Lok Sabha Question No. 99 (STARRED), answered on 2022-02-08
Subject: Multi-Purpose Cooperative Societies
Ministry: COOPERATION
Asked by: Hanuman Beniwal

## GOVERNMENT OF INDIA MINISTRY OF COOPERATION

## LOK SABHA STARRED QUESTION NO. 99

TO BE ANSWERED ON 8 TH  FEBRUARY 2022

## MULTI-PURPOSE COOPERATIVE SOCIETIES

- *99. SHRI HANUMAN BENIWAL:

Will the Minister of COOPERATION सहकारता मंी be pleased to state:

- (a) whether the Government is aware that multi-purpose cooperative societies set up in  various  Statesof  the  country,  including  Rajasthan  have  mis-appropriated  crores  of rupees of investors; (b) if  so,  the  number  of  such  cases  which  have  cometo  the  notice  of  the Government; (c) the amount of money mis-approriated by the said societies alongwith the number of investors who lost their money in the process, society-wise; and the steps taken by the Government in this regard to safeguard the interest of the

## ANSWER

MINISTER OF COOPERATION सहकारता मंी (SHRI  AMIT SHAH)

- (a) to (d): A statement is laid on the Table of the House.
- (d) investors?

O.I.H.

## STATEMENT  REFERRED  TO  IN  REPLY  TO  PARTS  (a)  TO  (d)  OF  LOK  SABHA STARRED QUESTION NO. 99 DUE FOR REPLY ON 8 TH  FEBRUARY, 2022

(a) to (d) Yes sir. A large number of complaints have been received for non-repayment / misappropriation  of  deposits  of  investors  against  some  of  the  multi-state  cooperative societies  in  various  states  of  the  Country,  including  Rajasthan.  In  case  of  delinquent societies against whom complaints are received, action for winding up is taken under Section  86  of  the  Multi-State  Cooperative  Societies  (MSCS)  Act,  2002.    Presently winding  up  proceedings  is  underway  in  case  of  77  societies,  a  list  of  which  is  at Annexure A. Complete details regarding the amount of money misappropriated by the societies, along with the numbers of members who lost their money is not available.

Annexure-A List  of  multi-State  cooperative  societies  against  whom  liquidation  proceedings

## are under way under Section 86 of the MSCS Act, 2002:

|   Sl. No. | Name of the society                                                                    | State          |
|-----------|----------------------------------------------------------------------------------------|----------------|
|         1 | Jatropha Growers & Bio-Fuel Development Cooperative Ltd., Hyderabad, Andhra Pradesh    | Andhra Pradesh |
|         2 | The Regional Resource Development Cooperative Society Ltd., Vijayawada, Andhra Pradesh | Andhra Pradesh |
|         3 | South Indian Fisherman Coop. Society Ltd., Vishakapatnam, A.P.                         | Andhra Pradesh |
|         4 | Grahak Bazar Cooperative Society Ltd., Hyderabad, Andhra Pradesh                       | Andhra Pradesh |
|         5 | Tourism Development Coop. India Ltd., Jangpura, New Delhi                              | Delhi          |
|         6 | Jyoti Credit & Savings SwablambiSahakariSamiti Ltd., Mathura Road, New Delhi           | Delhi          |
|         7 | Skylark Multi-State Cooperative Group Housing Society Ltd., PaschimVihar, New Delhi    | Delhi          |
|         8 | Crown Credit Coopertaive Society Ltd., Dwarka, Delhi                                   | Delhi          |
|         9 | Success Valley Credit Cooperative Society Ltd., Shakarpur, Delhi                       | Delhi          |
|        10 | Cooperative Store Ltd., Super Bazar, New Delhi                                         | Delhi          |
|        11 | HBN Credit Cooperative Society Ltd., PashimVihar, New Delhi                            | Delhi          |
|        12 | LokhitBharti Credit Cooperative Society Ltd., ShivajiMarg, New Delhi                   | Delhi          |
|        13 | Aadi Credit Cooperative Society Ltd., New Delhi                                        | Delhi          |
|        14 | Eye Vision India Credit Cooperative Society Ltd., New                                  | Delhi          |

