitment to returning the hard-earned money of investors stuck in Sahara’s cooperative societies.
The cooperation ministry issued a statement announcing the launch of the portal, which aims to address the grievances of genuine members and depositors of Sahara Group’s cooperative societies. The ministry mentioned that it had filed an application in the Supreme Court to advocate for the legitimate rights of the depositors. The Supreme Court had previously directed the transfer of Rs 5,000 crore from the ‘Sahara-Sebi Refund Account’ to the CRCS for the disbursement of funds owed to genuine depositors.
The launch of the Sahara Refund Portal by Amit Shah brings hope and relief to the depositors of Sahara Group’s cooperative societies. The portal streamlines the process for submitting legitimate claims and assures genuine depositors that their money will be returned within 45 days. This initiative reflects the government’s commitment to resolving the long-standing issue of trapped funds and providing financial relief to the affected individuals.
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