Balasore, June 17: More than 100 depositors have alleged that they were cheated of nearly ₹55 lakh by a cooperative society that had been collecting daily savings from poor and low-income workers for several years in Odisha's Balasore district.
The allegations have been levelled against Coast Canal Multipurpose Cooperative Society, operating in Saharia village under Bhogarai block. Aggrieved depositors have lodged a complaint at Bhogarai Police Station, seeking action against the society and recovery of their money.
According to the complainants, the society had been collecting daily deposits ranging from ₹50 to ₹500 from villagers under various savings schemes. Many of the depositors, mostly daily wage earners and economically weaker individuals, had been regularly investing their money with the society for over 15 years.
The affected beneficiaries alleged that despite the maturity of their deposits, the society has failed to return their savings. As a result, hundreds of depositors have been left worried about their hard-earned money.
Reports indicate that around 600 beneficiaries had deposited funds with the cooperative society over the years. With the repayment period having expired, depositors claim that repeated requests for the release of their money have gone unanswered.
Demanding justice and immediate intervention by the authorities, more than 100 affected depositors gathered in front of the society’s office and staged a protest.
Police have received the complaint and are expected to investigate the allegations. Further action will be taken based on the findings of the inquiry.
