Odisha Cooperative Bodies Managing Panels Suspended Over Financial Irregularities

Bhubaneswar: The Odisha government has suspended the management committees of two cooperative bodies – Odisha State Cooperative Bank (OSCB) and Odisha Cooperative Housing Corporation (OCHC) – amid allegations of corruption and financial irregularities.

“In exercise of powers conferred under sub-section 7 of section 32 of Odisha Cooperative Societies Act 1962, do hereby place the Committee of Management of the Odisha State Cooperative Bank Ltd., Bhubaneswar, under suspension with immediate effect,” Registrar of Cooperative Societies (RCS) said in an order.

During the period of suspension of the committee, the commissioner-cum-secretary of Cooperation department will manage the affairs of the apex cooperative bank, it added.

In another order, managing director of the bank Pravu Kalyan Pattnayak mentioned that T Prasad Rao Dora, who moved the Orissa High Court against the order of the state government, ceased to be a member of OSCB managing committee . “It has been found that you have incurred disqualification under section 28(3-a) of the Odisha Cooperative Societies Act, 1962 to continue as a member of the committee of management of OSCB, Bhubaneswar as well as President of the committee,” it said while referring to the inquiry made on the alleged disqualification and financial irregularities by RCS.

He ceased to be member of the committee of management of OSCB with immediate effect due to the disqualification, it added.

On July 31, Cooperation Minister Pradeep Bal Samanta told the Assembly about misappropriation of funds to the tune of Rs 224.61 crore in different cooperative banks across the state. The irregularities were detected during audits of OSCB, 17 Central Cooperative Banks (CCBs), and 13 Urban Cooperative Banks (UCBs), he added while replying to a query from Congress member Tara Prasad Bahinipati.