India, March 11 -- The Government of India issued the following news release:
As provided by the 04 Sahara Group of Cooperative Societies the total number of depositors are 5.42 lakhs and total amount deposited is Rs 1,13,504 Crores as on 31.03.2023. Large number of complaints are there regarding non- payment of the deposits.
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...