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Q.Co-operative society no returning matured money

Q. Co-operative society no returning matured money

My father had invested some 10 lak in Adarsh credit co-operative society that matured in November and he has been trying to get that payment from them since then. They have closed NEFT transfers and they do not respond to calls. Recently their founders have also been arrested in the fraud case of diverting money to private companies.

So, this is a case of fraud. I want to know, if going by legal way help in getting that money from them? Like, if they have money then they should return it. Or should i assume that it as a loss and forget it.
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A. Dear Mr Jain,
It varies from case to case and state to state.
Now in some states the Government had set a commission to look in the matter and they are returning the money to the depositors.It all depends where you are and how the Government is looking in to this.
The other option for you is to file the case.
Shanti Ranjan Behera
Advocate

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Shanti Ranjan Behera

Experience: 22 Year(s)

Responded 3 months ago

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A. Dear sir absolutely Ur money will be return u . But u should u will need to file case against them

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 3 months ago

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A. Dear Sir
start legal fight it will result definitely

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