|
(XYZ) Cooperative Housing Society Limited was established under registration of cooperative society act in 1978. At the best of my information, all executive powers and authorities of the society were vested and executed by Mr (A) who was executive committee chairman as well as builder of our society since inception till date. Mr (A) was also an active member of a political Party and former municipal corporator. As a Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd. Mr. (A) has taken loans of Rs. 8,76,000 dated 17.10.1980 and Rs. 2,05,000 dated 27.10.1982 from “ (B) FINANCE COMPANY against mortgage of plots / lands / properties (XYZ) Co. Ho. Society Ltd. by signing as Mr.(C) with fake power of attorneys of all original members of (XYZ) Co. Ho. Society Ltd. Chairman / Executing Committee was persistently making defaults and was negligent in the performance of the duties which are prejudicial to the interest of the co-operative society members.
On other side, (B)FINANCE COMPANY has been (gross) negligent, reckless, and wilful or has intentionally violated the guidelines for mortgage of the property, while approval and disbursement of above loans to Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd. Because these loans were approved by (B)FINANCE COMPANY without any written consent, agreement or actual assessment / verification of power of attorneys from all original members of the (XYZ) Co. Ho. Society Ltd. on mortgage deed in year 1980.
Further to this; (B)FINANCE COMPANY has not even bothered to ensure the identity and address of main applicants witness or guarantors of loans. Because on loan documents signatures are as Mr.(C) with the same signature as our chairman Mr (A) has done on most of our society’s documents like allotment letters, share certificates, receipts of payments etc. He persistently signed as Mr.(C) with criminal intentions for making personal gains and fraud on the name of Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd. Moreover; (B)FINANCE COMPANY has never ascertained authenticity of Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd. Either prior to approval of loans or even after disbursement of loans in 1980 to 1982. This shows that this is a criminal conspiracy jointly executed by Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd. and respective loan approving Officers of (B)FINANCE COMPANY. These loans were against Interest, and are prejudicial to all original members of the (XYZ) Co. Ho. Society Ltd.
Above facts were discovered when all original members of (XYZ) Co. Ho. Society Ltd. received recovery notices from “The (B)FINANCE COMPANY on 22.10.2010. They responded to (B)FINANCE COMPANY, with copy of details of payments made by them in Cheques / Cash in favour of (XYZ) Co. Ho. Society Ltd., With receipts in full; These payments were made towards allotments / purchase & occupation of Plots of (XYZ) Co. Ho. Society Ltd. They are also in possession of original share certificate, Sale deeds, NOC & receipts of payments made to (XYZ) Co. Ho. Society Ltd. (B)FINANCE COMPANY has never responded further to this matter to him or to any another member of the (XYZ) Co. Ho. Society. In contradiction; (B)FINANCE COMPANY‘s respective officer has verbally threatened for attachment of our respective plots / properties due to non-repayment of loans.
Also due to this irresponsible approach / wilful cooperation / corruption / criminal conspiracy between officers of (B)FINANCE COMPANY, and Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd.; Chairman has absconded to unknown place (Abroad) in year 2011. In other words he was given safe passage without any criminal charges levelled against him by (B)FINANCE COMPANY. He also left without any intimation, notices, resignation or delegation of powers of executive committee of (XYZ) Co. Ho. Society Ltd. to any of original member of (XYZ) Co. Ho. Society Ltd.
Noticing above facts all residents and original members of the society has passed a resolution in a special general meeting to dissolve the Chairman / executive committee unanimously on 04.12.2011, with original copy to registrar of cooperative societies. Still registrar has not acted or responded on this dissolution letter.
They have also filed RTI, with registrar of cooperative societies to get the copy of all documentary evidences of this loan and financial credentials of (XYZ) Co. Ho. Society Ltd. As per records received by RTI, not a single original member of the society has signed any consent, agreement or power of attorneys as acceptance of this loan. All signatures on loan documents are either fake, forged or signed on behalf of by Mr(C) as a power of attorney against original member’s name.
Due to non-recovery of loans given to Chairman/ Executing Committee of (XYZ) Co. Ho. Society Ltd. in period year 1980 to 1982. M/s (B)FINANCE COMPANY, has registered encumbrances of Rs. 10,81,000 (Rupees Ten Lacs and eighty one thousands) in City survey Property Registration card showing encumbrances of Rs.1081000 on all plots / lands / properties of (XYZ) Co. Ho. Society on 11.03.2011. This is done after 30 (Thirty) Years of first principal disbursement of Rs. 8,76,000 dated 17.10.1980. This unreasonable delay also shows mala fide intent of M/s (B)FINANCE COMPANY to harass the original members of (XYZ) Co. Ho. Society Ltd. By enforcing to pay the loans with exorbitant interest, without which they refuse to withdraw encumbrances in Property Registration card and issuance of Non-encumbrance certificate.
As all ordinary members of (XYZ) Co. Ho. Society are neither party / applicant/ member/ beneficiary nor guarantor to the above loans taken by Chairman/ Executing Committee of (XYZ) Co. Ho. Society ; Considering above facts they are not in position to take any charge, responsibilities, interest, encumbrances, lien or liabilities of the Society’s Chairman/ Executing executive committee and their decisions for the said loans from (B) FINANCE COMPANY.
Please suggest he further course of action to achieve following.
i) Government’s (Registrar) approval for Dissolution of executive committee of (XYZ) Co. Ho. Society .
ii) Notice by Government (Registrar) / Court of law on (B)FINANCE COMPANY for Withdrawal of all encumbrances in Property Registration card of (XYZ) Co. Ho. Society by (B)FINANCE COMPANY.
ii) Order by Government (Registrar) / Court of law to issue Non-encumbrance certificate by (B)FINANCE COMPANY in respect to each plot owners of (XYZ) Co. Ho. Society.
iii) Criminal Prosecution in court by Government (Registrar) for Chairman/ Executing Committee of (XYZ) Co. Ho. Society And disciplinary action against respective officers of (B)FINANCE COMPANY.
They should be punished severely so that culprits of similar kind would be afraid to indulge in such criminal activities.
|
|
|
|
|
