In a significant relief to depositors, the Cooperative Ombudsman has directed Thushara Multistate Agro & Marketing Cooperative Society, Thrissur, to refund the matured deposit amount along with applicable interest to a complainant, Ayyappan T, within 30 days.
The order was passed by Cooperative Ombudsman Alok Agarwal in a complaint filed by Shri Ayyappan T, who had invested Rs 2 lakh with the society under Deposit No. CB0065 on 4 July 2024. The deposit matured on 4 July 2025, but despite repeated requests and follow-ups, the society neither refunded the maturity proceeds nor responded to the depositor.
The Ombudsman noted that after the complaint was received on 2 September 2025, a formal notice was issued to the society on 3 October 2025 seeking its response. However, the respondent society failed to submit any reply.
The complainant later informed the Ombudsman that the society had unilaterally renewed his deposit till 20 November 2025 without his consent. Even after the expiry of this extended period, the society did not refund the amount.
After examining the records, the Ombudsman observed that the society not only failed to repay the deposit on maturity but also extended the deposit on its own, in violation of depositor rights. The order further recorded that the society had ignored notices from the Ombudsman’s office and had also failed to comply with directions issued in another similar case, indicating a lack of intent to return deposits to members.
Taking serious note of these facts and to safeguard the interests of depositors, the Ombudsman exercised powers under the Multi-State Cooperative Societies (MSCS) Act, 2002, and directed the society to pay the full deposit amount along with up-to-date interest within 30 days from the date of the order.
The society has also been instructed to submit a compliance report immediately after making the payment.