Solan (Himachal Pradesh) based Subathu Urban NATC Cooperative Society is in news for all the wrong reasons, as the society functionaries distributed loans worth of Rs 18 crore to their relatives in violation of the prescribed norms.
Talking to media peons, one of the founder members of the society Suresh Kumar Sharma said, “The society was revived in 1997 with the efforts of Sushil Garg (Chief Promoter of the society) and the society has been going in the right direction for the past many years”. he said.
“There are 2134 investors associated with the society and all have hit the road to get back their hard earned money. We request the cooperative department of the state to take strict action against the culprits”, said Sharma.
It is reported that the property of Rs 13 crore of those involved in the fraud has been attached.