The Human Welfare Credit & Thrift Co-operative Society is involved in a major investment scam, with over 200 crore INR reported in fraudulent deposits across Haryana, Bihar, and other states. In March 2025, the central government ordered the winding up of the society and initiated liquidation proceedings to return investor funds. Several agents and key officials, including the Panipat branch head, have been arrested as complaints continue to rise.
Key Developments (2025-2026):
- Winding Up & Liquidation: On March 25, 2025, the Central Registrar of Cooperative Societies ordered the winding up of the society. The District Magistrate of East Delhi was appointed as the liquidator to manage the dissolution and refund process.
- Massive Fraud: The society is accused of cheating thousands of depositors through fraudulent Fixed Deposit (FD) and Recurring Deposit (RD) schemes promising high returns, while operating without valid licenses in several states.
- Arrests and Investigations: In Panipat, Haryana, at least 8 cases were registered. Police arrested the local branch head and initiated a probe into money diverted to the personal accounts of directors.
- Investor Protests: Protests have occurred across locations like Samastipur (Bihar), with victims claiming officials stopped operations and went into hiding in December 2024, switching off communication with investors.
- Notice/Claim Process: Investors are advised to check the official CRCS portal for updates on the liquidation process to submit claims.
Central Registrar of Cooperative Societies +5
Status of Key Accused:
- Bijender: Identified as a key accused and Panipat district head for the society, his bank accounts were frozen and he was remanded into judicial custody following a complaint from a woman reporting a 5 lakh INR loss.
- Company Management: The scam, which began with a company founded in 2013 (Option One), later registered as a co-operative society in 2016 to continue collecting funds, according to investigations.
Victim Action Plan:
Victims are filing complaints with the Economic Offenses Wing of local police. Notices issued by the Cooperative Ombudsman are returning undelivered (‘Left’), confirming the closure of registered offices. Victims should look for official notices to register claims with the appointed liquidator. Central Registrar of Cooperative Societies +2
