Amit Shah to launch portal for refunding money of Sahara depositors on Tuesday

In a good news for the depositors of Sahara Cooperative Society, Union Home Minister Amit Shah said on Monday that the government is moving towards fulfilling the resolution of returning the deposits of those investors and it will launch the Sahara refund portal on Tuesday.

In a tweet in Hindi, Shah, who is also the Cooperation Minister, said, "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," Shah added.

Accordingly, Shah will launch the Central Registrar of Cooperative Societies (CRCS) Sahara Refund Portal on Tuesday.

The CRCS portal has been developed for submission of legitimate claims by the genuine depositors of four cooperative societies namely -- Sahara Credit Cooperative Society Ltd., Saharayn Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd.

On March 29, the government had said that money will be returned to 10 crore investors of four cooperative societies of Sahara Group within nine months.

The announcement followed a Supreme Court order directing transfer of Rs 5,000 crore from Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).