Submit papers, will consider licence then: Sawant to Tirumalla Tirupati

Panaji: Chief minister Pramod Sawant met with officials of the Tirumalla Tirupati Multistate cooperative Credit Society, where he directed them to submit their financial accounts, audit reports, and other compliance documents immediately to the Registrar of Cooperative Societies.

Sawant said govt will consider lifting the restrictions on the multi-state society only after scrutinising the documents.

“They came to meet me. I already told them to submit all papers and documents as per the queries raised by the registrar of cooperatives. Once they submit their papers, govt will then consider,” said Sawant.

The Registrar of Cooperative Societies (RCS), Panaji, abruptly withdrew the no objection certificate (NOC) granted to Tirumalla Tirupati Multistate Cooperative Credit Society Ltd, effectively freezing its expansion plan and operations in the state.

The society failed to submit audited financial statements as mandated under law, repeatedly ignored calls for statutory inspections, and ignored multiple notices issued by the regulator.

“The notice went to them in Oct 2025, then the issue got flagged in our state-level committee. I cannot say why they failed to comply, but I told them urgently to submit the documents and then govt will think. At the moment, I need to verify their papers,” said Sawant.

Minister for cooperation Subhash Shirodkar said notices were issued to Tirumalla Tirupati Multistate Co-op Credit Society in 2023, 2024, and 2025, but the society failed to respond.

“For depositors, if the society has money and assets, then they need not worry, but we need to find out first. I don’t know their financial status,” said Shirodkar.

Cancellation of the licence sparked unease among depositors who fear a repeat of the plight faced by depositors of the Mapusa Urban Cooperative Bank, Madgaum Urban Cooperative Bank, and some of the cooperative societies in Goa that went under.