Sahara Group Depositors Receive Rs 2,314 cr Refund

New Delhi, Mar 11 (PTI) The government on Tuesday said Rs 2,314.20 crore has been released to 12,97,111 depositors of Sahara Group of Cooperative Societies as of February 28, 2025.

In a written reply to the Lok Sabha, Union Cooperation Minister Amit Shah said that in compliance with the Supreme Court's Order dated March 29, 2023, a 'CRCS-Sahara refund portal' was launched on July 18, 2023, for submission of claims by the genuine depositors of four Multi-State Cooperative Societies of Sahara Group for a refund of their legitimate deposits.

These four companies are Sahara Credit Cooperative Society Ltd, Lucknow;
Saharayn Universal Multipurpose Society Ltd, Bhopal; Humara India Credit Cooperative
Society Ltd, Kolkata; and Stars Multipurpose Cooperative Society Ltd, Hyderabad.

"An amount of Rs 2,314.20 crore has been released to 12,97,111 depositors of Sahara Group of Cooperative Societies as of February 28, 2025," Shah said.

He said the entire process of disbursement is digital and paperless and is being
carried out under the supervision and monitoring of Justice R Subhash Reddy, Former Judge of the Supreme Court with the assistance of Gaurav Agrawal, Amicus Curiae.

Applications received on the portal are being processed in a transparent manner, on proper identification and on submitting proof of their identity and deposits. Presently, payment of only up to Rs 50,000 is being disbursed to each genuine depositor of the Sahara Group of Cooperative Societies against verified claims through an Aadhaar-seeded Bank account.

The Supreme Court has granted the extension for the disbursement of refund to the Sahara depositors up to December 31, 2025, the minister informed.

Further, in case of any deficiency found in the application of the depositor on the portal, deficiencies are being conveyed to them for re-submission of their application through the resubmission portal already launched on November 15, 2023.