HC takes serious note of irregularities in Adarsh Co-op Society;

Lokmat News Network

Chhatrapati Sambhajinagar: The Aurangabad bench of Bombay High Court on Wednesday took serious note of Rs 200 crore irregularities in Adarsh Urban Cooperative Credit Society. MP Imtiaz Jaleel filed a writ petition in the court arguing that the scope of the case is vast rather than limited to just one credit society.

So, the HC converted the writ petition into Public Interest Litigation (PIL). A bench of HC comprising Justice Ravindra V Ghuge and Justice R M Joshi issued orders to make the Reserve Bank of India and Additional director general of police (economic offence wing) respondents in the case. The next hearing on the petition has been placed on March 21.

MP Jaleel filed the petition with the main demand to return money to depositors from the credit society. There are different credit cooperative societies in Marathwada, including Aurangabad Zilla Yashaswini Mahila Swayam Sahyata Patsanstha, Navrang Patsanstha, Krishna Patsanstha, Devai Patsanstha, Dnyanoba Patsanstha and Radhai Patsanstha. Credit cooperative societies have many properties. However, bidding was held only for five properties of the credit societies. The money which should be returned to the depositors is being spent on different administrative matters.

Police machinery sized 44 properties under the MPID Act and submitted a proposal to attach them. The proposal has been pending for the past many days. MP Jaleel argued that no action was taken on the issues. Assistant Government pleader Pawan Lakhotiya appeared for the State Government.

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Crores of rupees of 62 K depositors stuck

Imtiaz Jaleel personally (party-in-person) brought to the notice of the court that crores of rupees of 62,000 depositors were stuck in Adarsh Cooperative Society. The majority of the depositors are senior citizens. A total of 24 depositors passed away so far.