Union Home Minister and Minister of Cooperation, Amit Shah, revealed the “CRCS-Sahara Refund Portal” on Tuesday. The portal has been created to refund the deposits of thousands of individuals made in four cooperative societies owned by the Sahara Group. Shah assured depositors that their money would be returned within 45 days after registering on the portal, emphasizing that no obstacles would prevent the repayment.
In a March 29, 2023 order, on the orders of the Supreme Court, a transfer of Rs. 5000 Crores was made from the “Sahara-SEBI Refund Account” to the Central Registrar of Cooperative Societies (CRCS). This transfer aims to disburse the legitimate dues of genuine depositors associated with the Sahara Group of Cooperative Societies. The Ministry of Cooperation has issued important FAQs regarding the CRCS-Sahara Refund Portal.
What are the eligibility criteria for filing a claim on the CRCS Sahara Refund Portal?
Depositors must have made credits and have outstanding payments receivable before specific dates, depending on the society:
| S. No. | Society | Dates |
| 1 | Humara India Credit Cooperative Society Limited, Kolkata; Sahara Credit Cooperative Society Limited, Lucknow; and Saharayan Universal Multipurpose Society Limited, Bhopal. | March 22, 2022 |
| 2 | Stars Multipurpose Cooperative Society Limited, Hyderabad. | March 29, 2023 |
FAQs:
Who is eligible for a refund through the CRCS Sahara Refund Portal?
Genuine and legitimate depositors of the following four Sahara Societies are eligible for a refund:
a. Humara 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 information is required to initiate the refund process and file a claim?
To register on the portal, depositors need to provide an Aadhaar-linked mobile number and an Aadhaar-linked bank account. Other necessary documents include deposit numbers, investment details, and PAN (for claims exceeding Rs. 50,000). Depositors can log in to the refund website, submit their claims, upload supporting documents, and provide proof of the invested amount.
Are there any charges for filing the Claim form?
No, filing the Claim form is free of cost.
What is the link to the portal?
The website link is: https://mocrefund.crcs.gov.in/Help
What details does a Depositor need to provide with the Claim Request form/Application?
Depositors should provide the following details:
a. Membership number
b. Deposit Account number
c. Aadhaar-linked Mobile number (mandatory)
d. Deposit certificates/Passbook
e. PAN card (mandatory for claim amounts of Rs. 50,000 and above)
When will Sahara investors receive their refunds?
Shah stated that the money will be credited to the claimants’ bank accounts within 45 days. Once the application is submitted, the Sahara Group committee will verify the details within 30 days. Subsequently, investors will receive notifications via SMS or the website within the next 15 days or within 45 days of application submission. The refund will be directly credited to the Depositor’s Aadhaar-seeded bank account after 45 days from the successful claim submission.
Can a Depositor file a claim request without an Aadhaar-seeded bank account?
No, a Depositor cannot file a claim without an Aadhaar-seeded bank account. Aadhaar seeding ensures secure fund transfers to the genuine Depositor’s bank account.
How to register for Sahara Refund:
To register a claim, individuals need an Aadhaar-linked mobile number and an Aadhaar-linked account number. Here are the steps:
Step 1: Visit the refund portal at https://mocrefund.crcs.gov.in/Help.
Step 2: Click on “Registration” on the home page.
Step 3: Enter the Aadhaar-linked mobile number and account number, then click on “Generate OTP.”
Step 4: Enter the received OTP and verify it.
Once the OTP is verified, the application will be successfully registered.
