Mumbai based Pushpanjali Cooperative Credit Society is in the spotlight after Bhoiwada police booked seven individuals, including its former chairman and secretary, for allegedly approving loans worth Rs 1.74 crore to fictitious borrowers.
A detailed audit revealed the loans were never repaid, causing major financial losses. The complaint was filed by Suresh Kashid, a government-certified auditor who served as CEO of Pushpanjali since 1990 and later audited its accounts post-retirement.
While auditing Konkan Vikas Cooperative Credit Society for FY 2023–24, Kashid and his team uncovered discrepancies in Pushpanjali’s financial records dating from November 2015 to March 2020. Investigations are ongoing.
