Mumbai News: Shashank Rao Panel Sweeps BEST Credit Society Polls, Thackeray Brothers Face Stunning Defeat

In a major political upset that has shaken Mumbai’s power corridors, the Shashank Rao-led panel clinched a decisive victory in the 2025 BEST Employees’ Co-operative Credit Society elections. The panel triumphed over both the incumbent Mahayuti-backed Sahakar Samruddhi group and the recently formed Utkarsh panel, jointly led by Uddhav and Raj Thackeray.

Just months ahead of the BMC elections, this poll result is being seen as a major setback for the Thackeray brothers.

Held on August 18, the fiercely contested election saw its results declared after an intense overnight counting session that stretched past midnight on Tuesday.

Rao’s panel clinched 14 out of the 21 seats, while the Sahakar Samruddhi panel managed to secure just 7. In a shock outcome, the Thackeray brothers’ Utkarsh panel failed to win a single seat — a stark contrast to their nine-year unbroken reign over the powerful credit society.

Speaking to a news agency, Rao described this as a triumph for BEST employees, who have turned down the Sena (UBT)-led group due to their "anti-worker" stance. He added that Chief Minister Devendra Fadnavis and Mumbai BJP leader Ashish Shelar have consistently stood behind the BEST workers.

"The outcome is being widely viewed as a significant political signal ahead of the upcoming Brihanmumbai Municipal Corporation (BMC) elections. The Thackeray brothers, who came together for the first time in years to contest this election, had hoped their joint effort would revive their influence. Instead, the results have raised fresh questions about their political capital and organisational reach" said a BEST workers union leader.

Observers credit Rao’s emphatic win to years of sustained engagement with BEST employees, his panel’s strong grassroots connect, and the enduring legacy of his late father and prominent trade unionist, Sharad Rao. With over 15,000 employees eligible to vote, the panel’s long-standing ties with worker unions and hands-on approach to resolving employee grievances appeared to tip the scales in their favour.

“This result wasn’t just about the credit society — it was about trust, legacy, and presence among the workers,” said a veteran union observer. “Rao’s team has been there consistently, while the Thackeray alliance lacked the momentum and clarity that this election required.”

"While the Sahakar Samruddhi panel salvaged a few seats, it too fell short of expectations, underscoring a broader churn in employee politics within Mumbai’s public sector landscape" said a member of BEST Credit Society adding that after nearly a decade of unchallenged dominance, the Thackeray-led panel has suffered a setback in the society elections, signaling a potential shift in the local political landscape. But for many observers, this contest was about more than just society governance — it served as a testing ground for the upcoming Brihanmumbai Municipal Corporation (BMC) elections. The spotlight was firmly on the Thackeray brothers, who, despite a history of political rivalry, joined forces for this poll in what became their first major collaboration in years. While the brothers have yet to confirm whether their alliance will hold for the civic polls, their joint appearance in this contest was seen as a critical rehearsal for a broader political comeback.

Reacting to the defeat, Suhas Samant, President of the BEST Kamgar Sena (UBT), accused the BJP of deploying disproportionate financial and political muscle to sway the results.

“Over the past week, we witnessed a massive flow of money,” Samant said. “We believed that employees might accept it but still vote for us. That didn’t happen. Against money power, we fell short. The BJP used all their influence and machinery even in a co-operative credit society poll — one has to acknowledge their effort, and also the fear it generates.”

"In fact, Vithal Gaikwad, who is the General Secretary of the Mumbai Electric Workers Union and known for his long-standing association with Shiv Sena, chose to contest the elections independently, separate from the main group," Samant further stated.

According to Samant, the election was fought more like a general election—similar to one for the State Assembly or Lok Sabha—with all contesting groups, including the ruling party, spending large amounts on propaganda.

"With the BMC elections approaching, political strategists are scrutinizing the recent BEST poll results for signs of changing loyalties and evolving ground realities. For the Thackeray brothers, the path forward may demand more than just a realignment of alliances—it may call for a renewed and deeper connection with their traditional support base" said veteran union leader who didn't want to be quoted.