Himachal News: Big Scam Of Rs 18 Crore From More Than 15 thousand investors in The Urban Non-Agricultural Credit and Savings Cooperative Society of Subathu

Reported & Written By Kumud Sharma, Diary Times, Solan, March 27:  A big scam of about Rs 18 crore involving about 15 thousand investors has come to light in The Urban Non-Agricultural Credit and Savings Cooperative Society Committee of Subathu, Solan.

On Wednesday, investors reached the Assistant Registrar of Cooperative Societies and surrounded the office. Angry investors have demanded the strictest action and arrest against the former Chairman of the Society who indulged in fraud. Along with this, a demand has also been made to return the hard-earned money of 15 thousand people.

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Investors told that they had deposited the amount of their saved capital little by little in the Urban Non-Agricultural Credit and Savings Cooperative Society Committee, so that it could be used in difficult times. But the former Chairman of the Cooperative Society misused his position and distributed this money to his own relatives. They have demanded that the properties of the former president and his relatives should be attached and the former president should be arrested and his money should be returned.

On the other hand, Assistant Registrar of Cooperative Societies and Distribution Officer Girish Nadda said that he had received complaints from investors of The Subathu Urban Non-Agricultural Credit and Savings Cooperative Society. The audit has also found that former Cooperative Society President Sushil Garg and the then managing committee wrongly distributed Rs 18 crore to their own relatives, who are not returning it now.

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Action is being taken by the department and the property of former president Sushil Garg and his relatives has been attached. The department has sent summons to him and has also asked him to deposit the money. Girish Nadda said that movable and immovable properties worth about Rs 13 crore have been attached so far. Besides, their bank accounts have also been sealed. Girish Nadda assured that the investors’ money will be returned to them.

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Kumud Sharma

Kumud Sharma is the First Well-Known Female Journalist of the Journalism World of Himachal Pradesh. I am the Founder, Editor in Chief, Managing Director, Promoter of Diary Times. As a Female Journalist, With My Experience of More Than Nine Years, I Tell You Every News of Himachal Pradesh From The Ground Level With Absolutely Accurate and Correct Information, Be it the Politics of Himachal Pradesh or the Ground Reality, My Perspective On Every News Will Give You Assurance. I Assure You That Every News of Mine Will Comply With the Expertise and Fact Checking Policy.