Union Home Minister and Minister of Cooperation, Amit Shah, unveiled the "CRS-Sahara Refund Portal" on Tuesday, aimed at facilitating the repayment of accumulated funds to thousands of people in four cooperative societies owned by the Sahara Group.
Shah assured depositors that their money can no longer be
withheld, and upon registration on the portal, they will receive their refunds
within 45 days.
In an order dated March 29, 2023, the Supreme Court directed
the transfer of INR 5,000 crore from the "Sahara-SEBI Refund Account"
to the Central Registrar of Cooperative Societies (CRS) for the payment of
valid outstanding dues of the genuine depositors of Sahara Group's cooperative
societies.
Here is an overview of frequently asked questions about the
CRS-Sahara Refund Portal released by the Ministry of Cooperation:
Who is eligible for a
refund through the CRS-Sahara Refund Portal?
The following four Sahara societies' genuine and valid
depositors are eligible for a refund through the CRS-Sahara Refund Portal:
A. Our India Credit Cooperative Society Limited, Kolkata.
B. Sahara Credit Cooperative Society Limited, Lucknow.
C. Saharayan Universal Multipurpose Society Limited, Bhopal.
D. Stars Multipurpose Cooperative Society Limited,
Hyderabad.
What are the eligibility
criteria for filing a claim on the CRS-Sahara Refund Portal?
To file a claim request, depositors should have made
deposits before the following dates and should have an outstanding balance:
March 22, 2022:
A. Our India Credit Cooperative Society Limited, Kolkata.
B. Sahara Credit Cooperative Society Limited, Lucknow.
C. Saharayan Universal Multipurpose Society Limited, Bhopal.
For March 29, 2023:
D. Stars Multipurpose Cooperative Society Limited, Hyderabad
What is
required to claim and receive a refund through the refund process?
To register on the portal, you need to have a mobile number linked to
Aadhaar and a bank account linked to Aadhaar. You will also need other
documents, including your deposit number and details of your investment. If your
claim deposit exceeds INR 50,000, you will be required to submit your PAN card.
According to the website, using the assistance of the refund portal, you
can log in to this web portal and submit all your claims together. You can
upload relevant documents to support your claim and share proof of the invested
amount.
Is there
any fee for submitting a claim form?
No, it is free of charge.
What is
the link to the portal?
The website link is https://mocrefund.crcs.gov.in/Help.
What
details does the depositor need to provide with the claim application?
The depositor needs to provide the following details:
a. Membership number
b. Deposit account number
c. Mobile number linked to Aadhaar (mandatory)
d. Deposit certificate/passbook
e. PAN card (mandatory if the claim amount is INR 50,000 or more).
When will
Sahara investors receive their refunds?
Shah stated that the money will be credited to the depositors' bank
accounts within 45 days. Once the investors submit their applications, the
Sahara Group committee will verify the details within 30 days. Within the next
15 days or within 45 days of the application, the investors will be notified
via SMS or the website.
The refund amount claimed will be directly deposited into the bank
accounts linked to the investor's Aadhaar within 45 days from the date of
successful claim submission. This is an end-to-end online process.
Can a
depositor submit a claim request if they don't have a bank account linked to
Aadhaar?
No, without a bank account linked to Aadhaar, a depositor cannot file a
claim request. The facility of secure fund transfer to the bank account of the
genuine depositor is provided through Aadhaar seeding.
How to
register for Sahara refunds?
To file a claim, you need to have a mobile number linked to Aadhaar and
a bank account linked to Aadhaar.
Step 1: Go to the refund portal - https://mocrefund.crcs.gov.in/Help.
Step 2: Click on Registration on the home page.
Step 3: Enter the mobile number linked to Aadhaar and the account number
linked to Aadhaar. Click on Generate OTP.
Step 4: Enter the OTP and verify it.
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