|    | Delhi                                                                                       |             |
|----|---------------------------------------------------------------------------------------------|-------------|
| 15 | Mapusa Urban Cooperative Bank of Goa Ltd., Goa                                              | Goa         |
| 16 | Gujarat Industrial Cooperative Bank Limited, Ahmedabad                                      | Gujarat     |
| 17 | Madhavpura Mercantile Cooperative Bank Limited, Ahmedabad                                   | Gujarat     |
| 18 | Petrofils Cooperative Ltd. Vadodara, Gujarat                                                | Gujarat     |
| 19 | Adarsh Credit Cooperative Society Ltd., Ahmedabad, Gujarat                                  | Gujarat     |
| 20 | Rainbow Multi State Credit Cooperative Society ltd., Dhanbad, Jharkhand                     | Jharkhand   |
| 21 | Memon Cooperative Bank Limited, Mumbai                                                      | Maharashtra |
| 22 | Apex Urban Cooperative Bank of Maharashtra and Goa Limited, Mumbai                          | Maharashtra |
| 23 | The Pfizer Employees Co-operative Credit Society Limited, Mumbai, Maharashtra               | Maharashtra |
| 24 | BhandaraLaxmi Multi State Credit Co-operative Society Limited, Bhandara, Maharashtra        | Maharashtra |
| 25 | DaulatShetkariSakharKarkhana Ltd., Kolhapur, Maharashtra                                    | Maharashtra |
| 26 | ShriMahalaxmi Multi State Coop. Credit Society Ltd., Mumbai, Maharashtra                    | Maharashtra |
| 27 | Shree Dhokeshwar Multi State Urban Cooperative Credit Society Ltd., Ahmednagar, Maharashtra | Maharashtra |
| 28 | ShubhKalyan Multi State Cooperative Credit Society ltd., Osmanabad, Maharashtra             | Maharashtra |
| 29 | Kolpe-Patil Multi State Cooperative Credit Society Ltd., Pune, Maharashtra                  | Maharashtra |
| 30 | S.P. Global Multipurpose Cooperative Society ltd., Pune, Maharashtra                        | Maharashtra |

|   31. | Shrinath Multi State Urban Cooperative Credit Society Ltd., Ahmednagar, Maharashtra                                           | Maharashtra   |
|-------|-------------------------------------------------------------------------------------------------------------------------------|---------------|
|    32 | AdityaAarthikNiyojan Multi State Cooperative Credit Society Ltd., Pune, Maharashtra                                           | Maharashtra   |
|    33 | SamruddhaJeevan Multi State Multi-Purpose Cooperative Society ltd., Pune, Maharashtra                                         | Maharashtra   |
|    34 | BhaichandHirachandRaisoni Multi State Cooperative Credit Society Ltd., Jalgaon, Maharashtra                                   | Maharashtra   |
|    35 | Malaika Multi State Cooperative Credit Society Ltd., Malaika Estate, RajeShivaji Nagar, Sakivihar Road, Pawai, Mumbai- 400042 | Maharashtra   |
|    36 | Arthatatwa Multi State Credit Coop. Society Ltd., Bhubaneswar, Odisha                                                         | Odisha        |
|    37 | Swastik India Multi State Credit Cooperative Society ltd., Bhubaneswar, Odisha                                                | Odisha        |
|    38 | Mideast Multi State Credit Cooperative Society Ltd., Bhubaneswar, Odisha                                                      | Odisha        |
|    39 | Utkal Multi State Credit Cooperative Society Ltd., Bhubaneshwar, Odisha                                                       | Odisha        |
|    40 | Sai Kishore Multi State Credit Cooperative Society Ltd., Bhubaneswar, Odisha                                                  | Odisha        |
|    41 | Rajiv Gandhi Memorial Multi-State Credit Cooperative Society Ltd., Bhubaneswar, Odisha                                        | Odisha        |
|    42 | SLB Multistate Credit Cooperative Society Ltd., Bhubaneshwar, Odisha                                                          | Odisha        |
|    43 | Vista Credit Cooperative Society Ltd., Bhubaneshwar, Odisha                                                                   | Odisha        |
|    44 | Sunray Multi State Multi-Purpose Cooperative Society ltd., Balasore, Odisha                                                   | Odisha        |

