look news india
There is a good news for the investors who have invested in Sahara Group. Now the government will return Rs. 50,000 instead of Rs. 10,000. The government has increased the limit 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. The government has increased the limit of the amount to be returned for small depositors of Sahara Group's cooperative societies from Rs. 10,000 to Rs. 50,000. An official of the Cooperative Ministry gave this information.
Now you will get 50,000 rupees
The government has so far released Rs 370 crore to over 4.29 lakh depositors of Sahara Group cooperatives through the CRCS (Central Registrar of Cooperative Societies)-Sahara refund portal. The official said that with the refund amount capped at Rs 50,000, about Rs 1,000 crore will be paid in the next 10 days. He said last week the limit of 'refund' amount for small investors was increased from Rs 10,000 to Rs 50,000.
The government is conducting a thorough investigation
The government is carefully scrutinizing the claims of depositors before issuing 'refunds'. The CRCS-Sahara Refund Portal was launched on July 18, 2023 to submit claims for refund of legitimate deposits 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 Limited, Lucknow, Saharayan Universal Multipurpose Society Limited, Bhopal, Hamara India Credit Cooperative Society Limited, Kolkata and Stars Multipurpose Cooperative Society Limited, Hyderabad.
Court decision
An amount of Rs 5,000 crore was allocated to the Central Registrar of Cooperative Societies (CRCS) from the SEBI-Sahara refund account on May 19, 2023 as per the court's order dated March 29, 2023. The matter of digital distribution of funds is being looked into by apex court judge Justice R Subhash Reddy.