The Central Registrar of Cooperative Societies Vijay Kumar has issued a notice related to the winding up of scam-ridden Rajasthan-based Navjeevan Credit Co-operative Society recently.
The Navjeevan Credit Cooperative Society is not functioning as per the provisions of the MSCS Act, 2002 and rules made thereunder at its registered address. Therefore, it has been decided to initiate winding up of the Society under the provisions of the MSCS Act, 2002 and Rules made thereunder, reads the notice.
Any objections to the same may be brought to the notice of the Central Registrar of Cooperative Societies within 15 days from the date of uploading this notice on the official website i.e. www.mscs.dac.gov.in failing which, it will be presumed that the Society has nothing to say and further action to wind up the Society would be initiated as per the provisions of the MSCS Act and rules made thereunder”, it further reads.
According to the letter, ” Navjeevan Credit Cooperative Society Ltd., High School Road, Barmer, Rajasthan 344001 (MSCS/CR/368/2010) is registered under the provisions of the Multi-State Cooperative Society (MSCS) Act, 2002 and Rules made thereunder”.
“The Registrar of Cooperative Societies, Government of Rajasthan has submitted an Inspection Report u/s 108 of MSCS Act, 2002 against Navjeevan Credit Cooperative Society Ltd and reported that the society is closed for a long time and its Board of Directors are in police custody. The Society has not submitted Annual and Audit reports after the year 2017-18”, the letter underlined.
Besides this, a Notice vide letter No. L-11014/5/2022-L&M dated 07.03.2022 in compliance with Orders of Hon’ble High Court of Rajasthan at Jodhpur in various court cases related to the matter of non-repayment of matured deposits by the Navjeevan Credit Cooperative Society was issued to the society with the direction to refund the amount and submit a compliance report in this regard, but the envelope containing the notice, returned undelivered to this office, its concludes.
Readers would recall that last year in December, ED arrested Jai Narayan Sharma and Nizamudin in Navjeevan Credit Cooperative Society Scam Case and seized incriminating documents and digital devices during searches on money laundering charges.