Nirmal Ujjwal Society directors allege pressure and threats from some depositors
Directors of the Nagpur credit society say a few depositors are pressing them to return their own money first, while all dues are being repaid in instalments.
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After the Nirmal Ujjwal Society case, depositors in Nagpur and other areas are now watching the society's present condition closely. It is important to understand what information on deposits is officially available. The website of the Central Registrar of Cooperative Societies carries a regulatory entry on the society and a notice under Section 86.
Depositors' money has been stuck at the well-known Nirmal Ujjwal Credit Society in Nagpur because of what are described as technical difficulties. The directors say that, unlike those of some other institutions, they have not run away, and the society's office has not been locked. On the contrary, the board of directors sits in the office every day and is facing the situation. It has said with full confidence that every paisa of every depositor is safe and will be returned in instalments.
Even so, it is emerging that some self-serving people are trying to exploit the situation. According to information received, some people from Chandrapur are busy serving their own interests in this difficult time. Seeing themselves as saviours of all, they are staging protests with ordinary and unsuspecting depositors. It is alleged that they are putting wrongful pressure on the directors and issuing threats, in an all-out effort to get their own money withdrawn first.
The speeches and rhetoric of these so-called leaders are not for the good of ordinary depositors. They are being used only so that their own stuck money comes out. Using other depositors as cover to serve their own ends is deeply unfortunate and infuriating.
The society's management has clarified that the directors sincerely intend to return the money of all depositors. The amount stuck because of the technical difficulties is being paid out in instalments. If a handful of people pressure the society and withdraw their money first, thousands of other honest and patient depositors could bear the direct loss.
Depositors are therefore being told they badly need to stay patient, without believing rumours or being swayed by those applying pressure. The board of directors is working responsibly and trying to find a way out. The obstacle some people have created to exploit the moment could harm everyone's interest.
Ordinary depositors should therefore unite, oppose such self-serving thinking and help put the society back on track. This is the sentiment being expressed among sensible members.
