Liquidator appointed for winding up of Adarsh Credit Coop Society: Shah

Various irregularities have been reported in the functioning of Ahmedabad-based Adarsh Credit Cooperative Society and a liquidator has been appointed for winding up of the Society, Cooperation Minister Amit Shah on Wednesday informed Parliament.

In his written reply to a query to the Rajya Sabha, Shah said various irregularities including embezzlement, siphoning and diversion of funds have been reported by multiple law enforcing agencies in the functioning of Adarsh Credit Cooperative Society Ltd.

''Accordingly, a liquidator has been appointed for winding up of the Society,'' he said.

Shah further said complaints have been received for the non-repayment of funds against some of the multi-state credit cooperative societies.

In the case of delinquent societies, action for winding up of 44 multi-state credit cooperative societies has been taken so far under Section 86 of the Multi State Cooperative Societies (MSCS) Act, 2002, he added.

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