The Central Registrar of Cooperative Societies (CRCS) Anand Kumar Jha issued an order for winding up of Jaisalmer (Rajasthan) based Mohan Kripa Credit Cooperative Society and appointed a liquidator.
The CRCS appointed Deputy Registrar, Cooperative Societies, Jaisalmer, Office of the Registrar of Cooperative Societies, Government of Rajasthan as the Liquidator of the Society under the provisions of Section 89 (1) of the Act until further orders with the direction to take further necessary action as per the provisions of Act & rules made thereunder.
The order, which was released some time ago, reads, “the Liquidator shall finalize the liquidation proceedings to wind up the Society and shall also submit the status report showing the progress made in liquidation of the Society to this office on a quarterly basis”, it said.
It further reads, “The Registrar of Cooperative Societies, Government of Rajasthan submitted an inspection report of Society conducted u/s 108 of Multi- State Cooperative Societies Act, 2002 and reported that no office of the Society was found functional at its registered address and recommended for its winding up”, it noted.
“Whereas, the Society has not submitted its mandatory annual returns required to submit u/s 120 of the Act to this office. Whereas, the Show Cause Notice dated 17.10.2023 followed by the subsequent reminder dated 25.01.2024 were issued to the Chairman/Chief Executive of Society for explanation, but the envelopes containing the notices returned undelivered with remarks ‘Left without notice”, the order copy said.
It is said that society is not functioning at its registered address as per the provisions of the Act, Rules and its approved bye-laws and accordingly, it has been decided to initiate the winding up process of the Society under the provisions of the MSCS Act, 2002 and Rules made thereunder.
Accordingly, a Notice dated 02.04.2024 before initiating the winding up process of the Society was issued for seeking objection for the same. The Notice was also uploaded on Official Website i.e. crcs.gov.in, but no reply was received from the Society in this regard in this Office, according to the order copy.
It bears recalling that the Mohan Kripa Credit Cooperative Society cheated thousands of investors of their hard earned crores of rupees. It was established in 2011 and Ramachandra Singh is the chief promoter.
