Dnyanradha Multi-State Scam: Hope For Depositors As Beed Court Hears Plea To Auction Attached Assets

Beed: In a recent development that could offer relief to depositors who claim to have been defrauded, the Beed court has taken up a petition seeking the auction and sale of assets linked to the Dnyanradha Multi-State Co-operative Credit Society Ltd. The application for this process was filed by advocate Chandrakant Thombre and Pravin Vishnupant Neharkar on behalf of the depositors.

The matter is currently being heard in the special Maharashtra Protection of Interest of Depositors (MPID) court in Beed, which is part of the ongoing trial of State of Maharashtra v. Suresh Dyanoba Kute and Others (Special Case No. 160/2024). Over 145 FIRs have been registered across Maharashtra and other states over allegations of defrauding depositors by promising high interest rates.

The trial is connected to Beed Police Crime No. 113/2024, registered under Sections of the Indian Penal Code. Despite the police attaching properties under Section 4 of the MPID Act, the auction process has reportedly stalled. The depositors claim that the special court has the authority to order the sale of these assets and distribute the proceeds to the affected depositors.

They argue that this could be a crucial step in recovering their investments, many of which are retirement savings and hard-earned money from marginal farmers. The court has now listed the matter for further hearing on October 27, 2026.