Nirmal Ujjwal society depositors in Nagpur, money stuck, protest at headquarters

Investors in the Nirmal Ujjwal Credit Co-operative Society in Nagpur have fallen into financial distress after financial irregularities and fund diversion at the society. They are now on the brink of ruin. Money is so tight that they cannot afford treatment for illness.

Angry investors gathered in front of the society's headquarters at Nandanvan on October 5 and registered their protest. The situation was tense there for some time.

The society has been facing a financial crisis for a long time. Customers have not been returned their deposits for many days. Those who invested in fixed deposits and other schemes of the society have been making regular rounds to get their money back, but are not getting a satisfactory answer.

The CRCS began liquidation/winding-up proceedings against the society in September 2026. The reason is that the society did not cooperate with a forensic audit. Earlier, on April 24, 2026, the CRCS had issued an order barring the society from accepting new deposits and from renewing old deposits.

The Nagpur Bench of the Bombay High Court has also upheld this restraint, saying the interest of depositors is paramount. This means the ban on the society has also stood the test of the court.

Meanwhile, police were deployed in front of the headquarters on learning that a crowd of investors was gathering today. The depositors say the society has deployed police for its own protection, but there is no one to look after them. They say they had trusted the society and deposited their hard-earned money there. They also say the society now gives them no satisfactory answer.

The police say personnel have been deployed keeping in mind the possibility of some disturbance. On one side are investors whose money is stuck, and on the other the society's liquidation/winding-up proceedings are under way.