Now fake cooperative societies under scanner in U’khand

Utpal Singh fake cooperative societies

Jai Kumar


DEHRADUN, March, 07

In a major development, in a bid to address economic offences across Uttarakhand, the Economic Offences Wing would work under Special Task Force (STF) in the state.

This was informed by Uttarakhand Chief Secretary Utpal Kumar Singh at a high level meeting held in Dehradun on Wednesday.  Chief Secretary said that an FIR would be lodged against fake banking companies in the state. He has said that necessary steps would be taken to amend Uttarakhand Protection of Interests of Depositors Act (PID Act), while chairing Reserve Bank of India’s state level coordination committee meeting held in Dehradun on Wednesday.

The meeting was also informed that RBI would hold a series of awareness campaign on PID Act in the state. The officials expressed concern over functioning of twelve multi-state cooperative societies in Uttarakhand.

They said that these cooperative societies are not authorized to take and deposit cash from their members and to do banking without taking permission from RBI in the state. The address of these societies were found incorrect in an inquiry held by Registrar of cooperative societies. It was decided to lodge an FIR against them and to arrest them from the state, where their headquarters have been established.  A letter would be submitted to Central Registrar Societies urged to cancel their registration.

The High Court would be requested to sanction the court of Session Judge with an aim to deal with economic offences in the state. The officials had a discussion to stop misleading advertisements and fake toll free numbers in the state.