The record
Investigators examined 422 loans totalling INR 967.4 million and reported irregularities in 159 loans worth INR 338.2 million. Documents were seized and two fixed deposits totalling INR 18.2 million were frozen. These figures measure different parts of the case and should not be added together. [1][2]
The investigation continues. The reports reviewed did not include responses from the society or the individuals concerned. The ED’s original release was not independently retrieved.
Based on reporting from: IANS / The Hawk — 8 October 2026; Indian Cooperative — 8 October 2026; ECB reference exchange rates — 8 October 2026.
Source documents
03File updates
Report published
Editorial note
The INR 550 million figure is an alleged fraud estimate in the police report, not a finding of guilt or a recovered sum. Both publications draw on the same ED statement; they are not independent confirmations of the underlying allegations. The USD conversion uses the ECB reference rates of 8 October 2026: EUR 1 = USD 1.1186 and INR 108.2635.
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