The Office of the Central Registrar of Cooperative Societies (CRCS) has issued final notices to 58 Multi-State Cooperative Societies (MSCS) for failing to file their statutory annual returns for two consecutive financial years-2023-24 and 2024-25.
The notice have been issued under Sections 120 and 120A of the Multi-State Co-operative Societies Act, 2002, as amended in 2023. The CRCS has directed the Chairman/Chief Executive Officer of the concerned societies to explain within 15 days why winding-up proceedings should not be initiated against them under the provisions of the MSCS Act and Rules.
The CRCS, in its notices, has pointed out that every registered multi-state cooperative society is required under Section 120 to file its comprehensive annual returns with the Central Registrar within six months from the close of each financial year.
The notices further highlight the electronic compliance requirements under Section 120A, under which societies are required to file prescribed information electronically through the CRCS portal. This includes financial, audit and operational records, declarations, details of General Body meetings and related-party transactions, among other statutory particulars.
According to the notices, the annual returns for FY 2023-24 were due by September 30, 2024, while those for FY 2024-25 were due by September 30, 2025. Following scrutiny of its records, the CRCS observed that the concerned societies had failed to file the required returns for both financial years.
The final notices also direct the societies to upload the pending annual returns for 2023-24 and 2024-25 through their authorised login credentials on the CRCS portal and submit a physical copy of their reply to the CRCS office.
The CRCS has made it clear that failure to submit an explanation within the stipulated 15-day period would lead to the presumption that the society has nothing to say in the matter, following which further action, as deemed fit, may be initiated.
The notices issued to individual societies follow a largely common regulatory format, with the name and address of each society and its specific compliance status incorporated separately.
The action is significant in the context of the 2023 amendments to the MSCS Act, which strengthened the statutory and electronic compliance framework applicable to multi-state cooperative societies.
