Lok Sabha Question No. 2771 (UNSTARRED), answered on 2026-03-10
Subject: Multi State Cooperative Credit Societies
Ministry: COOPERATION
Asked by: Shri Bajrang Manohar Sonwane

## GOVERNMENT OF INDIA MINISTRY OF COOPERATION

## LOK SABHA UNSTARRED QUESTION NO 2771 TO BE ANSWERED ON 10 th  MARCH, 2026

## Multi state cooperative credit societies

## *2771 SHRI BAJRANG MANOHAR SONWANE:

Will the Minister of COOPERATION ( सहकारिता मंत्री ) be pleased to state:

- (a) whether it has come to the notice of the Government that Jijau, Gyanradha, Jijamata, Shubh Kalyan, Sairam, and Rajasthani Multi-State Co-operative Credit Societies in Beed and surrounding  areas  in  Maharashtra  have  not  refunded  crores  of  rupees  of  deposits  of thousands of depositors, leaving farmers, labourers, small businessmen and senior citizens in the situation of severe financial crisis;
- (b) if  so,  the  present  status  of  the  investigations  conducted  against  these  institutions, liquidation/dissolution proceedings and liquidators;
- (c) the amount of property seized so far and the amount refunded to depositors;
- (d) the criminal action taken against the guilty operators/officials;
- (e) the time-bound action plan of the Government for refunding the amount to the remaining depositors?

## ANSWER

## THE MINISTER OF COOPERATION सहकारिता मंत्री (SHRI AMIT SHAH)

(a) to (e): Cooperative Societies registered under the provisions of the Multi-State Cooperative Societies  (MSCS)  Act,  2002  function  as  autonomous  cooperative  organisations  and  are accountable  to  their  members.  MSCSs  function  as  per  the  provisions  of  Multi-State Cooperative Societies Act, 2002 and rules framed there under read with approved bye-laws of the Society which includes the role and powers of the member, Board, General Body of the Society  and  Central  Registrar  of  Cooperative  Societies  (CRCS).  As  per  the  provisions  of Section 49 of the MSCS Act, 2002, the business matters such as to admit members, to accept the deposits and refund to depositors etc., fall under the powers and functions of the board of the Society and the day to day management of the Society fall under the powers and functions of the Chief Executive of the Society as per the provisions of Section 52 of the MSCS Act, 2002.

Based  on  the  various  complaints  received  against  Jijau  Maa  Saheb  Multi  State Cooperative Credit Society Ltd., Dnyanaradha Multi State Cooperative Credit Society Ltd., Shubh  Kalyan  Multi  State  Cooperative  Credit  Society  Ltd.,  Shri  Sairam  Urban  Multistate

Cooperative Credit Society Ltd., and Rajasthani Multi State Cooperative Credit Society Ltd., the  Central  Registrar  of  Cooperative  Societies  has  requested  Registrar  of  Cooperative Societies, Government of Maharashtra to conduct the inspection u/s 108 of the Multi-State Cooperative Societies (MSCS) Act, 2002. Based on Inspection Reports, Notices were sent to these Societies for seeking objections to initiate winding up process under the provision of MSCS Act, 2002. No satisfactory reply was received from these Societies; therefore, winding up orders u/s 86 of the MSCS Act, 2002 were passed and liquidators were appointed under section 89 of MSCS Act, 2002 in these Societies.

The  Liquidator  has  to  liquidate  the  assets  of  Society  and  to  ensure  payment  to investors/members under the powers of the liquidator entrusted to him as per the provisions of Section 90 of the MSCS Act, 2002 and by adopting procedures as per Rule 28 and 29 of the MSCS Rules, 2002 in a time bound manner.

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