District co-operative department initiates attaching properties of BoD of co-operatives:
District’s co-operative movement in dwelled stage is attempting a minor recovery here. Co-operative department has initiated attaching properties of the board of directors of the societies having fallen in financial woes. The effort includes stamping district administration name as property co-owner thereby banning its further sale and allowing administration to auction the same further to collect the losses. Administration has also urged depositors to avail property information of such directors to rapidly take the process ahead. Noteworthy aspect is district co-operative movement has trapped around 800 Crores of medium/ small savings in form of deposits.
District’s co-operative movement in dwelled stage is attempting a minor recovery here. Co-operative department has initiated attaching properties of the board of directors of the societies having fallen in financial woes. The effort includes stamping district administration name as property co-owner thereby banning its further sale and allowing administration to auction the same further to collect the losses. Administration has also urged depositors to avail property information of such directors to rapidly take the process ahead. Noteworthy aspect is district co-operative movement has trapped around 800 Crores of medium/ small savings in form of deposits.
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