In an order dated March 29, 2023, the Supreme Court of India directed the transfer of Rs. 5,000 crore from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies (CRCS). The body, in turn, was supposed to disburse the total amount against any legitimate request from the investors in the Sahara Group. On March 4, 2024, Amit Shah, the Union Home Minister, announced the CRCS-Sahara Refund Portal to refund the deposits.
In How Many Days Will Depositors Get Their Money Back?
The minister has assured that depositors will get their money back in 45 days from the date of registration on the portal. “To address the grievances of genuine members/depositors of Sahara Group of Cooperative Societies for payment of their legitimated deposits, an application was filed by the Ministry of Cooperation in the Hon’ble Supreme Court of India, on which the Hon’ble Supreme Court vide its order dates 29.03.2023,” mentions the official press release.
Members Of These Societies Can Apply
The four societies include Saharai Credit Cooperative Society Ltd, Saharayan Univeral Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd. Those who deposited their money in these schemes can log in through the refund portal, submit their claim by filling an online application (with the required documents), and receive their money back in 45 days. “Depositors are requested to submit all the claims pertaining to all fur societies in the same claim application form.”
What Documents Are Required To Register?
The depositors must have outstanding dues from Stars Multipurpose Cooperative Society Limited, Hyderabad, before March 29, 2023, and from the other three societies before March 22, 2022. Users will need an Aadhaar-linked mobile number and bank account to register on the online portal. Further, they would also have to present documents that specify their deposit number and membership details.
Those who claim a refund of more than Rs. 50,000 must submit their PAN cards. However, when we visited the website to compile this report, we saw a note that read, “We are currently accepting resubmissions for claims aggregating up to Rs. 19,999.” To register, head to “https://mocrefund.crcs.gov.in/Help” and register on the home page by entering the Aadhaar-linked mobile number. Following this, users must verify their credentials with an OTP.
Sahara Refund Portal FAQ
How to apply for a claim on Sahara refund portal?
This comprehensive guide walks you through the step-by-step process of filing a refund claim online via the CRCS Sahara Refund Portal. Follow these instructions carefully to ensure a smooth and successful submission.
Step 1: Access the Portal
Begin by navigating to the CRCS Sahara Refund Portal at https://mocrefund.crcs.gov.in/.
Step 2: Registration
To register as a depositor:
- Enter your 12-digit Membership Number.
- Input the last 4 digits of your Aadhaar Number.
- Provide your 10-digit Aadhaar-linked Mobile Number.
- Fill in the Captcha code and click “Get OTP” to receive a One-Time Password on your mobile.
Step 3: OTP Verification
Enter the OTP sent to your Aadhaar-linked mobile number to complete the registration.
Step 4: Sign In
For login:
- Enter the last 4 digits of your Aadhaar Number.
- Provide your 10-digit Aadhaar-linked Mobile Number.
- Complete the Captcha and click “Get OTP” for a new OTP.
Step 5: OTP Entry
Input the received OTP to log in.
Step 6: Aadhaar Consent
Once logged in, you’ll need to provide your Aadhaar consent. Agree to the terms and conditions by selecting “I agree.”
Step 7: Personal Details
For personal details verification:
- Enter your 12-digit Aadhaar Number and click “Get OTP.”
- Input the OTP received on your Aadhaar-linked mobile number.
Step 8: Verify OTP
Click “Verify OTP” to proceed after entering the OTP.
Step 9: User Details
Post-OTP verification, your Aadhaar user details will be displayed. This includes your name, date of birth, and father’s/husband’s name.
Step 10: Email Address (Optional)
You may enter your email address and click “Save Email.” Press the “Next” button afterward.
Step 11: Deposit Details
Enter the details as shown on your Certificate of Deposit.
Step 12: Submit Claim
Click “Submit Claim” to review all details entered. You can add multiple claims if necessary.
Step 13: Pre-filled Claim Form
Ensure all details are accurate before proceeding, as changes cannot be made later.
Step 14: Claim Form Preparation
Affix your latest photograph and sign the claim form alongside the photograph.
Step 15: Document Upload
Upload the signed claim form and a copy of your PAN card (mandatory for claims over ₹50,000). Ensure the file sizes are within the 12MB limit for the claim form and 50KB for the PAN card.
Step 16: Confirmation
A thank-you page will display your claim request number. Note this number down for future reference.
By following these steps, you can efficiently submit your refund claim on the CRCS Sahara Refund Portal. Ensure all details are accurate and documents are correctly uploaded to avoid any delays in processing your claim.
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