Finance
The state administration has formed a committee to facilitate the selling of cooperative societies’ immovable assets.
The group, which was constituted under the guidance of State Cooperation Minister Atanu Sabyasachi Naik, would be led by the department’s principal secretary and also include other top officials.
Similarly, the committee will be convened by the Cooperation Department’s deputy registrar.
The panel’s principal job is to review the asset sale proposal and send it to the government for approval.
The registrar will take action as soon as the government gives its approval.
The Committee will convene every three months to discuss the registrar’s proposals.
Section 12-A of the Odisha Co-operative Societies Act, 1965 previously authorized the sale of both moveable and immovable property.
The authorities discovered that some cooperative societies were selling properties illegally while ignoring the interests of the society.
Minister Atanu Sabyasachi Nayak has said that societies will no longer be able to arbitrarily sell or lease cooperative property. Before doing so, approval must be obtained from the committee.
