Nagpur: The Nagpur Bench of the Bombay High Court has ordered the Central Bureau of Investigation (CBI) to take over the probe into the alleged multi-crore financial scam in the Nirmal Co-operative Society, calling a fair investigation “essential for protecting the interests of thousands of depositors.”
The division bench of Justice Anil Pansare and Justice Raj Wakhode noted that the society’s fragile financial condition and the scale of suspected irregularities required an independent agency.
Nanda Bante, the General Manager of Nirmal Co-operative Society, had filed a petition alleging that the State Government and Police were acting under “political pressure” and seeking unnecessary records despite earlier inquiries showing no irregularities.
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05 Jan 2026
She also sought quashing of a 29 June 2023 letter issued by the Police Commissioner, which flagged large-scale financial discrepancies and recommended action under the MPID Act, Indian Penal Code, and Multi-State Co-operative Societies Act, 2002.
During previous hearings, the court was informed that the society is in a severely weakened financial state and could soon collapse, endangering deposits of thousands of members. The Police Commissioner’s report pointed to “crores of rupees in irregularities,” yet no concrete action followed.
Taking note of this, the court had asked the Central Registrar of Co-operative Societies to provide a detailed response.
Court Shocked by Police Inaction
In his affidavit, the Registrar clarified that no sanction or permission is required to register an FIR in such cases. The High Court expressed surprise that, despite this legal clarity, the police had taken no steps.
The bench remarked:
“If the law does not require permission, why was no action initiated?”
CBI to Take Over Investigation
Given the seriousness of the allegations and the risk to depositors’ funds, the High Court on Thursday directed the CBI to register an FIR and conduct a free, fair, and transparent investigation at the earliest.
The court, however, declined the request to appoint an administrator for the society, saying the matter must be taken to the appropriate forum.
• For the Central Registrar: Senior Counsel Firdos Mirza, Adv. Nirja Chaubey
• For the State: Adv. Sanjay Doiphode
• For the Petitioner: Adv. Bhushan Daphele
The alleged financial misconduct at Nirmal Co-operative has once again raised concerns over accountability and transparency in cooperative institutions. With the High Court’s stern remarks and CBI now stepping in, depositors will be watching every development closely.
