**Summary:**
The Ministry of Cooperation is overseeing the refund process for depositors of four Multi-State Cooperative Societies of the Sahara Group: Sahara Credit Cooperative Society Ltd. (Lucknow), Saharayn Universal Multipurpose Society Ltd. (Bhopal), Humara India Credit Cooperative Society Ltd. (Kolkata), and Stars Multipurpose Cooperative Society Ltd. (Hyderabad). This initiative stems from a March 29, 2023 order by the Supreme Court, directing the transfer of ₹5,000 Crores from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies for disbursement to legitimate depositors.
The disbursement process is being supervised by Justice R. Subhash Reddy (Former Judge of the Supreme Court) with assistance from Shri Gaurav Agarwal (Advocate) as Amicus Curiae. The Central Registrar of Cooperative Societies is responsible for determining the payment modalities in consultation with Justice Reddy and Shri Agarwal.
An online portal, CRCS-Sahara Refund Portal (https://mocrefund.crcs.gov.in), was launched on July 18, 2023, to facilitate claim submissions. The process is entirely digital and paperless, with payments deposited directly into the Aadhaar-seeded bank accounts of verified depositors. As per the Standard Operating Procedure (SOP), depositors with matured and unpaid deposits as of March 31, 2023, are eligible to apply. Currently, only the principal amount payments up to ₹50,000 are being disbursed to each depositor. The ceiling limit of disbursement per depositor is increased from time to time keeping in mind the small depositors on priority and availability of funds. A separate re-submission portal (https://mocresubmit.crcs.gov.in) was launched on November 15, 2023, to allow depositors to address deficiencies in their applications.
As of July 23, 2025, ₹5,139.23 Crores has been disbursed to 27,33,520 depositors out of 1,35,34,410 depositors of Sahara Group of Cooperative Societies and amount of Rs. 523.72 Crore was available for disbursement. The Supreme Court has extended the deadline for disbursement of refunds to Sahara depositors until December 31, 2025.
Key Entities Referenced
Ministry of Cooperation: The ministry responsible for filing the Interlocutory Application and overseeing the refund process of the Sahara Cooperatives.
Sahara Group of Cooperative Societies: A group of cooperative societies, including Sahara Credit Cooperative Society Ltd., Saharayn Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd., whose depositors are eligible for refunds.
Supreme Court of India: The highest judicial body in India, which ordered the transfer of funds from the SaharaSEBI Refund Account for disbursement to depositors and appointed Justice R. Subhash Reddy to supervise the disbursement.
Justice R. Subhash Reddy: Former Judge of the Supreme Court, appointed to supervise and monitor the disbursement of funds to the genuine depositors of the Sahara Group of Cooperative Societies.
Shri Gaurav Agarwal: Learned Advocate appointed as Amicus Curiae to assist Justice R. Subhash Reddy and the Central Registrar of Cooperative Societies in disbursing the amount to the genuine depositors of the Sahara Group of Cooperative Societies.
Central Registrar of Cooperative Societies: The authority responsible for disbursing the funds to the depositors of the Sahara Group of Cooperative Societies and working out the modalities for making the payments.
Sahara Credit Cooperative Society Ltd., Lucknow, Uttar Pradesh: One of the Multi-State Cooperative Societies of the Sahara Group whose depositors are eligible for refund.
Saharayn Universal Multipurpose Society Ltd., Bhopal, Madhya Pradesh: One of the Multi-State Cooperative Societies of the Sahara Group whose depositors are eligible for refund.
Ministry of Cooperation
Refund Status of Money deposited with the Sahara
Cooperatives
Posted On: 29 JUL 2025 4:46PM by PIB Delhi
In an Interlocutory Application filed by the Ministry of Cooperation in WP (C) No.191/2022 (Pinak Pani
Mohanty vs UoI & ors.), the Hon’ble Supreme Court on 29.03.2023 inter alia ordered that:
“(i) Out of the total amount of Rs. 24,979.67 Crores lying in the “Sahara-SEBI Refund Account”, Rs.
5000 Crores be transferred to the Central Registrar of Cooperative Societies, who, in turn, shall
disburse the same against the legitimate dues of the depositors of the Sahara Group of Cooperative
Societies, which shall be paid to the genuine depositors in the most transparent manner and on proper
identification and on submitting proof of their deposits and proof of their claims and to be deposited in
their respective bank accounts directly.
(ii) The disbursement shall be supervised and monitored by Justice R. Subhash Reddy, Former Judge
of this Court with the able assistance of Shri Gaurav Agarwal, learned Advocate, who is appointed as
Amicus Curiae to assist Justice R. Subhash Reddy as well as the Central Registrar of Cooperative
Societies in disbursing the amount to the genuine depositors of the Sahara Group of Cooperative
Societies. The manner and modalities for making the payment is to be worked out by the Central
Registrar of Cooperative Societies in consultation with Justice R. Subhash Reddy, Former Judge of
this Court and Shri Gaurav Agarwal, learned Advocate.”
In compliance of the Hon’ble Supreme Court’s Order dated 29.03.2023, an Online Portal “CRCS-Sahara
refund portal” https://mocrefund.crcs.gov.in has been launched on 18.07.2023 for submission of claims by
the genuine depositors of 4 Multi-State Cooperative Societies of Sahara Group, namely; Sahara Credit
Cooperative Society Ltd., Lucknow, Saharayn Universal Multipurpose Society Ltd., Bhopal, Humara India
Credit Cooperative Society Ltd., Kolkata and Stars Multipurpose Cooperative Society Ltd., Hyderabad for
refund of their legitimate deposits. Entire process of disbursement is digital and paperless and is being
carried out under the supervision and monitoring of Justice R. Subhash Reddy, Former Judge of Hon’ble
Supreme Court of India with the assistance of Shri Gaurav Agrawal, Amicus Curiae.
Applications received on the Portal are being processed in transparent manner, on proper identification and
on submitting proof of their identity and deposits. The payment is being deposited directly in Aadhaar
seeded bank account of the genuine depositors. As per Standard Operating Procedure (SOP), depositors
whose deposits have matured and remained unpaid as on 31.03.2023, are eligible to submit their application
on the portal. Presently, principal amount payment only upto Rs.50,000/- is being disbursed to each genuine
depositor of the Sahara Group of Cooperative Societies against verified claims through Aadhaar seeded
Bank account. Further, ceiling limit of disbursement per depositor is increased from time to time keeping in
mind the small depositors on priority and availability of funds.
Further, in case of any deficiency found in the application of the depositor on the portal, deficiencies are
being conveyed to them for re-submission of their application through the “Re- submission portal”
https://mocresubmit.crcs.gov.in already launched on 15.11.2023.
As on 23.07.2025, an amount of Rs. 5,139.23 Crore has been disbursed to 27,33,520 depositors out of
1,35,34,410 depositors of Sahara Group of Cooperative Societies and amount of Rs. 523.72 Crore was
available for disbursement. The Hon’ble Supreme Court has granted the extension for disbursement of
refund to the Sahara depositors upto 31.12.2025.
This was stated by the Minister of Cooperation, Shri Amit Shah in a written reply to a question in the Lok
Sabha.****
VV/RR/PR/PS/HS
(Release ID: 2149759)