Akshay Nagari Co-op Credit: Depositors heave a sigh of relief

Pune based Akshay Nagari Cooperative Credit Society depositors are a relieved lot as finally the society has decided to return their money following registration of criminal cases against its board members.

Media reports earlier said officials of District Registrar of Cooperative Societies had lodged complaint with police for allegedly swindling investors and account holders out of their money deposits by board members of the society.

When this correspondent asked officials of Registrar Office Pune, about the scam they were quoted saying sometime back the credit society’s Chairman and Secretary had informed police that their society’s records had been stolen from the premises and that there was a need for an inquiry.

The news carried across local newspapers on the scam had created a panic among depositors and investors of the society.

The scam is estimated to involve an amount of Rs. 70 lakh. Akshay Nagari Cooperative Credit Society has three branches in Shivajinagar.

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