Three Sahara group companies banned from collecting public deposits, government says

In an official statement, the Union’s Ministry of Cooperation said: ‘…the vide injunction of the Delhi Supreme Court dated March 22… has issued Sahara Credit Cooperative Society Ltd., Lucknow, Uttar Pradesh, Saharayn Universal Multipurpose Society Ltd. ., Bhopal, Madhya Restricted. Pradesh and Humara India Credit Cooperative Society Ltd., Kolkata, West Bengal of collecting deposits from the public.’ In October 2020, the beleaguered group had said it has paid Rs 3,226 crore to more than 10 lakh members of its four associate credit unions in the past 75 days, including payments against requests from people who had complained about delayed payouts.