Sahara India Pariwar has officially released the New Refund List for 2025, bringing long-awaited relief to millions of investors across the country. This list includes the names of those eligible to receive refunds in a phased manner this year. The entire process is being monitored under the directions of the Supreme Court of India, ensuring fairness and legal transparency.
According to the latest update, refunds will be processed between March 2025 and December 2025 through direct bank transfers. The company has launched a dedicated online portal to facilitate application submissions and track refund status digitally, making the process faster and more secure.
This refund list applies only to investors who have updated their KYC information, hold valid investment certificates, and are either previously registered or now eligible to apply.
Background of the Sahara Refund Dispute
The dispute between Sahara India and SEBI began in 2011, when SEBI declared the company’s OFCD (Optionally Fully Convertible Debentures) schemes illegal. Following this, the Supreme Court, in 2012, ordered Sahara to deposit more than ₹24,000 crore with SEBI to facilitate refunds to investors.
While the refund process remained sluggish for years due to multiple legal hurdles, significant momentum has built up in recent years, thanks to regulatory and judicial pressure. The Sahara-SEBI Refund Portal, launched earlier, enabled many investors to claim partial refunds. Now, the 2025 refund list marks the beginning of a broader and more organized phase.
Who Will Get Paid, When, and How?
The new list includes around 10 lakh investors (1 million). Refunds will be processed in multiple phases between March and December 2025. The last date to apply for refunds is 30 June 2025. All payments will be made via NEFT or RTGS directly to the beneficiary’s bank accounts.
| Category | Details |
|---|---|
| List Release Date | 15 March 2025 |
| Total Eligible Investors | Approx. 1 million |
| Refund Period | March to December 2025 |
| Minimum Refund Amount | ₹10,000 |
| Maximum Refund Limit | ₹5,00,000 |
| Application Deadline | 30 June 2025 |
| Payment Mode | Direct Bank Transfer (NEFT/RTGS) |
How to Apply for the Sahara India Refund?
Sahara India has simplified the refund application process with a user-friendly online system. Investors can apply directly through the company’s official portal using basic information and uploading the required documents.
- Visit the official website: www.sahara.in/refund2025
- Click on “Refund Application 2025”
- Enter your Investment Certificate Number and Registered Mobile Number
- Verify your identity using the OTP sent to your mobile
- Fill out your personal details, investment information, and bank account details
- Upload scanned copies of the required documents
- Submit the application and note down your reference number
Applicants must ensure that their bank details are accurate and that documents are clearly scanned and readable to avoid rejection.
Documents Required for Claiming Refund
Investors must upload the following documents to complete their refund application. These documents are mandatory and must be legible:
- Original Investment Certificate issued by Sahara India
- ID Proof: Aadhaar Card / PAN Card / Passport / Voter ID
- Address Proof: Aadhaar / Ration Card / Electricity or Water Bill
- Bank Proof: Cancelled cheque or passbook showing account number & IFSC
- Recent passport-size photograph
- Mobile number linked with Aadhaar
Scanned documents should be clear and in accepted file formats (PDF, JPG, PNG). Blurry or incomplete documents may lead to rejection.
Who Will Get Refunds First?
To ensure fairness and prioritize vulnerable groups, Sahara India has announced a priority-based refund mechanism. Certain categories of investors will receive their refunds earlier than others, based on need and urgency.
| Investor Category | Priority Level |
|---|---|
| Senior Citizens (60+ years) | Very High |
| Patients with Critical Illness | Very High (with proof) |
| Widows and Single Women | Medium |
| Small Investors (Below ₹50,000) | Very High |
Eligible investors under these categories must provide relevant supporting documents (medical reports, age proof, etc.) to claim priority.
How to Check Refund Status?
After applying, investors can track their refund status using multiple official channels. Sahara India provides real-time updates and support through digital and direct modes:
- Online Portal: Visit the official website and go to the “Refund Status Check” section
- Toll-Free Helpline: Call 01120909044 / 01120909045
- Email Support: Send an email to [email protected] with your reference number in the subject
- SMS Alerts: Regular updates are sent to the registered mobile number
Investors are encouraged to frequently check their status and follow up if needed.
Important Guidelines and Precautions
Investors must be cautious during the application process to avoid fraud or rejection. Sahara India has issued some important warnings and application tips:
- Never share OTP or bank details with unknown callers – Sahara will not ask for them over the phone
- Use only the official website for submitting your refund application
- Ensure that all uploaded documents are clear, authentic, and current
- Double-check bank details before submission
- Complete the application well before the 30 June 2025 deadline
A Promising Turn in a Long Battle
The Sahara India New Refund List 2025 is a landmark move towards resolving one of India’s longest-standing investment disputes. Backed by court orders and regulatory supervision, this initiative brings justice to lakhs of affected individuals. With a digital-first, transparent system in place, the refund process is more streamlined than ever before.
If you are an investor who hasn’t yet applied, this is your chance. Gather your documents, complete your KYC, and submit your application through the official portal. This could be your long-awaited financial recovery.