Published On : Wed, May 4th, 2022

Depositors bear brunt as 26 co-op societies bundled out in past 5 years in Nagpur

22 co-op societies went for liquidation and Administrators were appointed on 28 co-op societies during the same period, says an RTI reply

Nagpur: The co-operative societies in Nagpur district, it seems, are passing through bad days. The coop societies are the backbone of credit supply in urban as well as rural areas. However, an RTI reply has painted a dismal picture as 26 coop societies have downed their shutters and 22 coop societies went for liquidation and Administrators were appointed on 28 coop societies in the past five years.

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The information was provided by the office of District Deputy Registrar of Co-operative Societies, Nagpur, to city-based activist Abhay Kolarkar, in reply to an application under Right to Information (RTI) Act.

According to the RTI reply, between 2017 and 2022, as many as 26 co-operative societies have closed down in Nagpur district. Of a total 821 societies registered in the district, 795 are functional and 26 have closed down. Most of closed down societies – 12 – are in the area under the jurisdiction of Deputy Registrar of Cooperative Societies, Nagpur City-1, followed by four each under the jurisdiction of District Deputy Registrar and Assistant Registrar (Mouda).

During the same period, revealed in reply to the RTI application by Kolarkar, 22 co-operative societies went for liquidation and Administrators were appointed on 28. The Administrators were appointed to improve the financial health of the societies concerned and to make them profitable once again. However, in response to Kolarkar’s application, the Public Information Officer and Office Superintendent, District Deputy Registrar of Co-operative Societies, Nagpur stated that information was not available with his office regarding the societies that had started posting profits once again since appointment of Administrators.

The societies that went for liquidation between 2017 and 2022, are still in liquidation. As such, the money has not been returned to depositors. For, these societies have not posted profits. Thus, it becomes clear that during the above mentioned period, none of these societies could come out of liquidation.

Also, it appears that the accounts of at least 15 co-operative societies in the district were not managed well. As such, action was taken against their office-bearers after the audit. As part of action, between 2017 and 2022, Enquiry Officers were appointed to three societies under the jurisdiction of District Deputy Registrar of Co-operative Societies, Nagpur.

The office of Deputy Registrar of Co-operative Societies, Nagpur-1 appointed an Enquiry Officer for one more society. Deputy Registrar of Cooperative Societies, Nagpur-3 authorised Auditors on four societies. Assistant Registrar of Cooperative Societies took action against 21 office-bearers of a society in Kamptee, 34 office bearers of two other societies in Mouda, Directors of another society in Umred, and 25 office-bearers of two societies in Saoner.

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