Raj Thackeray alleges Rs 18 crore stolen annually from Siddhivinayak Temple; new housing rule cuts overdue interest

Maharashtra Navnirman Sena chief Raj Thackeray has raised fresh allegations of large-scale financial misconduct at Mumbai's iconic Siddhivinayak Temple, claiming that Rs 18 crore in devotee donations is misappropriated every year. In a separate development affecting millions of Mumbai residents, the Maharashtra government amended co-operative society rules to cap the interest charged on overdue maintenance payments at 12 per cent per annum, down sharply from the earlier ceiling of 21 per cent.

🗳️ Raj Thackeray accuses Siddhivinayak management of Rs 18 crore annual theft

Maharashtra Navnirman Sena president Raj Thackeray has made pointed allegations against the management of Mumbai's revered Siddhivinayak Temple, claiming that approximately Rs 18 crore in donations collected from devotees is being misappropriated every year. Thackeray raised these charges while addressing members of the MNS student wing, framing them as part of a continuing concern about the financial accountability of prominent religious institutions in Maharashtra. The allegation follows an earlier controversy in which Thackeray raised questions about the management of the Ram Mandir in Ayodhya, suggesting a sustained focus on how major temple finances are handled. The Siddhivinayak Temple in Prabhadevi is one of Mumbai's most visited and spiritually significant religious sites, drawing millions of devotees annually and receiving substantial funds through offerings and donations. Thackeray's remarks call for greater transparency in the temple's financial administration and, implicitly, for independent oversight of the funds flowing through its accounts. The allegations have reignited a broader public debate in Maharashtra about governance standards applied to religious trusts and the mechanisms in place to ensure that money donated by ordinary worshippers is used appropriately. Critics of temple administrations across the state have long argued that the current oversight framework is insufficient given the scale of resources involved, and Thackeray's remarks add political weight to those concerns. [3]

🏢 Maharashtra cuts maximum housing society overdue interest from 21% to 12%

Maharashtra has amended the rules governing co-operative housing societies in a move expected to provide meaningful financial relief to flat owners across the state, particularly in Mumbai where co-operative housing is the dominant form of residential ownership. The Maharashtra Co-operative Societies (Amendment) Rules, 2026 cap the rate of interest that housing societies can levy on delayed maintenance payments and other outstanding dues at 12 per cent per annum, a substantial reduction from the previous ceiling of 21 per cent per annum that many resident welfare advocates had criticised as disproportionately punitive. Housing societies across the state will now be required to review and update their bylaws, internal collection procedures, and recovery policies to bring them into compliance with the revised provisions. The change is expected to ease the financial burden on flat owners who experience difficulty in making timely maintenance payments, offering a more proportionate consequence for delayed remittances rather than a compounding penalty that could quickly grow to exceed the original outstanding amount. Real estate and legal experts have noted that the reform aligns interest rates on housing society dues more closely with prevailing market lending rates, removing an anomaly that had existed in co-operative housing regulations for years. Given that Mumbai hosts the highest concentration of registered co-operative housing societies in Maharashtra, the practical effect of the amendment is expected to be especially pronounced in the city. [6]

Sources: [3] The New Indian Express · [6] Mid-Day