India, Sept. 19 -- In a major push to recover money locked up in 469 financially distressed cooperative credit societies, the Maharashtra government has ordered the setting up task forces, or taluka-level committees, to fast track the attachment and auction of properties belonging to directors, officials and members held responsible for financial losses and loan defaults.

The move comes after authorities reported difficulties in taking possession of properties and putting them up for auction, even after liability was fixed against around 1,949 directors, officials and employees under section 88 of the Maharashtra Cooperative Societies Act, 1960.

The government has now brought the revenue, cooperation and home departments into a coordina...