Sahara Group Investors: The wait of crores of investors who have invested in Sahara Group’s companies is about to end now. For almost 10 years, these investors have been waiting to get their money back. After the order of the Supreme Court, the Center has made a plan to return the money of about 10 crore investors within 9 months.
New Delhi. There is big news for those who have invested in Sahara Group companies. The Central Government has said that 10 crore investors (Sahara Group Investors) who invested money in the group will get refund within 9 months. On the orders of the Supreme Court, the government has made a complete plan to get refunds to those who invest money in co-operative societies of Sahara group. Under this, the amount of 5000 crores deposited in the Sahara-SEBI Refund Account will be transferred to the Central Registrar’s account and then returned to the investors.
The Union Ministry of Cooperatives said in an official statement, after the historic decision of the Supreme Court, the way has been cleared to return the money of 10 crore investors. These investors had invested money in 4 cooperative societies of Sahara Group. Now the amount deposited in the Sahara-SEBI refund account will be returned to the investors.
Those who invest here will get money
According to the order of the Supreme Court, those who invest money in 4 co-operative societies of Sahara Group will get refund. In this Sahara Credit Co-operative Society Limited (Sahara Credit Cooperative Society Limited), Saharayan Universal Multipurpose Society Limited, Humara India Credit Co-operative Society Limited and Stars Multipurpose Co- Schemes like Operative Society Limited (Stars Multipurpose Cooperative Society Limited) are included. All these schemes have been registered between March 2010 and January 2014 under the Multi-State Co-operative Societies Act 2002.
Payment will have to be completed in 9 months
The Supreme Court has said in its order that the entire process of payment should be completed in 9 months. Earlier, the apex court had accepted the appeal of the Centre, in which an application was made to allot Rs 5000 crore kept with SEBI out of Rs 24 thousand crore deposited in Sahara Group.
Earlier, lakhs of investors across the country who had deposited money in 4 co-operative societies of Sahara Group had complained about non-refund of their money. After this notice was issued to all the societies and the hearing was also done by the Central Registrar. The Central Registrar had ordered all the societies to return the money soon and put a stop to new deposits.
Case created due to interference of Amit Shah
The Ministry of Cooperative said that 1.22 lakh complaints were sent to the societies and recommended early refund, but the societies did not take any action on it. During this, the Ministry was receiving a large number of complaints continuously.
Then Union Cooperative Minister Amit Shah had to intervene and held several rounds of meetings with Department of Economic Affairs, Department of Revenue, SEBI, SFIO and ED. After this, the ministry appealed to the apex court to transfer Rs 5,000 deposited with SEBI to the Central Registrar. This money will be returned to the depositors within 9 months under the supervision of Central Registrar’s lawyer Gaurav Agarwal.
