Sahara Refund Portal - Check How to Claim Refund?

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Sahara Refund Portal - Check How to Claim Refund?

On 21st July, 2023 the Union Home and Cooperative Minister Amit Shah said that 5 lakh people are already registered on Central Registrar of Cooperative Societies (CRCS) Sahara Refund Portal. The portal aims to facilitate over 10 crore depositors of Sahara Group in claiming their money back within a timeframe of 45 days.

The portal was created in response to the Supreme Court’s decision to ensure transparency and offer a 100% guarantee for investors to get their money back. The depositors can register on the portal and claim for the refund. For the claiming process, there are no charges, it’s free of cost.

Who is Eligible to Get Refund from CRCS Sahara Refund Portal?

The genuine and legitimate depositors of these four Sahara Societies are eligible for refund through the CRCS Sahara Refund Portal:

1. Humara India Credit Cooperative Society Limited, Kolkata.
2. Sahara Credit Cooperative Society Limited, Lucknow.
3. Saharayan Universal Multipurpose Society Limited, Bhopal.
4. Stars Multipurpose Cooperative Society Limited, Hyderabad.

Documents Required for Sahara Refund Form

The depositor need to provide the following documents with the Claim Request form/ Application:

• Membership Number
• Deposit Account Number
• Aadhaar Linked Mobile Number and Aadhaar seeded Bank account (Mandatory)
• Deposit certificates/ Passbook
• Claim Request Form
• PAN card (if claim amount is Rs. 50,000/- and above) (Mandatory)
  

Yes, the submitted documents, including the Deposit Certificate/Passbook, will be verified by the respective Sahara Societies and the verification process will be carried out as per the guidelines prescribed by CRCS. 

Without Aadhaar seeded bank accounts, depositors cannot file a claim. The Aadhaar seeded bank account will facilitate the secure fund transfer to the genuine Depositor’s Bank Account. To check status visit a UIDAI website [https://resident.uidai.gov.in/bank-mapper]  

Note: For linking the Aadhar with mobile number visit the nearest Aadhaar Seva Kendra.

Documents Specifications

The following things should be keep in mind while uploading documents on the CRCS portal:

• Documents uploaded should be on grayscale or color scale, vertically aligned. 
• Size of the document should be restricted to 200KB for Deposit Certificate/ Passbook
• 2 MB for Completed pre-filled and executed Claim Application Form and 50 KB for PAN Card.

How to Apply on CRCS to Get Sahara Refund?

To apply for a Shara refund on the CRCS-Sahara Refund Portal. These steps are as follows:

1. Visit a CRCS online portal (https://mocrefund.crcs.gov.in/) and click on “Depositor Registration”.
2. Enter your 12 digit Membership Number, last 4 digit of Aadhaar card, your Aadhar linked Mobile Number, fill captcha. Click on get OTP.
3. Fill the OTP you received on your registered mobile number.
4. Enter the received OTP and click on “Verify OTP” to complete the mandatory registration process.
5. Now again go on Home Page and click on “Depositor Login”. 
6. Enter the Aadhaar Number, click on get OTP.
7. You will receive an OTP on the number registered with the Aadhaar Card, verify the OTP.
8. After verification, all your Aadhaar details will display on the screen.
9. Next, enter the details displayed on the certificate of deposit.
10. Lastly, click on “Submit Claim” to view all the details.

Claim Settlement Process

The depositor has to submit all the details of deposits across different Sahara societies. Mention all the claim details one-by-one in a single claim form. Scan and upload an original certificate of deposit (CD) or passbook individually for each account.

After submitting a claim form, the depositor cannot add further claims. So, ensure that all the details are accurately filled in one go. After verifying the claimed data, download and print the Claim Form. Add your recent photograph and sign across the photo. Scan, upload and submit the Claim Form.

Once the claim form is submitted, an acknowledgement number will appear on the screen and you receive a SMS on the registered mobile number. The Sahara Society will verify the claim and process it within 30 days. 

How Much Time took to Receive Claim?

After verification by the Sahara Societies, the Authorized verifier and CRCS will process your claim in the next 15 days. The refund process will start from Rs. 10 thousand. The investors, who had deposited Rs. 10 thousand or more will get the refund within 45 days in their bank account.

Contact for Assistance During Claim Filing Process

If any query during the filing process, you can contact the respective Sahara Societies as mentioned below:

The Depositor can contact the respective Sahara Societies branch for queries regarding the claim only after 45 days of submitting the claim on the CRCS Sahara Refund Portal.

Conclusion

The depositor can contact the Sahara Societies branch for queries, only after 45 days of submitting a claim on CRCS Sahara Refund Portal. Once the claim gets approved the depositor will receive a message from the CRCS portal. The process is completely online, so you don’t have to go anywhere to submit a physical claim application.

Also read: Steps to Follow Before Filing an ITR Return

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