In a significant development, the Cooperative Ombudsman under the Union Ministry of Cooperation Alok Agarwal has directed Beed (Maharashtra) based Shri Sairam Urban Multi-State Cooperative Credit Society to refund the outstanding savings balance of Rs 76,053 along with applicable interest to the complaint Jaybhaye Ramkrishna Marotirao within 15 days.
The directive was issued on 20nd January 2025 after the society failed to respond to multiple notices and reminders regarding the depositor’s complaint.
According to the details of the case, Jaybhaye Ramkrishna Marotirao maintained Savings Account No. 19004618 with the Society. Despite requesting the refund of his deposit on 7th August 2024, the Society neither refunded the amount nor replied to his communication.
The Ombudsman’s office issued the first notice on 21st October 2024, followed by subsequent reminders on 13th November 2024 and 20th December 2024. However, no response was received from the Society. Notably, the last reminder was returned undelivered, marked as “Left” on 8th January 2025.
In the order, Cooperative Ombudsman Alok Agarwal stated, “After examining the facts and available records, it is evident that the Society has failed to act on the complainant’s request and has no valid explanation for withholding the deposit.”
The Ombudsman has directed the Society to refund the deposit, including interest accrued, within 15 days of the order’s issuance, and to submit a compliance report immediately thereafter.
This decision underscores the importance of adhering to cooperative principles and prioritizing the financial interests of members. It also serves as a warning to other cooperative institutions to maintain transparency and accountability.