|   45. | Micro Finance Credit Cooperative Society Ltd., Bhubaneswar, Odisha                 | Odisha     |
|-------|------------------------------------------------------------------------------------|------------|
|    46 | Green India Multi State Members Credit Cooperative Society Ltd., Ganjam, Odisha    | Odisha     |
|    47 | Lakshya Multipurpose Cooperative Society ltd., Bathinda, Punjab                    | Punjab     |
|    48 | Bhavishya Credit Cooperative Society Ltd., Udaipur, Rajasthan                      | Rajasthan  |
|    49 | Apeshwar Credit Cooperative Society Ltd., Sirohi, Rajasthan                        | Rajasthan  |
|    50 | ARGOSY Credit Cooperative Society Ltd., Sirohi, Rajasthan                          | Rajasthan  |
|    51 | ShriKhoteshwar Urban Credit Cooperative Society Ltd., Sirohi, Rajasthan            | Rajasthan  |
|    52 | Marwar Urban Credit Cooperative Society Ltd., Barmer, Rajasthan                    | Rajasthan  |
|    53 | Arbuda Credit Cooperative Society Ltd., Sirohi, Rajasthan                          | Rajasthan  |
|    54 | Power Build Home Credit Cooperative Society Ltd., Jodhpur, Rajasthan               | Rajasthan  |
|    55 | Sahyog Credit Cooperative Society Ltd., Sirohi, Rajasthan                          | Rajasthan  |
|    56 | Sundaram Credit Cooperative Society Ltd., Sirohi, Rajasthan                        | Rajasthan  |
|    57 | Bharti Credit Cooperative Society Ltd., Ajmer, Rajasthan                           | Rajasthan  |
|    58 | Sanjivani Credit Cooperative Society Ltd., Barmer, Rajasthan                       | Rajasthan  |
|    59 | Prompt Multi State Cooperative House Building Society Ltd., Coimbatore, Tamil Nadu | Tamil Nadu |
|    60 | ICICI Bank Staff Cooperative Thrift & Credit Society Ltd., Madurai, Tamil Nadu     | Tamil Nadu |

|   61. | The Happy Future Multipurpose Cooperative Society Ltd., Chennai, Tamil Nadu               | Tamil Nadu         |
|-------|-------------------------------------------------------------------------------------------|--------------------|
|    62 | Imayam Multi State Housing Co-operative Society Limited Chennai, Tamil Nadu               | Tamil Nadu         |
|    63 | Silver Finance & Credit Cooperative Society Ltd., U.T. of Chandigarh                      | U.T. of Chandigarh |
|    64 | Janlaxmi Multipurpose Cooperative Society Ltd., Aligarh, Uttar Pradesh                    | Uttar Pradesh      |
|    65 | Anant-Nidhi Credit Cooperative Society Limited, Lucknow, Uttar Pradesh                    | Uttar Pradesh      |
|    66 | Gab GramyaVikas Credit Cooperative Society Ltd., Lucknow, Uttar Pradesh                   | Uttar Pradesh      |
|    67 | Uttar Bharat Urban Cooperative Bank Federation ltd., Lucknow, Uttar Pradesh               | Uttar Pradesh      |
|    68 | National Farmers' Cooperative Ltd., Ghaziabad, Uttar Pradesh                              | Uttar Pradesh      |
|    69 | Evergreen Agro Multi State Co-operative Society Limited, Noida, Uttar Pradesh             | Uttar Pradesh      |
|    70 | Uttar Pradesh Cooperative Construction and Development Ltd., Lucknow, Uttar Pradesh       | Uttar Pradesh      |
|    71 | Prithivi Credit Cooperative Society Ltd., Lucknow, Uttar Pradesh                          | Uttar Pradesh      |
|    72 | Capital Credit Cooperative Multi State Society Ltd., Firozabad, Uttar Pradesh             | Uttar Pradesh      |
|    73 | Chakra MS Credit Cooperative Society Ltd., Kolkata, West Bengal                           | West Bengal        |
|    74 | Misal Multipurpose Cooperative Society Ltd., Kolkata, West Bengal                         | West Bengal        |
|    75 | Sovereign Multipurpose Cooperative Society Ltd , 24 Parganas (North) Kolkata, West Bengal | West Bengal        |

|   76. | Rage Multi State Credit Cooperative Society Ltd., North 24 Parganas, West Bengal   | West Bengal   |
|-------|------------------------------------------------------------------------------------|---------------|
|    77 | Universal Multi State Credit Cooperative Society Ltd., Kolkata, West Bengal        | West Bengal   |

*****