Daijiworld Media Network - Udupi (SP)

Udupi, Sep 28: A complaint has been filed in the town police station here against directors of a Mysuru-based society that has a branch here, based on complaints made by two customers of the society. 17 persons have been named as accused in the complaint.

Lokesh S from Mysuru, Suresh K from Mandya, Thimmayya from Bengaluru and 14 others have been named in the complaint by the customers of the society who have accused the directors of the society of duping them. The complainants happen to be Ananth Nayak from Chantaru, Brahmavar, and Janardan, resident of Moodabettu, Kodavoor. They have said that Lokesh had opened branch of Avishkar Jeevan Multipurpose Cooperative Society Ltd in the city. They claim that Lokesh had requested them to canvass for deposits and to help in improving capital base of the society, by offering attractive dividend and interest. The complainants and their relatives had introduced a number of people to the society and made them members of the society. Rs 10,000 each was remitted to the society towards capital, and the total money so far remitted might exceed three crore rupees, they say.

It is said that even after maturity of the deposits, the society has failed to pay interest, dividend, and principal. Every time the society was approached seeking repayment, the staff used to put forward one reason or the other. Several depositors had complained to registrar of cooperative societies besides filing suit in consumers court. In the general body of the meeting, the accused posed life threat to the complainants, it is said.

The complainants have said that the accused used money for their personal benefit and cheated people by not paying share capital and dividend. "Now, the said society has been closed, and another society, 'Sai Multipurpose Cooperative Society' has begun functioning. When we went there and queried about our dues, the staff posed threats to us," they stated.