The Central Registrar of Cooperative Societies (CRCS) has initiated the winding-up process against Senapati Bapat Multi State Cooperative Credit Society Ltd., Parner, Maharashtra, citing multiple regulatory violations, non-compliance with official orders, and concerns raised by depositors.
According to a notice issued by the Ministry of Cooperation, the society failed to comply with an order passed by the Cooperative Ombudsman on June 4, 2025, directing it to repay a depositor’s dues. The society neither honoured the order nor filed an appeal before the Central Registrar.
The CRCS also noted that no authorized representative of the society appeared during three hearings conducted via video conference on October 16 and November 27, 2025, and February 24, 2026, despite official notices.
Further, the society allegedly failed to submit mandatory annual returns for FY 2024-25 under Section 120 of the Multi-State Cooperative Societies Act, 2002.
Adding to the concerns, the Registrar of Cooperative Societies, Maharashtra, informed the CRCS that the tenure of the society’s board had expired and that depositors had lodged an FIR against its directors at Parner Police Station in June 2025.
The CRCS has given the society 15 days to file objections, failing which further action will be taken for its winding up under the provisions of the MSCS Act, 2002.