A new standard operating procedure (SOP) for liquidating Primary Agriculture Cooperative Societies (PACS) and Large Area Multipurpose Societies (LAMPS) mandates that liquidators must complete the process within 15 days after taking custody of the properties, records, and documents.
Released by Union Cooperatives Minister Amit Shah, the SOP also requires state officials to identify defunct PACS within seven days. The goal is to liquidate defunct societies by March 31, 2025, and replace them with new functional ones.
India currently has about 65,000 functional PACS, with plans to set up 200,000 new ones in the coming years.
