Question : Ease of Doing Business

(a) whether the Ministry has been entrusted with the responsibility to streamline processes for ‘Ease of doing business’ for cooperatives and enable development of Multi-State Cooperatives in the country and if so, the details thereof;
(b) whether the Ministry is aware of the problem of pseudo cooperative financial companies launched by some big corporate houses to siphoning public money from commercial venture to cooperative society;
(c) if so, the reaction of the Government thereto;
(d) whether the Government has been informed by the Serious Fraud Investigation Office (SFIO) regarding investment of any such Group which is being converted into other schemes like cooperative or other multipurpose societies of the same group; and
(e) if so, the status of investigation and action taken by the Government thereon?

Minister of COOPERATION
???????? ?????? (SHRI AMIT SHAH)

(a) to (e): A statement is laid on the Table of the House.

STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (e) OF LOK SABHA STARRED QUESTION NO. 305 DUE FOR REPLY ON 10th AUGUST, 2021

(a): The Ministry of Cooperation has been allocated work as per Government of India (Allocation of Business) Rules, 1961 as shown in Annexure – I.
(b) & (c): The cooperative societies registered under the Multi State Cooperative Societies (MSCS) Act, 2002 are functioning as autonomous cooperative organizations accountable to their members. In case of complaints against any multi – State cooperative society, action is taken as per the provisions of MSCS Act, 2002, including winding up and initiation of liquidation proceedings.
(d) & (e): Serious Fraud Investigation Office (SFIO) has sent reports to the Ministry regarding companies and their promoters who alsohave substantial interest in cooperative societies registered under MSCS Act, 2002. Action on reports of SFIO is taken under Multi State Cooperative Societies Act, 2002 and/or The Companies Act, 2013. The Investigation by SFIO is at different stages.