The Office of the Central Registrar of Cooperative Societies (CRCS) under the Ministry of Cooperation has initiated the process for winding up Sri Pragathi Multi-Purpose Multi State Cooperative Society Ltd., registered in Hyderabad under the Multi-State Cooperative Societies (MSCS) Act, 2002.
The action follows multiple complaints alleging fraudulent practices by the society, including deceiving small depositors and diverting collected funds to the AEGIS Group.
Acting on these complaints, the CRCS had directed the Registrar of Cooperative Societies, Telangana, to conduct an inspection under Section 108 of the MSCS Act. In its report dated December 12, 2025, the state registrar found that the society was not functioning at its registered address in Punjagutta, Hyderabad.
Instead, a different private entity was found operating at the location, which was also locked at the time of inspection. Attempts to contact the society’s office-bearers failed, with official correspondence returned undelivered.
Additionally, records show that the society has not filed mandatory annual returns since the financial year 2020–21, in violation of Section 120 of the Act.
Based on these findings, the CRCS has issued a public notice inviting objections, if any, within 15 days. Failing this, further action will be taken to formally wind up the society under the provisions of the MSCS Act, 2002.
