In a significant move providing relief to numerous depositors, the Supreme Court has authorized the disbursal of another ₹5,000 crore from the Sahara Group's deposits held with the Securities and Exchange Board of India (SEBI). This decision aims to repay dues to the depositors of Sahara Group's cooperative societies.

The Supreme Court's order, delivered on Friday, permits the transfer of ₹5,000 crore from the SEBI-Sahara Refund Account to the Central Registrar of Cooperative Societies. The Central Registrar is tasked with disbursing the funds to genuine depositors after verifying their claims. The court has directed that the transfer of funds be completed within a week. The disbursal process will be supervised by retired Supreme Court Justice R. Subhash Reddy, ensuring adherence to the modalities outlined in the court's March 2023 order.

The decision comes in response to an application filed by the Central Government, seeking the allocation of funds lying in the SEBI-Sahara refund account for payment to the depositors. This application was filed in connection with a Public Interest Litigation (PIL) initiated by Pinak Pani Mohanty, who sought directives for the repayment of investors in Sahara's chit fund companies and credit firms.

The Supreme Court has also extended the deadline for the disbursal of the ₹5,000 crore from December 31, 2025, to December 31, 2026. This extension provides additional time for the repayment process, which began with a similar release of ₹5,000 crore in 2023.

It has been reported that ₹2,314.20 crore has already been disbursed to 12,97,111 depositors as of February 28, 2025. Currently, each verified depositor is eligible for a refund of up to ₹50,000, which is directly credited to their Aadhaar-linked bank accounts.

For those seeking refunds from Sahara, the Ministry of Cooperation launched the CRCS Sahara Refund Portal. Depositors of the following cooperative societies are eligible to submit refund requests online: 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.

To register on the Sahara Refund Portal, depositors must visit the website and click on the 'Depositor Registration' tab. They will need to enter the last four digits of their Aadhaar number and the mobile number linked to their Aadhaar. After completing the registration, depositors can log in to the portal and provide their consent by clicking 'I Agree'. They will then need to enter their 12-digit Aadhaar number and click 'Get OTP'.

To complete the claim process, depositors must fill out the online form with accurate personal and investment details, including their investment reference number and PAN details. They must also upload scanned copies of their identification and investment proofs. Required documents include proof of investment, identity proof (PAN card, Aadhaar card, or government-issued ID), bank account details, a passport-sized photograph, and address proof. Once the application is submitted, depositors will receive an acknowledgment receipt and can monitor their application status on the portal.

The Sahara India Resubmission Portal was launched on November 15, 2023, to allow depositors to resubmit their applications if deficiencies were found or payments failed. Only those depositors/members, whose applications have completed 45 days, are eligible to login and resubmit their application in Re-submission portal.

This recent order by the Supreme Court provides a significant step forward in the ongoing effort to reimburse Sahara Group depositors, offering a measure of relief to those who have been awaiting the return of their investments.