Dear sir,
I and my all family members were depositing money regularly in Shree Dabhoi Sindh cooperative credit society , Dabhol (Dist-Baroda,Gujarat ). This society is not working properly since 2006. We renew our FDs on regular intervals. As per Manager, he is not able to give back amount like 5 lacks as the bank has not given that money to BOB-Surat and they have not refunded till now.
I have given written complaint to Narmada Bhuvan -District Registrar -Vadodara about one and a half years ago. He has also issued notice to the Society. But committee members have not bothered to reply.
Frustrated, I went to District Registrar last week, but did not get satisfactory reply there also. I plan to approach “Grahak Suraksha” for getting back our hard earned money.
As per my information Cooperative credit society should audit its account every year. But from the year 2006 this society has not bothered to do so.
1) Can you guide me what is the best way to get my money back- “Grahak Suraksha ” or “Board of Nominee ” ?
2) Has the District Registrar power enough to help me ?
IC Naik:
It’s a high risk investment. Even amounts deposited in a Cooperative Bank are not risk free to the extent deposit exceeds Rs 100,000.
You have already initiated various steps, however the most important is raising a dispute before Cooperative Court through the Registrar.
The Registrar having taken cognizance of the dispute, it should be easy / faster to go to Court as Registar’s clearance is required before filing a dispute in Cooperative Court.