The Coronavirus outbreak has created a big problem for the people who had invested their hard earnings in the beleaguered cooperative Rajasthan based Adarsh Credit Cooperative Society.
In the current situation, it has become difficult for investors to make both ends meet. Investors are going from pillar to post to get their money back. Meanwhile, they have launched the “Save Adarsh Credit” campaign on social media platforms to fight for their rights.
The social media is filled with the tweets of gullible investors who are asking the central government especially Prime Minister Narendra Modi to intervene in the matter and help lakhs of helpless investors in getting their money back.
Several investors are urging the central government to remove the liquidator and appoint an administrator to regulate the credit cooperative. One of the investors wrote on social media, “Dear PM Sir Pls remove liquidator and appoint an administrator to regulate adarsh credit cooperative society Ltd. So lives of 21 lakh members, 4 lakh advisers and 4000 employees can be saved. We are in big trouble please help us”.
Another wrote, “Narendra Modi Sir please help us in getting our payment back. Our money was already locked in Adarsh credit. We are waiting for your kind favour. “We are waiting for justice for the last two years. Plz help and Start the Adarsh credit co-op society ltd. Our future and family are on fire”, yet another investor wrote.
One of the investors, Akhilesh Tank, wrote, “Respected PM sir plz take such action in matters of Adarsh credit Cooperative Society, that each and every investor, agent get relief. This mass investment of millions and daily routine income stopped since last 2years. @narendramodi @nsitharaman @AmitShah.
“Prime Minister, on the one hand, due to the global epidemic, livelihood was snatched, on the other hand, the money deposited in Adarsh Credit was not being received for 2 years, which would be useful for today’s family in bad times as well, listen to the voice of millions of investors and the society Order to be regulated’, wrote yet another investor.
Indian Cooperative failed to gather information about the current status about the Adarsh Credit Cooperative Society. The official website of govt which announced that the Adarsh credit is under liquidation has no further update.
Beginning in Sirohi in Rajasthan, Adarsh Credit branched off to Haryana and Gujarat with its headquarters in Ahmedabad. More than seventy percent of investors are said to belong to Rajasthan.
The founder chairman of Adarsh Credit Co-op Mukesh and his family members are alleged to have run Ponzi schemes and floated several fake companies to which they diverted Rs 8400 crore.
Twenty lakh people invested Rs 14,682 crore over 8 years in Adarsh credit society.