The Kerala Government has officially de-sanctioned a financial assistance package of Rs 90 lakh that had been sanctioned for the Mananthavady Women Service Cooperative Society Ltd. under a scheme of the National Cooperative Development Corporation (NCDC).
The assistance comprised Rs 40 lakh as share capital support and Rs 50 lakh as loan assistance. While the government had approved the release of the first installment in 2023-24, the funds were not disbursed as the society failed to submit the prescribed application and complete the required formalities for withdrawal.
According to official records, the society later informed authorities that it lacked adequate collateral security to avail the loan component of the project. Consequently, its managing committee passed a resolution seeking de-sanctioning of the assistance.
Based on recommendations from the Registrar of Cooperative Societies and with NCDC’s approval, the Kerala Government has formally withdrawn the entire Rs 90 lakh assistance package through an order.