In a significant development, the Cooperative Ombudsman has directed Ahmedabad based Unique Swayam MultiState Multipurpose Cooperative Society to refund the maturity proceeds along with applicable interest to a complainant who had been waiting for her fixed deposit repayment since March 2024.
The order came in response to a complaint filed by Smt. Chetna Jagdishbhai Jani, who had invested Rs 99,900 in a fixed deposit with the Society on August 31, 2017.
The deposit matured on March 31, 2024, and the complainant had submitted written requests for the refund on April 4, 2024, and again on February 24, 2025. However, the Society neither refunded the amount nor responded to her communications.
Upon receiving the complaint on March 26, 2025, the Ombudsman’s office issued notices to the Society on April 24 and May 14, 2025, seeking a response. Despite multiple notices, the Society failed to reply or appear for the scheduled hearing held via video conferencing on June 10, 2025.
While the complainant was represented by Jagdish Chandra Amritlal Jani at the hearing, the Society remained unrepresented. The representative reiterated the complaint and highlighted the Society’s uncooperative attitude.
After reviewing the documents and submissions, the Ombudsman noted that the Society had failed to fulfill its obligation of repaying the matured deposit and had also shown disregard for the Ombudsman’s process by not attending the hearing or responding to notices.
In his final order, Cooperative Ombudsman Alok Agarwal directed Unique Swayam MultiState Multipurpose Cooperative Society to pay the deposit amount along with up-to-date interest within 15 days of the issuance of the order. The Society is also required to submit a compliance report immediately thereafter.
