A screenshot of the notice
Nagpur: Nagpur:Central Registrar of Cooperative Societies has initiated the process for liquidation of Nirmal Ujjwal Credit Cooperative Society Ltd, following allegations of financial irregularities and diversion of funds of Rs 51.7 crore. Central Cooperative registrar Shivpal Singh on Friday issued the notice under Section 86 of Multi-State Cooperative Societies Act, 2002. On April 24, Central Registrar barred Nirmal Ujjwal Credit Society from accepting fresh deposits or renewing existing deposits. The society or any person having an objection to the proposed liquidation has been given 15 days from publication of the notice to submit their representation through crcs.gov.in.
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Earlier, following criminal writ proceedings before Nagpur bench of Bombay High Court and a criminal application before Supreme Court , a special investigation team was constituted under Maharashtra director general of police to probe the matter. Appeals filed by the society before the high court and ministry of cooperation against the restrictions were subsequently rejected.
51/2026), 11 directors and office-bearers of the society have been chargesheeted for alleged criminal conspiracy, cheating and breach of trust. However, despite repeated notices, the society allegedly failed to provide the auditors with documents relating to its assets, liabilities and other financial records between 2020 and 2025.
Substantial funds of the credit society were diverted to related/private entities, including PNG Corporation, Nirmal Food Products, Future Fuel, Nirmal Dairy and Nirmal Textile, allegedly bypassing prescribed rules and procedures, according to the EOW chargesheet. As per Central Registrar’s office and the chargesheet filed by Economic Offences Wing (EOW), Nagpur (in case no. The Central Registrar had received thousands of complaints from depositors in Nagpur, Chandrapur and Amravati regarding non-payment of matured fixed deposits and balances in savings accounts. A Mumbai-based chartered accountant firm, M/s R Devendra Kumar & Associates, had been appointed to conduct a forensic audit of the society’s functioning over the past five years. Central Registrar cited the society’s alleged non-cooperation with the forensic audit as a key ground for initiating liquidation proceedings.