Rajasthan High Court has formed a committee headed by former CJI Sanjiv Khanna in the Adarsh Credit scam. This committee will work to return ₹25,000 crore to 20 lakh investors.
Rajasthan High Court forms a committee chaired by former CJI Sanjiv Khanna in the Adarsh Credit scam.
The scam is worth approximately ₹25,000 crore, affecting about 20 lakh investors.
The committee's first meeting will be held on August 5, 2026, with the aim of returning investors' money.
The Central Government will provide financial and administrative support to the committee.
Jodhpur |
The Rajasthan High Court has issued a landmark order in the high-profile Adarsh Credit Cooperative Society Limited scam, which involves about 20 lakh investors. The court has formed a high-level committee for the speedy resolution of cases and to return money to the investors.
Hearing a petition by Naurtamal Kumawat, the court ordered the formation of this committee under the chairmanship of former Chief Justice of India (retired) Justice Sanjiv Khanna to protect the interests of the investors. This decision has sparked new hope of refunds among lakhs of investors who have been waiting for their deposits for years.
The scam is reported to be worth approximately ₹25,000 crore, which includes about ₹10,000 crore in principal and ₹15,000 crore in interest.
The case came to light in 2018, and since then, about 20 lakh small investors, depositors, and pensioners have been eagerly awaiting the return of their money.
Committee's Structure and Functioning
The constituted high-level committee will be chaired by former CJI Sanjiv Khanna. The first meeting of the committee will be held on August 5, 2026, at 11:00 AM.
In this first meeting, the official liquidator, Mr. H.S. Patel, will present the preliminary details and necessary documents related to the case before the committee.
The High Court has expected the Central Government to provide necessary financial, logistical, and administrative support to the committee under Section 122 of the Multi-State Cooperative Societies Act.
Additionally, the former management and officials of Adarsh Credit have also assured the court that they will provide full cooperation to the committee in the process of returning the investors' funds.
Other Important Directives from the Court
In its order, the court has also maintained the status quo order dated 09.07.2026 on the land Khasra No. 1052 and all other properties located in Sirohi.
Notably, the depositors' organization NCCMWS had effectively advocated in the court in this matter, leading to this significant verdict.
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