You must Sign In to post a response.
  • Category: Finance and Banking Jobs

    About Tirumala Tirupati Multistate Society.


    Do you have a query about the trust level on Tirupati Tirumala Multistate society? Searching for detailed information about this society? Scroll through this Ask Expert page and get all the information you are looking for.

    I am just confused about this Society.
    Can anyone please help me?
    I have heard too much about this Society named as Tirumala Tirupati Multistate co.op society.
    They are giving more interest and also giving commission for their advisers. I just want to know that if this a trusted society or not. Please tell me.
  • Answers

    4 Answers found.
  • Tirumalla Tirupati Multistate Co-operative Credit Society Limited is a Multi-State Co-Operative Society. It is registered under Multi-State Co-Operative Society Act 2002. . This organisation is having its registered office in Mumbai. This organisation will have its activities in the states of Maharashtra, Karnataka and Goa.
    It is like any other Cooperative society. You can invest in this society in the shape of Fixed Deposits, Recurring Deposits, Monthly Income Schemes and some other investment plans.
    Their address is Tirumalla Tirupati Multistate Cooperative Credit Society Limited, 402, Indira Bhavan, 4th Road, Near Hotel Regal Enclave. Khar (West), Mumbai, 400052.India. Their email address is info@ttmscc.com and website address is www. tirupaticredit. in.
    Before going for an investment in such organisations you should verify all the facts about the organisation and then only take a decision. You can go through their website which will give full details about the organisation and all the details can be studied fully and then make a decision. You can check the details of the Board of Directors and then you can decide. They are offering a good rate of interest for the investors.

    drrao
    always confident

  • There are many such co-operative societies, credit and thrift societies, chit funds, financial companies, and other various companies in our country which promise to give good interest to its members or investors on their deposits with it. They may be using this money in construction or business areas and then earning money and out of that giving the interest to the investors. It is quite possible and many investors would vouch for that. But my experience and knowledge about all these companies is not in a positive territory and I would suggest not to fall in trap of these companies which are registered legal companies in our countries but adopting wrong practices to cheat the investors. This company might be an exception and might not be cheating but how to find out that. Every year hundreds of such companies are declared illegal by the registrar of companies in India but then they again mushroom under newer names and newer disguise and start their agenda.

    In past also, we had seen thousands of companies which raised money from the gullible investors but then they could not give it back and most of them either disappeared from the scene or became bankrupt and investor had no way to get his investment back. In 1990 to 2000 there was a mushrooming of these companies and investors lost heavily. I was in Chennai at that time and people were investing in those companies much as they were giving high interest and gift also when you opened a new account there. I still remember the name of some of those companies like Lloyds Finance, Pentafour Software, DCM Financials, Madhusudan Chits, Pentafour Products, NEPC Micon, Bajaj Financials and Investment, Sterling tree plantation etc. These are only the main and prominent names and there were thousands of others which took so much money from the investors and practically the investors were duped. Govt made a high level body under SEBI comprising of retired judges to liquidate the immovable property (like office building or land plot) of some of these companies to make refund of some part of investors but that worked only in a very few cases as in the most of the cases there was no property traceable. Even those cases where property was auctioned only a few investors got only about 20% return of their investments.

    Today there is no agency where the affected investor can go and plead for help in this matter. So considering all these aspects it is better to be cautious in the matter and not to invest in such apparently lucrative areas.

    Knowledge is power.

  • Tirumalla Tirupati Multistate Co-operative Credit Society Limited is a Multi State Co-OperatIve society. It's like a small bank which offers a loan and also interest on your deposits. Although it's registered under Multi State Co-Operative Society Act 2002 but beware of such credit societies as nothing can be predicted about such registered Co-Operative Societies. It invites people to deposit their money mainly in the shape of Fixed Deposits, Recurring Deposits, Monthly Income Schemes.
    This finance company has its registered office in Mumbai. The area of operation of the society is limited to Maharashtra, Karnataka and Goa.
    Government banks or post office are good to deposit your money instead of taking risk in private finance firms.

  • Tirumala Tirupati Multistate Society is under the umbrella of the Multistate Cooperative Society Act 2002 with the registration number MSCS/CS/ 784/ 2013 which was registered on 8th February 2013.
    The following are the objectives of this society-
    1) To uplift the social and financial capacity of the members consistently.
    2) To inculcate their appetite for savings in different instruments such as Fixed deposits, Recurring deposits, Monthly Income Schemes etc.
    The society has its registered office in Mumbai and the area of the operations is concentrated in the areas of Maharashtra, Karnataka and Goa.
    The funds raised are lent to the members as per act of the co- operative society.
    The main objective of the society is to promote the interest of the members for their social and economic betterment with the application of co- operative principles. These schemes are most suited to the members particularly and is also extended to the general public offering them opportunities for the best achievements in their lives.


  • Sign In to post your comments