The Central Government has informed Parliament that 115 Multi-State Cooperative Societies (MSCS) are currently under liquidation, while highlighting the progress made in refunding depositors of the Sahara Group of Cooperative Societies.
Replying to a Question in the Lok Sabha, Union Minister of State for Corporate Affairs Harsh Malhotra said that under Section 90 of the Multi-State Cooperative Societies Act, 2002, Liquidators are empowered to refund depositors only after realization of the society’s assets, settlement of liabilities and distribution of the remaining assets among eligible stakeholders.
The Ministry of Cooperation informed the House that, following the Supreme Court’s order dated March 29, 2023, Rs 10,000 crore was transferred from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies for disbursement through the CRCS-Sahara Refund Portal.
As of July 28, 2026, nearly Rs 9,265 crore has been refunded to around 41.5 lakh genuine depositors of four Sahara cooperative societies.
The Government also clarified that no proposal is under consideration to establish Fast-Track or Special Courts for speedy disposal of cases involving cooperative depositors’ claims.
