India, July 31 -- The Government of India has issued a release:
Cooperative Societies registered under the provisions of the Multi-State Cooperative Societies (MSCS) Act, 2002, function as autonomous cooperative organisations and are accountable to their members.
The MSCS Act, 2002 provides for provisions related to inquiry, inspection, winding up of societies, appointment of liquidators, offences, penalties and cognizance of offences. Whenever a complaint discloses the commission of cognizable offences such as fraud, cheating or criminal breach of trust under the applicable laws, the matter is referred to the concerned State Police, Economic Offences Wing (EOW), Central Bureau of Investigation (CBI) or other competent investigating agenc...