While giving the award, Shamsher Singh, the sole arbitrator appointed to settle the elections dispute related to National Federation of Tourism & Transport Cooperative of India (NFTC), has declared the elections as null and void.
The award was given recently, of which the copy is with Indian Cooperative, reads, “it is decided that the election of the Board of Directors of National Federation of Tourism & Transport Cooperative of India Ltd, conducted by Dr. V. K. Dubey. Returning Officer on 17.01.2022 is hereby declared as null and void”.
“As per Section 39 of The Multi State Cooperative Societies Act 2002, AGM is not empowered to induct new members. As per Section 49 of The Multi State Cooperative Societies Act. 2002 the power to admit as new members lies with the Board of Directors”.
It further reads, “As per Section 11 of the Bye Laws of the Respondent No. 1 Society, the board of directors only has power to admit new members. Thus, in the instant case the submission of the Respondents that the AGM in its meeting dated 21.12.2020 has approved the induction of new members, turns out to be illegal in view of the provisions of Section 39 of the Multi State Cooperative Societies Act. 2002”, it concludes.
Readers would recall that the Central Registrar of Cooperative Societies had appointed the Arbitrator to settle
Nacof Director Ranjit Singh and Rajeev Singh son of Nacof working Chairman Ram Iqbal Singh had appealed to the Central Registrar to appoint the arbitrator to settle the disputes related to NFTC.
It bears recall that the five directors of NFTC, including T G Sajeev, K G Vinod, Biju P.M, and Raveendran MR and others submitted their resignation letters recently, who are said to be in the group of V.V.P. Nair, the Chairman of the said federation and a member of the NCUI governing council.
NFTC recently hogged the media headlines for releasing an advertisement for the posts of General Managers, Managers, Assistant Managers and Field Executives and the total vacancies for these posts were 51,596.