New Delhi: Following complaints of irregularities in thrift and credit societies registered in the capital, the Delhi govt has decided to conduct a thorough inquiry into the accounts of each of them.Officials said the registrar of cooperative societies of Delhi govt has asked all registered thrift and credit societies to submit balance sheets, details of loans and advances, investments made, and property holdings, apart from movable and immovable assets held by them, within seven days. There are nearly 550 registered thrift and credit societies in the capital.According to officials, the registrar of cooperative societies received several complaints in the past few months alleging non-payment of fixed deposit receipts and other member deposits, failure to conduct elections of the managing committee within the prescribed time, non-conduct of statutory audits and alleged misappropriation and embezzlement of public funds. Officials said that to strengthen monitoring and ensure compliance with the provisions of the Delhi Cooperative Societies Act, 2003, and the Delhi Cooperative Societies Rules, 2007, all thrift and credit cooperative societies operating in Delhi have been asked to submit detailed information about their financial health and functioning, including information on the total number of members, current members in the managing committee, and employees.“We have also asked the societies to submit all complaints, including those received from members regarding non-payment, details of ongoing legal cases and litigation, if any, and a copy of their service rules, which will help us understand their functioning,” said an official.
