Team Herald
PANJIM: The Goa State Co-operative Marketing & Supply Federation Ltd has suspended its managing director Kashinath Naik, following directions from the Registrar of Cooperative Societies (RCS).
The suspension comes following reports alleging a Rs 5.5 crore fraud involving NAFED (National Agricultural Cooperative Marketing Federation of India) and other Federations in Nashik over purchase of onions.
A detailed inquiry and disciplinary proceedings are being initiated, with the Committee of Administrators set to coordinate with the Nashik Police’s Economic Offences Wing.
The decision was taken by the Committee of Administrators in the meeting held on Tuesday.
In February this year, a case was filed against the managing director of the Goa State Cooperative Marketing and Supply Federation, at the Mumbai Naka Police Station in Nashik for allegedly defrauding NAFED and other Federations in Nashik, of Rs 5.5 crore.
The Federation had purchased 1,589 metric tonnes of onion from NAFED at Rs 35 per kg between October 22 and November 11, 2024, to sell it in Goa at a subsidised rate. The complaint filed by a NAFED official alleges that the Goa Federation sold it at a higher market rate for personal gains thus cheating NAFED as well as the people of Goa.
Meanwhile, the Goa State Co-operative Marketing & Supply Federation Ltd has also flagged another incident involving a staff member that resulted in a significant financial loss to the tune of Rs 1.95 crore in which it was alleged that appropriate disciplinary action was not initiated by the managing director.