Maha Co-op Societies: Liquidators Appointed

New Delhi, Aug 19 (PTI) Cooperation Minister Amit Shah on Tuesday said that liquidators have been appointed to liquidate the assets of four multi-state cooperative societies in Maharashtra — Jijau, Dnyanradha, Shubh Kalyan and Rajasthani — to ensure payment to members in a time-bound manner.

In a written reply to the Lok Sabha, Shah said the four societies — Jijau Maa Saheb Multi State Cooperative Credit Society Ltd, Dnyanradha Multi State Cooperative Credit Society Ltd, Shubh Kalyan Multi State Cooperative Credit Society Ltd, and Rajasthani Multi State Cooperative Credit Society Ltd — are not specified multi-state cooperative societies and "administrators" cannot be appointed under Section 123 of the Multi-State Cooperative Societies Act, 2002.

Based on various complaints received against these four cooperatives, the Central Registrar of Cooperative Societies requested the Registrar of Cooperative Societies, Government of Maharashtra, to conduct inspections under the Multi-State Cooperative Societies (MSCS) Act, 2002.


Following the inspection reports, notices were sent to these societies seeking objections to initiate the winding up process under the MSCS Act, 2002.

"No satisfactory reply was received from these societies; therefore, winding up orders under Section 86 of the MSCS Act, 2002 were passed and liquidators were appointed under Section 89 of MSCS Act, 2002," Shah said.

The minister added that to safeguard the rights of depositors and members of multi-state cooperative societies, several provisions have been introduced through the Multi-State Cooperative Societies (MSCS) (Amendment) Act & Rules, 2023.