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Loan Recovery Cases: Last Date Extended

Published: 24th December 2015 05:55 AM  |   Last Updated: 24th December 2015 05:55 AM   |  A+A-

THIRUVANANTHAPURAM: The last date for filing of arbitration cases regarding the recovery of loan dues in the cooperative institutions has been extended to December 31.As per the order issued by the Registrar of Cooperatives, officials concerned have been asked to initiate urgent steps to file arbitration cases on a priority basis.The Director Board of the Cooperative Societies and chief executives have to take care of filing arbitration cases of dues pending for more than there years as the date will not be extended again. District joint registrars and assistant registrars should intimate this to the  Societies. Unit inspectors have to inform this at the society level and report should be submitted in the evaluation meetings.

District joint directors and assistant  directors(Audit) have to inform the societies about the urgent necessity of filing cases. However, with societies filing all such cases together there will be a dearth of sufficient   officials to hear the cases.As per the Kerala State Cooperative Amendment Act, 2013, it is mandatory for filing all arbitration cases in a time-bound manner. The societies which had lost the opportunities to file the cases by the time the amendment was made to the Act, were given one year extension in time limit.



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