The Central Registrar of Cooperative Societies Rabindra Kumar Agarwal, has ordered the winding up of Jijau Maa Saheb Multi-State Cooperative Credit Society Ltd., Beed, Maharashtra, over alleged financial fraud amounting to Rs 160 crore.
The decision follows serious allegations of misappropriation by the Society’s Chairperson Smt. Anita Baban Shinde and others, who have reportedly absconded.
Despite repeated notices and reminders since August 2023, the Society failed to respond. The audit report for FY 2021–22 revealed multiple violations of the Multi-State Cooperative Societies (MSCS) Act, 2002, including Section 67. The Maharashtra Registrar’s inspection confirmed the misappropriation of investments and seizure of records by police.
As no objections were received even after a final public notice issued in February 2025, the Centre has now appointed the Assistant Registrar, Cooperative Societies, Majalgaon, Dist. Beed, as the liquidator under Section 89(1) of the MSCS Act. The liquidator has been directed to carry out the liquidation process as per the law and submit quarterly progress reports.