Breach of trust
Madansingh Shekhaawat
(Querist) 01 March 2013
This query is : Resolved
In 1981 Accused and president of one cooperative credit society (registered) joined his service as a teacher in Mumbai based school where Complainant lady was already working as a teacher since 1970. In around 1984 Accused and president formed a cooperative credit society and offered complainant lady a membership. Considering his request and being a colleague lady became a member of his cooperative credit society. There, after in 2001 Complainant lady's husband got retired from his job. Since then Complainant lady and Accused already had developed a family friendship. Therefore in 2001 accused persuaded complainant lady to invest her husband's retirement funds in the cooperative credit society being run by him and his wife and offered a higher interest rate on her investments if she made. Initially complainant lady received interest payment regularly from cooperative credit society.
Later in 2005 also complainant lady opted voluntary retirement from school due to her knee problems. And when accused learned complainant's health issues he used to send one Mr. Kadam, an accountant from his cooperative credit society at complainant lady's home to pay the interest payments cheques, extending the investment period and issuing the reinvested deposit certificates. Complainant lady was happy with such services the cooperative credit society rendered.
Everything was going well till 2010 but in the month of February 11, 2010 when complainant lady contacted on telephone accused and expressed her desire to withdraw the matured amount of Rs. 400,000/- (Four Lac). Accused and president of cooperative credit society immediately sent the same Mr. Kadam at complainant lady's home and i Mr. Kadam informed that the president have requested you not to withdraw the deposits which are already matured and asked you to keep that amount of Rs. 400,000/- (Four Lac) reinvested with our cooperative credit society for at least for further 24 months as our cooperative credit society is going through financial crisis and also year ending audit is in process.
Considering their problem as genuine and good relations and believing on accused and president's word complainant lady agreed to reinvest the said amount of Rs. 400,000/- (Four Lac) for further 24 months, i.e. till 2012 and after four days cooperative credit society issued her the fresh certificate for reinvestment through the same Mr.Kadam's hand delivery.
In 2012 after maturity of said reinvested amount's period when complainant lady's husband went to withdraw the amount with cooperative credit society's office he was told that the certificates which he braught are fake and the person Mr. Kadam who delivered the certificates have committed suicide after having found defrauder and guilty of his embezzlement. Hence your investment have got lost and sunk. And our cooperative credit society is not responsible for these fake certificates.
After learning this complainant lady contacted the accused and president of cooperative credit society and requested to refund her invested amount but despite several requests also he owns up ignorance.
Please guide how to get the invested amount back from cooperative credit society? Thank you.
ajay sethi
(Expert) 01 March 2013
file complaint before the consumer forum against cooperative credit society . accused was [president of soiety and mr kadam was accountant .
also file police complaint against crdit society . you had bought the certifcates in good faih from office bearers of the society .
Raj Kumar Makkad
(Expert) 02 March 2013
This is a fit case wherein the accused persons can be brought under criminal law of land. Once criminal case is filed against them and they are arrested, the whole issue shall automatically get resolved as desired.
Sudhir Kumar, Advocate
(Expert) 02 March 2013
cheating case at thana.
Civil suit against the so called President and the successors for Mr Kadam for recovery
complaint to registrar for violation of bye law . You have not stated how often elections were held.
Madansingh Shekhaawat
(Querist) 15 October 2013
Concerned police station's officer who has been handed over this matter for investigation is denying to register the FIR and advising the complainant to Lodge the complaint with commissioner for cooperation and registrar, cooperative societies.
