There is a relief news for the investors who invested in Sahara Group. Now the government will return Rs 50,000 instead of Rs 10,000. The government has increased the limit of money to Rs 50,000. In such a situation, those who had invested a lot of money in Sahara’s schemes will definitely get some relief.
There is a relief news for the investors who have invested money in Sahara Group. Now the government will return Rs 50,000 instead of Rs 10,000. The government has increased the limit of money to Rs 50,000. In such a situation, those who had invested more money in Sahara’s schemes will definitely get some relief. The government has increased the limit of the amount to be returned for small depositors of Sahara Group cooperative societies from Rs 10,000 to Rs 50,000. An official of the Ministry of Cooperation gave this information.
Now you will get Rs 50,000
The government has so far released Rs 370 crore to more than 4.29 lakh depositors of Sahara Group cooperative societies through CRCS (Central Registrar of Cooperative Societies)-Sahara Refund Portal. The official said that with the refund amount limit being increased to Rs 50,000, about Rs 1,000 crore will be paid in the next 10 days. He said that last week the limit of ‘refund’ amount for small investors was increased from Rs 10,000 to Rs 50,000.
Government is doing a thorough investigation
The government is carefully examining the claims of the depositors before issuing the ‘refund’. The CRCS-Sahara Refund Portal was introduced on July 18, 2023 to submit claims for refund of valid deposit amount of genuine depositors of four multi-state cooperative societies of the Sahara Group following the order of the Supreme Court. These Sahara societies are… Sahara Credit Cooperative Society Ltd., Lucknow, Saharayan Universal Multipurpose Society Ltd., Bhopal, Hamara India Credit Cooperative Society Ltd., Kolkata and Stars Multipurpose Cooperative Society Ltd., Hyderabad.
Court’s decision
Under the court’s order of March 29, 2023, an amount of Rs 5,000 crore was allotted to the Central Registrar of Cooperative Societies (CRCS) from the SEBI-Sahara refund account on May 19, 2023. Justice R Subhash Reddy, a judge of the apex court, is looking into the matter of distribution of money digitally.
