To protect the people from Ponzi schemes that befool innocent investors and make money in the name of cooperative, Rajasthan govt has decided to make a three member team which would study the co-op laws of Gujarat and Madhya Pradesh.
The team would recommend suggestions as to how to deal with the situation. This may also lead to amendment in the existing co-op laws of the state, sources say.
It bears recall that Rajasthan is home to the masterminds of kings of Ponzi schemes- Mukesh and Rahul Modi. It was here they first floated the Adarsh Credit Co-operative which is drawing huge media attention due to the scale of cheating.
Adarsh Credit is accused of duping about 20 lakh people to the tune of Rs 9000 crore. While the Modis are in jail, the liquidation process is underway.
