Wed, 16 Oct, 2019

3 coop societies under govt scrutiny in N Goa

Admins appointed in two, a/cs of third being audited

11th October 2019, 02:48 Hrs

the goan I network

MAPUSA   

Three cooperative/credit societies in North Goa have come under scrutiny for misappropriation of funds which runs in lakhs of rupees, even as more such societies are expected to follow.   

The Registrar of Cooperative Societies has stepped in and appointed administrators in two societies while the book of accounts of the third society is being audited.   

There are 48 coop societies in North Goa, of which 22 are multi-purpose while 26 are credit societies.   

One of the three maligned societies where action has already been initiated was in Pernem taluka.   

A senior official in the Registrar of Coop Societies informed that misappropriation of Rs 45 lakh has allegedly taken place in Pernem Multi-Purpose Urban Cooperative Society with the active involvement of some directors.   

The registrar has dissolved the board of directors and an administrator has been appointed to look into the affairs of the society and to initiate recovery proceedings.   

The senior official said that the directors who were involved in the misappropriation had granted loans to their kith and kin.   

“We have liquidated Rs 20 lakh Fixed Deposits of the directors who were involved in the misappropriation. The task ahead is to recover the balance Rs 25 lakh,” the official said.   

He said efforts are being made to examine each and every loan issued to shareholders while laying stress on recovering interest due on various loans.   

Action has also been taken 

on Mapusa-based Goa Liberal Urban Coop Credit Society for alleged embezzlement of funds through pigmy collection.   

The board of directors of the society has been dissolved and a three-member panel has been appointed as the administrator and run the affairs of the society. The focus of the panel is on recovery.   

The functioning of third cooperative society which is under scrutiny is a Porvorim-based coop society.   

The society is soon expected to come under an administrator even as the Assistant Registrar of Coop Societies is examining the audit report of the society’s financial statement.   

“Since fraud in these three societies has come to light, we will now examine audit reports of all the cooperative and credit societies in North Goa,” the senior official said.  PERNEM MULTI-PURPOSE  

URBAN COOP SOCIETY

Misappropriation of Rs 45 lakh allegedly taken place with the active involvement of some directors; administrator appointed   

GOA LIBERAL URBAN   

COOP CREDIT SOCIETY  

Alleged embezzlement of funds through pigmy collection. Registrar appoints three-member panel as administrator  

IN THE DOCK  

The functioning of third cooperative society which is under scrutiny is a Porvorim-based coop society, soon expected to come under an administrator