The Office of the Central Registrar of Cooperative Societies (CRCS) has directed Sahara Credit Cooperative Society Ltd., Lucknow, to comply with an order of the Gauhati High Court and expedite the refund process in a long-pending depositor’s case.
The direction was issued in connection with a petition filed by Priyanka Prasad before the Gauhati High Court regarding the non-payment of deposits made by her father in Sahara Credit Cooperative Society.
According to the court records, the petitioner’s father had invested in 10 bonds in 2012 in the petitioner’s name. The total maturity value of the investment was Rs 1,30,600, and the deposits matured on January 4, 2020. However, the amount remained unpaid despite repeated approaches to the society.
In its communication dated May 18, 2026, the CRCS referred to the Supreme Court’s landmark order of March 29, 2023, which directed that Rs 5,000 crore from the Sahara-SEBI Refund Account be transferred to the Central Registrar for disbursing legitimate dues to depositors of four Sahara group cooperative societies.
The Gauhati High Court had earlier directed the petitioner to file an online claim through the CRCS-Sahara Refund Portal. The CRCS informed the court that the petitioner had already submitted her claim through the portal and that the application had been pending with Sahara Credit Cooperative Society since January 17, 2026.
Taking note of the delay, the Central Registrar directed the society to comply with the High Court’s order and inform both the petitioner and the CRCS about the action taken.
The case highlights the continuing challenges faced by Sahara cooperative society depositors despite the establishment of the CRCS-Sahara Refund Portal to facilitate a transparent and paperless refund process.
