Ujjain (Madhya Pradesh): Cooperative credit societies cheated small business tax savers of lakhs of rupees and ran away closing their offices. Following a victim’s complaint, the Madhav Nagar police registered a case against cooperative society chairman.
Police said that members of Anshdaan Co-operative Credit Society opened a branch in Patidar Complex of Freeganj and collected Rs 100 to Rs 200 from businessmen and others on the promise of returning the money in a year with interest. After a year, society operators handed them fake cheques that were rejected by bank.
Meanwhile, society operators too escaped. Zakaria of Maulana Azad Marg, Jansapura, reached police station along with 35 other people and filed a complaint against the cooperative society chairman and directors. He told the police that the accused had committed fraud of over Rs 10 lakh.
TI Manish Lodha said that after examining the complaint, a case was registered against the chairman and directors of the cooperative credit society under sections 406, 409 and 420 of the IPC and under Section 5-1 and 4-1 of the MP Right of Peoples’ Interests Act 2000.
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