CUTTACK: In a significant decision, the Orissa High Court has held as illegal the advertisement issued by the state Cooperation Department for the recruitment of the managing director of Odisha State Cooperative Bank (OSCB). The state government had, in an affidavit, submitted that as a matter of practice, it has been appointing the managing director of OSCB.
Taking serious note of it, Justice AK Mohapatra said, “If that is the practice adopted by the government, then this court has no hesitation in concluding that such a practice is an illegal and erroneous practice in view of the provisions of the Odisha Cooperative Societies (OCS) Act, 1962 and Bye-Laws of OSCB”.
The Cooperation Department published an advertisement inviting applications by December 22, 2022. Anam Charan Rout, a member of the Kendrapada Printing and Publishing Cooperative Society filed a petition challenging the advertisement. Advocate Kshirod Kumar Rout argued on the petitioner’s behalf.
Acting on the petition, the high court had in an interim order on January 4, 2023, directed that the cancellation of the advertisement will be subject to the outcome of the petition. While disposing of the petition on Tuesday, Justice A K Mohapatra said, “It is directed that the entire matter be placed before the committee of the management of the Odisha State Cooperative Bank Limited within two weeks from today.
“The committee of the management of the OSCB shall do well to take a decision in accordance with the Bye-Laws as well as the provisions of the OCS Act, 1962 without being influenced by any other factor. Let the exercise be completed within two months from today,” the order stated.
According to the provisions, the committee of management of OSCB is the appointing authority of the managing director. However, such appointment is subject to the approval of the Registrar of Cooperative Societies.
Acknowledging the circumstances under which the advertisement was issued, Justice Mohapatra observed, “This Court believes that the procedure followed in the present case was under the exceptional circumstance when there was no committee of management. Now the scenario has changed and after election, there is a committee of management of the bank. In the aforesaid factual backdrop and analysis of the legal position, this Court is of the considered view that the dispute involved in the present case can very well be resolved by remanding the entire issue back to the committee of management of the OSCB.”
CBI court to finish trial in Ponzi case in 6 months
CUTTACK: The Orissa High Court has rejected the bail plea of Ranvajay Singh Baghel, accused in the multi-crore Sai Prakash Financial Advisory Services Pvt Ltd Ponzi scheme case. Baghel is in custody since January 31, 2020. However, the court has directed the Special CBI court in Bhubaneswar to complete his trial in the case within six months.
The company having its offices and other parts of the state had collected huge amounts of money from the public by luring them to deposit in illegally-run money circulation schemes promising high returns. In the process, a huge amount of money to the tune of Rs 7,51,04,547 was collected allegedly with the sole intention of cheating the gullible depositors.
Pushpendra Singh Baghel, a co-accused in the case, was the founder and chairman of the company. Ranvajay was the brother of Pushpendra and also a director of the company.
While rejecting the bail plea on Tuesday, Justice Sashikanta Mishra said, “Notwithstanding no commencement of the trial and continued detention of the petitioner in custody for a long period, I am unable to persuade myself to admit him to bail given the nature and seriousness of the allegations at least at this stage. However, the court below is directed to take all possible steps to commence trial at least against the petitioner and to conclude the same within six months,” Justice Mishra ordered.