Chief Minister Pramod Sawant on Wednesday directed rep resentatives of the Tiru malla Tirupati Multistate Co-operative Credit Society to strictly comply with all regulatory requirements and submit pending audits and reports, making it clear that the government would take no decision on revoca tion of NOC until full com pliance is achieved. The Chief Minister’s intervention came a day after the Office of the Registrar of Cooperative Societies (RCS), Panjim, withdrew and cancelled with immediate effect the permissions and No Objection Certificates (NOCs) granted to the society to operate 13 branches across Goa. The abrupt regulatory action triggered panic among de positors, with anxious crowds thronging several branches to withdraw their money. Sawant said the society’s representatives met him on Wednesday and were categorically instructed to adhere to all conditions listed in the RCS notice. “Only after the reports are submitted and all statutory requirements are complied with will the government take a decision on the matter,” he said. Three representatives of the society, including Prakash Arjun Velip, met the Chief Minister twice following the RCS decision. Meanwhile, scenes of anxiety unfolded outside multiple branches, particularly in Aldona and Canacona, where long queues of depositors sought clarity on the safety of their savings. Similar panic was reported in other areas as ac count holders rushed to withdraw funds amid uncertainty. In a parallel move, the Tirumalla Tirupati Multistate Co-operative Credit Society has written to the Registrar of Cooperative Societies seeking withdrawal of the show cause notice and revocation of the suspension of its per missions and NOCs. In a letter dated February 4, 2026, Panjim branch rep resentative Diptesh Sawant apologised for the failure to submit mandatory documents and assured the RCS that all required records would be furnished within stipulated timelines. The society also requested that documents al ready submitted be accepted for inspection. However, RCS and Ex-Officio Additional Secretary (Coop eration) Ashutosh R Apte defended the regulatory action, stating that permissions and NOCs had been withdrawn due to serious and repeated non-compliance. He said the society failed to submit audited financial statements as mandated by law, showed a lack of cooperation during statutory inspections and verification processes, did not respond to the show-cause notice, and failed to appear be fore the RCS despite due service of notices. The issue has drawn sharp public attention, with thou sands of depositors now awaiting clarity on the future of the society.
Relief only after full compliance: CM
