As soon as the news of launching of CRCS-Sahara Refund Portal broke, the investors of the beleaguered Adarsh Credit Cooperative Society have started raising the demand for paying back their hard-earned money stuck in the society for the past many years.
While some of the investors wrote to the Indian Cooperative, many others took to social media and urged Prime Minister Narendra Modi and Union Cooperative Minister Amit Shah to listen to their grievances.
One of the investors named Mr Rajesh Joshi mailed us saying, ” I have invested some money in Adarsh Credit which got stuck for last 3-4 years. I got to read from your blog https://www.
Social media is replete with such requests as investors have felt a rekindling of hopes after the Sahara episode. One of the investors wrote, “Many people had deposited their retirement money in Adarsh Credit Cooperative Society and have lost their whole life’s savings”.
The social media user named Sriram Bala wrote, “We are all victims of Adarsh credit cooperative society. All the employee are loose the Job and facing lot of problem can’t able to run the family. Depositors are also Giving pressure and lot of Depositors are passed away. Lot of Depositors cant able to run the family. Please help for all the Employees victims of Depositors sir”.
“Dear Home Minister, it is a welcome move and it will benefit all those investors who had invested in Sahara’s credit co-ops. Please take necessary measures for the investors of Adarsh Credit Society as well. A ray of hope has arisen”, wrote another social media user named Bhushan Karwa.
Yet another wrote, “In Adarsh Credit Cooperative Society, crores of common people’s money is deposited, the process should be started to get it back. So that the hard earned money of the general public can be returned”.
The social media user Manohar Rathore wrote, “Sir, another such society, Adarsh Credit Society, which has looted the money of lakhs of investors, in this case too, the BJP government should do justice to the people”.
”Adarsh Credit Society has assets worth 9 thousand crores, the government should return the money to the investors by selling their assets”, suggested one of the users.
Earlier, during an event, Indian Cooperative also raised the issue of Adarsh Credit Cooperative Society before the Union Home and Cooperation Minister Amit Shah. In his reply Shah said, “We are helping the investors associated with Sahara Group’s four societies, we will also work on helping the depositors of Adarsh Credit Cooperative Society”.
“It was easy in the case of Sahara because the amount is with the SEBI but in the matter of Adarsh Credit Co-op Society, we have to sell the assets of the society to pay out the money of depositors and the discussion with the stakeholders is going on”, he added.
Beginning in Sirohi in Rajasthan, Adarsh Credit society 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.