The Kolhapur district credit cooperative is back in the news again. A report carried by the Times of India says the cooperative dept. has slapped notices to 49 people including 46 former directors of the bank and held them responsible for the bank’s loss to the tune of Rs 147 crore.
Of the total former directors , nine of them have died during the investigations and their close relatives have denied having received any property from their parents , the report claims.
The Maharashtra Cooperative Act, 1960, enables the department to transfer the responsibilities to the kin in cases where the director has died.
Sachin Rawal, regional assistant director and the officer assigned to investigate inappropriate allocation of loans, has submitted his 232-page report.
Rajendra kumar Darade, divisional deputy registrar of cooperative department, said the accused have to respond within 15 days failing which his office will ask the bank to seize their properties. Darade expects to receive the report soon.
