Sahara Refund: SEBI returned Rs 138.07 crore to Sahara investors, know how to get money from refund portal
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Sahara RefundSahara investors need not worry much. Their money is being returned gradually by the government and SEBI. Securities and Exchange Board of India (SEBI) has returned Rs 138.07 crore to the investors of two Sahara companies in 11 years. With this, the amount deposited in specially opened bank accounts has increased to more than Rs 25,000 crore. SEBI has given this information in its latest annual report. In the event of non-claiming of most of the bondholders of the two Sahara companies, SEBI could return only seven lakh rupees to the investors in 2022-23. On the other hand, the balance in the SEBI-Sahara Refund Account increased by Rs 1,087 crore.
The Supreme Court had ordered to return the money in 2012
In August 2012, the Supreme Court had ordered about three crore investors to return their money with interest. SEBI said in its annual report that it received 19,650 applications involving 53,687 accounts till March 31, 2023. In this, a total amount of Rs 138.07 crore was refunded along with interest in respect of 17,526 applications related to 48,326 accounts. The rest of the applications were submitted by two firms of the Sahara Group – Sahara India Real Estate Corporation Limited (SIREL) and Sahara Housing Investment Corporation Limited (SHICL) were closed due to non-location of their records in the data.
how to get money back
Through the portal launched by the central government, only the investors of four co-operative societies of Sahara Group will get their money back. Only those investors can apply for refund through the portal who had invested in Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited. Before applying, the investor has to know in which committee of Sahara group the money is invested. Also, the applicant should have all the documents related to it. In Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited, the depositor’s money will be returned which was deposited before March 22, 2022. Whereas, investors of Stars Multipurpose Co-operative Society Limited Hyderabad can apply before 29 March 2023.
when will i get full money back
People investing in Sahara India will first have to register by visiting the launch site by the government. From where a message will be sent to their mobile number. After this, their claim will be verified by Sahara Society within 30 days. After this, action will be taken by the government officials on this within 15 days. After the investor’s claim is approved, the amount will be sent directly to the account linked to the Aadhaar number.
What is the complete process of refunding the money
Collect all your documents before applying for Sahara’s investor refund. anymore Go to the portal. Register yourself by giving the requested information here. After this enter your Aadhaar number and the mobile number linked to it. After that click on Send OTP given below. Enter the OTP received on the mobile. On completion of registration, again go to investor login. Here again enter the mobile number and Aadhaar number. Enter the OTP received on the mobile. Then click on I agree. Give the complete information sought related to you and being a member of the society. If the claim amount is above 50 thousand, then also enter the PAN number. Explain that the investor can claim only once. So confirm by reading the complete details several times. Download the application and keep it safe.
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