The Central Registrar of Cooperative Societies (CRCS) has initiated the process to wind up Shri Swami Vivekanand Multistate Cooperative Credit Society Ltd., Aurangabad (Regn. No. MSCS/CR/806/2013), for violating provisions of the Multi-State Cooperative Societies (MSCS) Act, 2002.
According to the notice issued by the Central Registrar, the Society changed its registered address and began operating in Madhya Pradesh with 129 branches without prior approval.
Despite being served a show-cause notice on August 10, 2020, and submitting a reply on October 9, 2020, the Society failed to provide satisfactory clarification. Consequently, the CRCS prohibited it from collecting deposits in Madhya Pradesh vide order dated November 16, 2020.
Further complaints regarding non-repayment of matured deposits and the abrupt shutdown of the Society’s online portal were received from multiple depositors in February 2025. Records also show that the Society failed to file its mandatory annual returns for FY 2022–23, 2023–24, and 2024–25.
The Maharashtra Registrar of Cooperative Societies, when requested to inspect the Society, reported that it was not functioning at its registered address, violating key provisions of the MSCS Act.
After examining all facts, the CRCS has decided to initiate the winding-up process. The notice invites objections, if any, within 15 days from its publication on the official website crcs.gov.in. If no response is received, the winding-up proceedings will be carried out as per the provisions of the Act.
