VPK to challenge MD suspension order

PONDA: The VPK urban cooperative credit society has announced that they will challenge the order of the registrar of cooperative societies directing it to suspend the services of its managing director (MD) Ashok Gaude immediately and appoint a new person in his place.

The society has convened a special general body meeting on Sunday to decide its future course of action.

Addressing a press conference at their Mardol headquarters, society chairman Surya S Gaude said the charges against the MD, Ashok Gaude, are baseless as the society has granted loans as per the resolutions passed by the society and instructions issued by the government. All the 12 members of the society along with Ashok were present at the press conference.

The registrar has recently directed the society to suspend the services of Ashok and convene a special general body within 30 days. The order was passed on September 18, after hearing a petition filed by former secretary Damodar Mardolkar and others. An inquiry report by the special auditor of cooperative societies Sangeeta Naik had also pointed out the 'alleged' illegalities by the society such as granting loans of Rs 60 lakhs by violating a limit of Rs 25 lakh.