Immediate Action Must Be Taken in Gyanradha Multi-State Financial Scam: CM Devendra Fadnavis

Orders Investigation into All Multi-State Cooperative Credit Societies in Beed

Mumbai – Maharashtra Chief Minister Devendra Fadnavis has directed immediate action against those involved in the Gyanradha Multi-State Cooperative Credit Society scam in Beed district. Stressing the need to deliver justice to depositors, he also ordered the swift seizure of the society’s remaining 238 properties.

A high-level meeting was held at the state legislature to review the financial fraud, where it was revealed that the society had duped depositors by luring them with attractive interest rates ranging from 10% to 18% on fixed deposits, savings, and recurring deposit schemes.

Chief Minister Fadnavis instructed the concerned police and special investigation teams to accelerate the probe. He emphasized that urgent relief must be provided to common and poor depositors who have suffered financial losses. He also demanded immediate action against the 19 accused in the case and called for a special drive to confiscate the society’s assets under the supervision of the Registrar of Multi-State Cooperative Societies.

Prominent attendees at the meeting included Environment and Climate Change Minister Pankaja Munde, Marketing Minister Jaykumar Rawal, Social Welfare Minister Atul Save, Ministers of State Dr. Pankaj Bhoyar and Meghna Sakore-Bordikar, MLAs Prakash Solanke, Arjun Khotkar, Suresh Dhas, Santosh Danve, Subhash Deshmukh, and Vijaysingh Pandit. Senior officials such as Additional Police Superintendent Kiran Patil, Deputy Superintendent Shashikant Sawant, Additional Chief Secretary Iqbal Singh Chahal, and Cooperative Commissioner were also present.

The Chief Minister further ordered a comprehensive review of all multi-state cooperative societies operating in Beed district, with a consolidated report to be submitted by the relevant departments. Fadnavis assured that strict and timely decisions would be taken in all such cases to ensure justice for the defrauded depositors.