Latest News | Govt Orders Winding Up of 44 Multi-state Credit Cooperative Societies in 9 States, UTs: Shah

New Delhi, Dec 7 (PTI) The government has taken action for winding up of 44 multi-state credit cooperative societies in nine states and union territories, Union Cooperation Minister Amit Shah informed Parliament on Tuesday.

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Shah, in a written reply to the Lok Sabha, said, "Complaints have been received for non-repayment of funds against some of the multi-State credit cooperative societies."

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In case of delinquent societies, action for winding up is taken under Section 86 of the Multi State Cooperative Societies (MSCS) Act, 2002, he said.

The minister said the action has been taken for the winding up of 44 multi-state credit cooperative societies as per the MSCS Act.

Among these, the action has been taken for winding up of Adarsh Credit Cooperative Society in Gujarat, Silver Finance and Credit Cooperative Society in Chandigarh and Rainbow Multi State Credit Cooperative Society in Jharkhand.

The winding up action has been taken against 10 cooperative societies in Odisha, nine in Maharashtra, eight in Rajasthan, seven in New Delhi, four in Uttar Pradesh and three in West Bengal, showed the data placed by the minister in the Lower House.

Responding to another query, Shah said the government is formulating a scheme for computerization of Primary Agricultural Credit Societies (PACS) in consultation with various stakeholders, including NABARD and state governments.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)