PONDA: The Assistant Registrar of Cooperative Societies (ARCS) at Sahakar Bhavan Curti, has disqualified, the entire Board of Directors (BoDs) of Ponda Urban Cooperative Society operating at Ponda, based on the auditors’ report about mismanagement, violations of several provisions of cooperative laws and the deteriorating financial condition.
In its judgment dated November 3, the Cooperative Officer Sangeeta Naik declared the following eleven member Board of Directors as disqualified to continue on the board forever. These include Sandeep N Naik (Chairman), Dattaram Porobo (Secretary), Mamta Kesarakar Vishnu V Naik, Chandrakant Dhargalkar, Brahmanand Naik, Gurudas Naik, Nilkant Naik, Shaswat Naik, Gokuldas Naik and Divakar Naik.
She also appointed an Administrative committee for management of the society consisting of three members headed by its Chairman Rajendra Gaude Jr Auditor Co-op Societies Ponda Zone, beside Ramkrishna Naik and Ankush Naik as members of the Committee of Administrators to manage the affairs of society for a period of three month or till the new Board of Directors takes office, whichever is earlier.
The (ARCS) noted that auditor had pointed out during audit 2021-22 that borrowing capacity is totally exhausted, but society is still accepting deposits from members and as such it has committed a breach of the Act.
Further, the total outstanding loan amount is Rs 5.69 crore and this includes Rs 3.19 crore overdue loan amount, which is also bad and doubtful debt and the above position is alarming. Further the auditor noticed that no proper documents and tangible security was obtained while issuing loans. Even a 71 year-old person was issued Rs 10 lakh loan without proper security to recover the loan.
Further, auditors directed not to accept deposits and issue loans till the financial condition improves but Rs 7.71 crore deposits were accepted.
Meanwhile, Tuesday the Founder Members of Ponda Urban Cooperative Society including Chief Promoter Adv Ramkrishna Naik who is also appointed on three member Administrative Committee told media that there is major mismanagement of Rs 5 crore and demanded that government take the initiative to save shareholders’ and depositors’ money.
