Ministry of Cooperation vs Union of India and Ors

Bench: 2 — M.R. Shah, C.T. Ravikumar

In Brief

The Supreme Court transferred Rs. 5,000 Crores from a SEBI-held refund account (containing Sahara Group deposits) to the Central Registrar of Cooperative Societies for disbursement to genuine depositors of Sahara Group Cooperative Societies. The Court appointed a retired Supreme Court Judge and an Advocate as Amicus Curiae to supervise transparent, identity-verified payments directly to depositor bank accounts. All transfers must be completed within nine months. Unspent funds revert to the account. This addressed ongoing consumer complaints against the Sahara cooperatives."

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Cooperative Societies Consumer Protection Restitution Judicial Supervision Public Funds Management SEBI

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