Yes, Human Welfare Credit and Thrift Society Ltd. is a real organization, but it is facing significant issues; it has been ordered to be wound up by the Central Registrar of Cooperative Societies due to fraud, with liquidators appointed to handle its affairs and address depositor complaints for refunds. The society has been accused of fraud, has been subject to FIRs, and its promoters are reportedly absconding, making it a non-viable entity for investors.
Evidence of its reality and fraudulent activity:
- Official Winding-Up Order: The Central Registrar of Cooperative Societies issued an order on March 25, 2025, to wind up the Human Welfare Credit & Thrift Cooperative Society Ltd. and appointed a Liquidator to manage the process.
- Fraudulent Claims: The society is accused of duping the public with false promises of high returns, utilizing a multi-level marketing (MLM) model to attract investors before defrauding them.
- Absconding Management: The promoters and management of the society are reportedly absconding, which is a significant indicator of fraudulent activity, according to the Central Registrar of Cooperative Societies.
- Depositor Complaints: The Cooperative Ombudsman has continued to receive complaints from depositors seeking refunds, which are now to be addressed by the appointed liquidator.
What to do if you are a depositor:
- Submit a Claim: All members and depositors should submit their complaints and claims for refund to the Liquidator, who has been appointed by the Central Registrar of Cooperative Societies.
- Check Official Sources: Verify information and updates by visiting the official website of the Central Registrar of Cooperative Societies.
