Thousands of cooperative societies and institutions from the Satara district in Maharashtra have missed the August 31 deadline for submission of audit reports, reports Times of India.
Earlier the state cooperation department had cancelled registrations of scores of societies. Cooperative officials have warned cooperative societies that do not submit their audit reports on time will face de-registration.
There are 4,000 cooperative societies in Satara district of which around 2,500 have submitted their audit reports.
There are 3,571 cooperative societies which had been in liquidation for almost three years and no action was taken against them. In all, 22 cooperative societies were shut down for over 10 years, but managed to escape legal action.