Union Home Minister and Minister of Cooperation, Amit Shah launched the transfer of funds to the genuine depositors of Sahara Group of Cooperative Societies through CRCS-Sahara Refund Portal in New Delhi today on Friday.
Speaking on this occasion, Shah said the efforts have been made to help crores of investors of the country to refund their money stuck in the four co-operative societies of Sahara Group since last about 15 years. Shah said that around 33 lakh investors have been registered on the CRCS-Sahara refund portal.
Today, in the first phase, 112 depositors of Sahara Group’s cooperative societies were paid Rs 10,000 each through their Aadhaar linked bank accounts. Based on the analysis of the first stage, “SOP (Standard Operating Procedure)” is being prepared by the auditor with the help of Amicus curiae for verification of claims.
Shah said that the release of the next instalment of payment will take even less time as the audit process has been completed. Shah said that it is the responsibility of the country’s government and administration to secure the deposits of every citizen of the country and return their stuck deposits by using the rights under the constitution to enact law.
On the occasion, Union Minister of State for Cooperation, BL Verma, former Supreme Court Judge Shri R. Subhash Reddy, Secretary, Ministry of Cooperation Gyanesh Kumar, four Senior Officers on Special Duty (OSD) deputed to assist in the refund process and some depositors who received refunds were also present.
Shah said that all the agencies have done commendable work to get back the deposited money of depositors in record time, with this the depositors are getting back their money. At the time of launch of CRCS-Sahara Refund Portal on July 18, 2023, it was informed that the amount would be paid to the genuine depositors within 45 days of registering on the portal, but the committee constituted by the Supreme Court and all the agencies of the Government of India, working together, have done commendable work in record time.
The process of transfer of funds has started in less than a month, due to which Rs. 10,000 are being deposited to bank accounts of each of 112 beneficiaries. Shah said that this initiative of the Ministry of Cooperation has instilled satisfaction and confidence in the minds of crores of investors.
Union Home Minister and Minister of Cooperation said that today 112 investors with an amount of Rs 10,000 are being paid as the small investors have the first right on the amount to be refunded. But in the coming time, all the investors will get their money back for sure.
Shri Shah assured the investors of cooperative societies of Sahara Group that the Modi government is making constant efforts to get back every single Rupee of their hard earned money. Shri Amit Shah thanked the former Supreme Court Judge, Shri R. Subhash Reddy, Secretary, Ministry of Cooperation Shri Gyanesh Kumar, Special Secretary Shri Vijay Kumar and officials of the Ministry of Cooperation and all concerned agencies for initiating the process of transfer of funds in record time.
The depositors of Sahara Group expressed their gratitude for the efforts made by the Ministry of Cooperation, under the leadership of Prime Minister Shri Narendra Modi and guidance of Union Home Minister and Minister of Cooperation Shri Amit Shah to refund their money.
The whole process of disbursement is being supervised and monitored by Justice R. Subhash Reddy, Former Judge of Hon’ble Supreme Court with the assistance of Gaurav Agrawal, learned Advocate, Amicus Curiae as per directions of Hon’ble Supreme Court. Four senior Officers on Special Duty (OSDs) have been appointed for each of the above Societies for assisting in the refund process.
