Mumbai, Feb 01: The Bhoiwada police have registered a criminal case against former directors and office bearers of Gurukrupa Urban Co-operative Credit Society Ltd., Mumbai, in connection with an alleged financial fraud amounting to Rs 1.72 crore.
The case has been filed following a complaint by the Co-operation Department after completion of the statutory audit of the society. Police have invoked relevant sections of the Indian Penal Code (IPC) along with Section 81(5)(b) of the Maharashtra Co-operative Societies Act, 1960.
Audit complaint and officer details
According to the FIR, the complainant, Vidya Anil Mahajan, 53, is an officer in the Audit Department under the Co-operation, Marketing and Textiles Department. She has been serving as District Special Auditor (Class I), Raigad, Alibag, since October 2025.
While serving as Special Auditor (Class II), Mumbai, Mahajan was assigned the statutory audit of Gurukrupa Urban Co-operative Credit Society for the period 2015–16 to 2023–24, as per an order dated November 29, 2024, issued by the Office of the Co-operation Commissioner and Registrar, Pune.
Irregularities flagged in audit
During the audit, Mahajan allegedly detected large-scale financial irregularities. She submitted the statutory audit report on September 15, 2025, highlighting misappropriation of funds, to the Co-operation Commissioner for further action.
As per the FIR, the then Board of Directors allegedly misappropriated Rs 1,39,75,567 by not depositing the society’s cash balance. Additionally, a loan of Rs 32.80 lakh was allegedly sanctioned to the society’s Chief Executive Officer, Chandrakant Chougule, without obtaining any collateral, thereby misleading members of the society.
The complaint alleges that the directors and office bearers acted in collusion, breached the trust of members, and caused a total financial loss of Rs 1.72 crore to the institution.
Case registration and accused named
Based on a special audit report and as per an office order dated December 24, 2025, the Co-operation Commissioner authorised Mahajan to initiate criminal proceedings. Accordingly, a complaint was lodged at the Bhoiwada police station.
Police have registered a case against the then Board of Directors who were in office between April 1, 2015, and March 31, 2021. Those named in the case include Manoj Jayram Sawant (Chairman), Tukaram Sakharam Khambe (Vice-Chairman), directors Jagannath Laxman Chavan, Vishram Ganu Navrang, Janardan Laxman Khade, Adinath Laxman Balgude, Tukaram Vishram Sanagar, Vilas Yashwant Ghadshi, Reshma Ramesh Mohite and Aparna Ramesh Nandoskar, along with Chief Executive Officer Chandrakant Devji Chougule.
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Deaths of former office bearers
The FIR also notes that former chairman Manoj Sawant died on March 4, 2021, director Vishram Navrang on January 17, 2023, and CEO Chandrakant Chougule on May 20, 2023. Further investigation is underway.
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