The Central Bureau of Investigation has launched a formal probe into Viswadeepthi Multi State Agri Co-operative Society for an alleged Rs 65-crore deposit scam. The agency is now reviewing 335 cases following a Kerala High Court mandate. Note that this entity is a private cooperative society and is not a publicly listed company on any stock exchange.
The Central Bureau of Investigation (CBI) has officially started an investigation into a deposit fraud case involving the Viswadeepthi Multi State Agri Co-operative Society. This action follows an order from the Kerala High Court, which directed federal intervention due to the large scale of the alleged financial irregularities and the interstate nature of the society's operations.
The CBI’s Anti-Corruption Unit in Kochi registered an FIR on September 29, 2026. The agency is now consolidating records from 335 separate criminal cases that were previously handled by local police and the state’s Economic Offences Wing. These complaints primarily originated in Kerala, with additional filings in Tamil Nadu, where the society was based.
The Nature of the Alleged Scheme
According to official reports, the society attracted funds from the public between April 2023 and November 2024 by promising high interest rates, reportedly between 12% and 14.5%. However, many depositors soon faced defaults, with the society failing to pay both the promised interest and the original investment amounts. Estimates currently place the total financial loss for depositors at approximately Rs 65 crore, though investigators are conducting further audits to determine the full extent of the shortfall.
Liquidation and Legal Status
In September 2026, the Central Registrar of Cooperative Societies ordered the winding up of the society and appointed a liquidator to manage its remaining assets. This follows earlier warnings, including an inspection by the National Cooperative Development Corporation in August 2025, which found that the society was not even operating from its registered business address. The ongoing CBI probe will now focus on tracing where the deposited funds were moved and interrogating the 11 board members and promoters named in the legal filings.
Important Note for Investors
It is important to clarify that Viswadeepthi Multi State Agri Co-operative Society is a private cooperative entity and is not a publicly listed company. It does not trade on the National Stock Exchange (NSE) or the Bombay Stock Exchange (BSE). Investors should not confuse this entity with any publicly traded companies. This case highlights the significant risks associated with unregulated deposit schemes, where investors may have limited legal recourse for recovering funds once a company or society enters liquidation, especially if key management personnel are untraceable.
The next steps in this case will involve the CBI’s interrogation of the society’s management and the ongoing efforts by the liquidator to identify any sellable assets to help return money to affected depositors. The progress of the CBI’s forensic audit will be the key development to watch.