The Central Registrar of Cooperative Societies (CRCS) has issued a show-cause notice to Amudha Surabhi Thrift and Credit Cooperative Society Ltd., Tamil Nadu, over its failure to respond to regulatory observations and file mandatory annual returns.
In its notice on Thursday, the CRCS said comments had earlier been sought from the society’s Chairman and Chief Executive Officer on observations made by the Registrar of Cooperative Societies, Tamil Nadu, during the 50th State Level Coordination Committee (SLCC) Meeting. However, no reply or comments have been received so far.
The CRCS further noted that, according to its records, the society has not filed any of its mandatory annual returns under Section 120 of the Multi-State Cooperative Societies (MSCS) Act, 2002.
The society has been directed to submit its explanation on both issues within seven days from the date of the notice.
The CRCS warned that failure to respond within the stipulated period could lead to appropriate action under the MSCS Act, 2002 and the Rules framed thereunder.
The notice has also been uploaded on the CRCS portal for public information.
