A major financial scam involving Rs 24.69 crore has been confirmed in the Karveer Taluka Panchayat Samiti Employees’ Cooperative Credit Society, affecting deposits of Class III and IV employees.
Replying to a query by MLA Rajesh Kshirsagar, Maharashtra’s Cooperation Minister Babasaheb Patil stated that large-scale embezzlement had taken place. He confirmed that the 2023–24 statutory audit, conducted after persistent demands by members, revealed serious irregularities and suspected collusion with the society’s board.
To fix responsibility for the losses, proceedings under Section 88 of the Maharashtra Cooperative Societies Act, 1960 have been initiated. An authorised officer was appointed on October 28, 2025, and the inquiry is currently underway.
A case has been registered against 34 individuals at Laxmipuri Police Station. Of these, two are deceased, two are absconding, while 30 have secured interim bail from the Bombay High Court’s Kolhapur bench.
Earlier, an administrative committee was appointed in January 2025, replacing the board. Further action, including recovery of funds, will follow the probe outcome.