PBI Protests Against Cooperative Fraud in Yavatmal

On March 17, a protest demonstration was organized by Proutist Bloc, India (PBI)) against irregularities in the Rajalakshmi Multi-State Cooperative Society located in Yavatmal, Maharashtra.

On this occasion, under the leadership of Proutist Bloc, India's Vidarbha Convener Madhukar Nistane, a memorandum addressed to Union Cooperation Minister Amit Shah was submitted through the District Collector. The following demands were raised during the protest, and memorandum:

1. Conduct an inquiry into the corruption of crores of rupees in Rajalakshmi Multi-State Credit Cooperative Society and immediately suspend Managing Director Kshitij Tayade.

2. Dissolve the Rajalakshmi Society board.

3. Stop the brutal recovery methods that are driving debtors to contemplate suicide and ensure action as per RBI norms.

4. Order an Enforcement Directorate (ED) investigation into the assets of the society's current president, former presidents, and managing director.

Earlier, on June 13, 2022, aggrieved citizens had staged a protest against Rajalakshmi Multi-State Credit Cooperative Society at Jantar Mantar in Delhi.

Based on the Audit Report of the Cooperation Commissioner and the inspection report of the Assistant Registrar, Proutist Bloc, India had previously followed up with the Joint Secretary and Central Registrar of Cooperative Societies, Delhi.

Nistane alleged that the appointment of Managing Director Kshitij Tayade is illegal. He further claimed that the Tayade family members have established dominance over this credit cooperative society, and have amassed crores of rupees. He stated that the agitation will continue until a high-level investigation is conducted and action is taken against the society.

Activists present during the protest included Proutist Bloc, India's State President Vivek Dehankara, District President Arun Kapile, Yashwantrao Bonde, Manikdas Tonge, Vishwabandhu, Ravi Kuthe, Mohan Pawar, Pandurang Kiranpure, Ashwin Dafale, Krishna Tekam, and others.