The 'Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal' was launched by Union Home Minister and Minister of Cooperation, Amit Shah, in New Delhi.
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The initiative follows a Supreme Court judgment that directed the transfer of Rs. 5000 Crores from the "Sahara-SEBI Refund Account" to CRCS for disbursing dues to genuine depositors of the Sahara Group of Cooperative Societies.
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Through the portal, the first payment of up to Rs. 10,000 will be made to one crore investors who had deposited Rs. 10,000 or more.
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After the completion of the Rs. 5,000 crore payment, another appeal will be made in the Supreme Court to return the amount to the remaining investors.
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Depositors of the three specified societies who deposited before March 22, 2022, are eligible to apply for claims from the CRCS Sahara refund portal.
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The depositors of Stars Multipurpose Cooperative Society Limited, who deposited before March 29, 2023, are also eligible to apply.
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To apply on the CRCS Sahara refund portal, depositors must have their membership number, deposit account number, mobile number linked with Aadhaar, and Certificate of Deposit/Passbook.
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If the claim amount is Rs. 50,000/- and above, a PAN card is mandatory to apply on the portal.
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The application process involves registration, entering OTPs, providing personal details, entering claim details, preparing the claim request form, affixing a photograph and signature, and uploading the claim form and PAN card.
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Once the application is submitted, a claim request number will be provided for future reference.