Depositors' Savings at Risk as Mungantiwar Demands Police Probe into Credit Society Chandrapur: Former Maharashtra minister and Ballarpur MLA Sudhir Mungantiwar has called on the Chandrapur superintendent of police to launch an investigation into the Nirmal Ujjwal Credit Co-operative Society’s Chandrapur branch, which is allegedly failing to return deposits to thousands of savers. In a formal complaint submitted to authorities, Mungantiwar cited the grievances of depositor Sanjay Jhade and others, who claim the society has not paid matured fixed deposits, recurring deposits, or savings account balances for the past three months. The complaint alleges that the institution has no funds available to meet withdrawal requests, leaving depositors in financial distress. According to the complaint, nearly 2,000 to 3,000 residents of Chandrapur have invested their life savings with the co-operative society. Depositors visiting the branch to claim their money are reportedly being told the institution lacks liquidity. Mungantiwar emphasized that the situation has caused widespread anxiety, particularly among elderly and low-income individuals who rely on these savings for daily expenses. He noted that the society’s head office is located in Nagpur and that multiple complaints about its operations have emerged in recent months. The MLA urged the police to coordinate with relevant authorities to conduct a thorough investigation into the society’s financial transactions and take legal action where necessary to protect depositors’ interests. Copies of the complaint have been sent to the assistant registrar of Co-operative Societies, police inspectors in Chandrapur City, Padoli, and Ballarpur, as well as the Nagpur Police Commissioner.#nagpur #chandrapur #sudhir_mungantiwar #nirmal_ujjwal_credit_cooperative_society #cooperative_societies
