Team Goemkarponn
PANAJI: The Goa government has decided to restore the No Objection Certificate (NOC) of Tirumalla Tirupati Multistate Co-operative Credit Society Ltd, nearly three months after revoking its earlier approval over regulatory concerns.
The move is expected to allow the society to resume its activities and continue branch operations in Goa, subject to fresh conditions imposed by the authorities.
Officials from the Registrar of Co-operative Societies (RCS) said the society submitted a new application after addressing the compliance shortcomings pointed out during previous inspections.
Registrar Ashutosh Apte confirmed that the State has agreed in principle to grant a fresh NOC after reviewing compliance with guidelines prescribed by the Central Registrar of Co-operative Societies.
According to officials, the earlier approval was withdrawn in February following alleged violations of statutory norms and failure to comply with regulatory requirements.
The withdrawal had effectively cancelled permissions granted in 2014 and 2018, under which the society had expanded its activities and opened multiple branches in Goa.
The society was earlier accused of not furnishing audited financial reports within the prescribed period, failing to cooperate during inspections, violating conditions attached to the NOC, and not responding to notices issued by the Registrar’s office.
Sources said the fresh approval will include several safeguards and operational conditions. These are expected to cover periodic submission of financial records, maintaining separate liquidation-related safeguards for Goa operations, and prioritising employment opportunities for local residents.
Cooperation Minister Subhash Shirodkar had recently stated that the society had submitted all necessary documents and that the government was examining the proposal before taking a final decision.
It is also learnt that the society submitted a written apology to the government regarding earlier instances of non-compliance and procedural lapses.
