Central registrar is still developing transparent mechanism to repay money of depositors


It is informed that a large number of complaints regarding non-repayment of deposits to 

the members/ depositors of Sahara Credit Cooperative Society Ltd; Saharayn Universal 

Multipurpose Society Ltd; Humara India Credit Cooperative Society Ltd and Stars 

Multipurpose Cooperative Society Ltd. were received in the office of the Central Registrar of 

Cooperative Societies (CRCS). Taking cognizance of the complaints, notices were issued to the 

above-named Societies and thereafter, six personal hearing of each of the above Societies were 

held before the CRCS.

2. During the hearing, CRCS gave following directions to the societies:

a) Pay due amount to the depositors;

b) create a mechanism of informing to the depositors, whose deposits have become 

overdue and ensure that a member/depositor can take payment within 30 days. 

c) Submit details of assets and liabilities of societies including assessment with a credible 

plan for realization of funds from these assets so that the amount due to depositors can 

be paid in time;

d) Prepare a credible working plan for the Societies, on the basis of complete financial 

assessment of the society.

e) If societies fail to comply with the directions, proceedings for winding up will be 


3. Since, no convincing reply was forthcoming, CRCS debarred the Societies from taking 

new deposits or renewing the existing deposits. 

4. The said orders of CRCS were challenged by the Sahara Credit Cooperative Society Ltd; 

Saharayn Universal Multipurpose Society Ltd; and Humara India Credit Cooperative Society 

Ltd before the Hon’ble High Court of Delhi and by Stars Multipurpose Cooperative Society Ltd 

before the Hon’ble High Court of Telengana. The Hon’ble Courts granted an interim stay on the 

operation of orders of CRCS.

5. The matter was pursued and the Hon’ble High Court of Delhi vide its order dated 

22.03.2022 partially vacated the stay and restored orders of CRCS thereby directing the 

petitioners-societies not to collect any further deposits. The Hon’ble Court further gave following 


a. Societies to nominate nodal officers to communicate with CRCS office;

b. CRCS to look into the claims received by him or filed before the Hon’ble Court by way 

of intervention applications:

c. CRCS to pass orders directing the petitioners to refund the amounts to such 

members/investors/depositors whose amounts are found to have become due and payable; 

after examination. 

d. Societies to pay within two weeks of such determination.

6. Accordingly, claims were being forwarded to the Societies with a direction to pay due 

amount to legitimate depositors. Status Report in the matter was also filed in the Hon’ble 


7. Further, on the application of Ministry of Cooperation in IA No. 56308 of 2023, Hon’ble 

Supreme Court has directed vide its order dated 29th March, 2023 the following: -

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 


iii. The Hon’ble Supreme Court has directed that the process should be completed within 9 

months from the date of issue of their order.

8. Accordingly, a suitable transparent mechanism is being developed for inviting, verifying and 

disposing of legitimate claims of genuine depositors of Sahara Group of Cooperative Societies in 

accordance with directions of Hon’ble Supreme Court.

Grievance Status for registration number : MOCOP/E/2023/0008147

Grievance Concerns To

Name Of Complainant

Yogi M. P. Singh

Date of Receipt


Received By Ministry/Department


Grievance Description

Cooperation >> Central Registrar and Cooperative Society >> Multi State Cooperative Society related matters >> Other Multi State Cooperative Society related issues

Society Name : Saharayn Universal Multipurpose Society Ltd. Bhopal

Reference number from MSCS Act : Reference number from MSCS Act : Registered under Multi State Societies Cooperative Act 2002 Regd. No.-MSCS/CR/935/2014

This application is under Article 51 A of the constitution of India to make enquiry regarding repayment of the investors money in the light of the order passed by the honourable apex court of India as elaborated by the office in its report submitted in the following grievance of the applicant.

An application on behalf of Om Prakash Maurya, S/O Bhai Lal Maurya to seek intervention of public functionaries in looting of hard-earned money Om Prakash Maurya by Saharayn Universal Multipurpose Society Ltd. The address of the applicant is Main Road Chaksaif, Kapoor Karpet Gali, District-Sant Ravidas Nagar Bhadohi, PIN Code. 221401, Mobile number-8756871222.

Grievance Status for registration number : MOCOP/E/2023/0003491 Grievance Concerns To Name Of Complainant Yogi M. P. Singh

Date of Receipt 03/04/2023

Honourable sir, your report in the aforementioned complaint is as follows.

Accordingly a suitable transparent mechanism is being developed for inviting, verifying and disposing of legitimate claims of genuine depositors of Sahara group of cooperative societies in accordance with the direction of supreme court.

For more details, vide attached documents to the grievance.

According to the order passed by the Honourable apex court of India, the Central registrar will develop a transparent mechanism for repayment of money of investors of Sahara multi State society limited within 9 months. Which implies that repayment of the investors money will be completed within 9 months in a transparent and accountable way.

Let me tell you whatever process was carried out by the office of Central registrar will be followed or the entire process will be resumed as a fresh process.

We are still in the dark . You have repeatedly quoted in your earlier reports that your claim has been forwarded to the concerned society with direction to verify and make due payment. Whether this comment is still valid?

Please put light on your transparent mechanism being adopted by your office. Please tell your

Grievance Document

Current Status

Case closed   

Date of Action



Reply attached.

Reply Document




Rating Remarks

it seems that they do not take the perusal of the contents of the grievance quite obvious from their bogus and inconsistent report arbitrarily submitted by them on the public grievance portal. They have only 9 months time according to the order of the apex court of India and they did not commence their actions. The situation is very much embarrassing which must be managed with alertness. Here the role of the public staff is not admirable because of their laxity in the matter.

Appeal Details

Appeal Number

Date of Receipt

Appeal Text

Current Status

Officer Concerns To

Officer Name

Rajendra Singh (Section Officer)

Organisation name

Ministry of Cooperation

Contact Address

Atal Urja BhawanNear CGO ComplexLodhi Road

Email Address


Contact Number


To see the documents attached to grievance, click on the link


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