The Central Registrar of Cooperative Societies (CRCS) has dismissed an appeal filed by Latur Multi State Cooperative Credit Society Ltd., Maharashtra, and upheld an order directing it to repay dues against a fixed deposit held by Rajlaxmi Multi State Credit Cooperative Society Ltd., Yavatmal.
The order, dated September 22, 2026, was passed by Shiv Pal Singh, Appellate Authority and CRCS, under Section 85A(3) of the Multi-State Cooperative Societies Act, 2002.
The Cooperative Ombudsman had earlier directed Latur Society to pay the amount due on the fixed deposit along with applicable up-to-date interest within 30 days.
Latur Society claimed that Rajlaxmi had invested Rs 12 crore, with a maturity value of Rs 15.81 crore, and that Rs 2.92 crore had already been paid, leaving Rs 2.89 crore outstanding. It argued that the balance was linked to a property-related settlement.
However, CRCS noted that the Society failed to produce any agreement, contract, deposit receipt or other contemporaneous documentary evidence supporting the claimed arrangement.
The appeal was consequently dismissed and the Ombudsman’s order upheld.
