Even as scores of depositors continue to demand their money back from Sahara co-operatives, the conglomerate has asked people to write their grievances to its portal and not to the government agencies. “This will quicken the resolution of their grievances”, the communication adds.
Sahara published public announcements in different newspapers saying “We would like to make an appeal to our cooperative educator friends and esteemed members that the Society is always committed to your interest and service, and will stay so in future too.”
“Therefore, instead of writing letters to Government establishments including Prime Minister’s Office, Chief Minister’s Office, District Magistrate’s Office and Police Administration, apart from the Office of the Central Registrar etc., if you had conveyed your problems through the society portal, a solution would have been reached much earlier and the precious time of the Government offices wouldn’t have been wasted.”
The Communique also mentions that the time has been tough for the last few years for the group. “There has been a situation of delayed maturity payments due to certain legal hindrances. However, even for the delay of a single day, we certainly pay interest of the delayed period to our esteemed members”, it reads.
Earlier, in the first week of the month a hearing on the matter of Sahara Credit Cooperative Society took place in the court of Central Registrar of Cooperative Societies through Video Conferencing, in which Sahara was asked either to repay or get ready for liquidation.
Hundreds of victims of Sahara Co-ops have written to everybody from PM to CMs to RoCs for relief for many months now. Even Indian Cooperative desk is flooded by such mails in dozens every day.
During the hearing, the Chairman and representatives of the Society had been directed to submit a credible plan for arranging the funds for the society’s regular functioning. In the case, the Management failed to provide a clear path for continuation of the society then the Authority would be left with no option but to initiate proceedings under Section 86 of the Multistate Cooperative Societies Act, 2002 which is related to winding up of multi state cooperative societies”.
Those who were present during the hearing included, D V Srivastava, Chairman, Karunesh Awasthi, MD, Samar Mandal, CA, Abhishekh Dua, Advocate, Sahara Credit Cooperative Society. The next hearing on the matter is fixed on 6 November 2020.
In the order sheet it was mentioned that 34,000 complaints have been received by this authority in the last 7-8 months. On a daily basis Indian Cooperative received scores of mails of gullible investors of Lucknow based Sahara Credit Cooperative Society who used to share their grievances with us and on several occasions Indian Cooperative published the complaints of victims against the society.