Founded in 1999, Adarsh Credit Co-Operative Society Ltd. was a multi-state credit cooperative society headquartered in Ahmedabad, India. It aimed to promote thrift and financial cooperation among its members by accepting deposits and providing loans. The society grew rapidly, amassing over 2 million members and a network of more than 800 branches across India. However, in 2018, a massive fraud was uncovered, revealing that the society's promoters had siphoned off thousands of crores of depositors' money through fictitious loans to shell companies. This led to a government-ordered liquidation and multiple investigations by federal agencies.

Founded in

India