Adarsh: Victim writes to Liquidator and Central Registrar

The helpless depositors of Adarsh Credit Co-operative, who deposited their hard-earned money believing their money would grow with time are finding it hard to recover even their principal amount.

Every week we receive several mails from the victims. Since it is not possible to publish all of them, as a sample we are publishing a letter full of anguish and pain written by one Ashok Kumar Chouhan to the Sh. H. S. Patel, I.A.S.(Retd.), Liquidator for Adarsh Credit Co-Operative Society Limited.

Chouhan, a retired government servant and now a pensioner of Rajasthan is resident at New Housing Board, Pali (Rajasthan). For the sake of caution we have deleted his mobile number, though his email, as given by him is being published.

Adarsh Credit is accused of duping more than 20 lakh depositors in the name of cooperative. The arrested founder chairman of Adarsh Credit Mukesh and his family members are alleged to have been running Ponzi schemes and had floated several fake companies to which they diverted Rs 8400 crore.

Below is his letter which is self-evident:

To,

Sh. H. S. Patel, I.A.S.(Retd)

Liquidator for Adarsh Credit Co-Operative Society Limited

(Multi-State), Adarsh Bhawan, 14, Vidhya Vihar Colony, Usmanpura,

Ashram Road, Ahmedabad-380054.

Reference: – Your intimation letter regarding charge assumed dated 17.12.2018, addressed to Sh. Dr. Abhilash Likhi, the Joint Secretary (Cooperatives & Central Registrar of Co-Operative Societies), Krishi Bhawan, New Delhi.

Respected sir,

With due regards, I Ashok Kumar Chouhan and my wife Smt. Jyoti Chouhan, do hereby beg to state that-

1. I am a retired government servant now a pensioner of Rajasthan, resident at 3-D-39, New Housing Board, Pali-306401 (Rajasthan).
2. My email address ischouhansir@gmail.com.
3. My saving account no. in this society’s Pali branch office is 1008100102477769 and the last credit balance amount as on dated 18.10.2018 is Rs. 2083486.99/-.
4. My wife’s saving accounts no. in this society’s pali branch office is 1008100102461028 and the last credit balance amount as on dated 30.09.2018 is Rs.66331.62/-.
5. My share certificate numbers, amounts and date of maturity are as follows:- a. No. 0199732 , 5 Lakh, 02.12.2018, b. No. 0199733, 5 Lakh, 02.12.2018, c. No. 0199734, 5 Lakh, 04.12.2018, d. No. 0199863, 78460/-, 21.07.2019.
6. Self-attested photocopies of saving diaries of both me and wife, and of share certificates mentioned at point 5 as above, are being sent attached /enclosed herewith.

Most respectfully praying to your kind authority that this savings Rs. 2149819/- and investment in share bonds Rs. 1578460/- ; i.e. total amount Rs. 3728279/- is our life time savings and lump sum fund received after retirement including surrender leave, commutation, gratuity etc. Kindly arrange to pay principal and interest total amounts to 40 Lakhs approximately, so that the rest of our life liabilities can be carried on, Sir.

Rahul Modi, Mukesh Modi, Adarsh Credit Co-Op society Ahmedabad are not paying our money back. We are on the verge of committing suicide as we have no money to survive any longer.