Another multi-state credit cooperative society from Beed district of Maharashtra has been dissolved by the Central Registrar of Cooperative Societies Rabindra Kumar Agarwal. The society name is Rajasthani Multi-State Cooperative Credit Society.
The order for winding up the society was issued under Section 86 of the Multi-State Cooperative Societies Act, 2002. Additionally, the Assistant Registrar, Cooperative Societies, Shirur Kasar, District Beed, has been appointed as the liquidator under Section 89(1) of the Act.
On 27th December 2023, the Reserve Bank of India’s Regional Office in Mumbai forwarded a complaint dated 11th December 2023, filed by Ramrao Kodiba Gade, alleging non-payment of his deposits by the society.
The Central Registrar’s office attempted to forward the matter to the society on 4th January 2024, but the letter was returned undelivered with the remark “closed.” In addition, the society failed to submit its mandatory annual returns for the financial year 2022–23 under Section 120 of the Act.
The Commissioner for Cooperation and Registrar of Cooperative Societies, Government of Maharashtra, was requested to conduct an inspection under Section 108 of the Act. In the report submitted on 10th January 2025, it was revealed that the head office of the society had been sealed by the police, and the Board of Directors was unable to refund depositors’ money.
The directors were found to be negligent in the performance of their duties, and the report recommended the appointment of an administrator or liquidator. A final notice dated 11th February 2025 was uploaded on the official website seeking objections, if any, to the proposed winding-up. However, no reply or objection was received from the society within the stipulated 15-day period.
Following a recommendation from the Maharashtra State Registrar, the Central Registrar officially dissolved the society and appointed the Assistant Registrar, Shirur Kasar, Beed, as the liquidator.
The liquidator has been directed to take necessary actions as per the provisions of the Act and to submit quarterly status reports on the progress of the liquidation to the Central Registrar’s office. The order was issued under the seal and signature of the Central Registrar on 16th May 2025.
Earlier, the CRCS had dissolved the Beed-based Shri Sairam Urban Multi-State Cooperative Credit Society, Dnyanradha Multi-State Cooperative Society, and others.
