Home ODISHA LATEST Govt seeks report on audit of self help coops in 7 days

Govt seeks report on audit of self help coops in 7 days


Reported by Chinmaya Dehury/Eedited by Sandeep Sahu

Bhubaneswar, Aug 30:

While the opposition parties are crying for action against fraudulent chit fund companies which have duped thousands of investors in the state, the Odisha government has asked the Auditor General of Cooperative societies to furnish a detailed report on the present position of audit of cooperative societies registered under the Odisha Self-Help Co-operative (OSHC) Act, 2001 within seven days. It has also asked for a report on the expected date of completion of the audit process.

Repealing the OSHC Act, 2001, the Odisha Government had promulgated an Ordinance in the first week of June to bring all co-operative organizations under the said Act within the purview of the Odisha Cooperative Societies Act, 1962, to have a single cooperative act in the state.

The ordinance requires all 1634 self-help cooperative organizations to amend their Articles of Association and reconstitute their Board of Directors within three months. Besides, the State Government will be able to take up audit of these cooperatives and examine  their Books of Accounts.

“You were advised to complete audit self-help cooperatives registered under OSHC Act, 2001 within one month. But, till date, no information has been received by this department on the progress made in the audit of the accounts of the self-help cooperatives,” said G Satpahty, deputy director of Cooperative department in a letter to Auditor General of Cooperative Societies.

According to sources, of the 1,634 self-help cooperative societies, nearly 314 are into direct credit business and another 600-odd organisations have branded themselves as multi-purpose cooperative societies and continue with their credit-deposit business.