State team to enquire into co-op jewel loan scam

CHENNAI: The State government has formed a team to enquire into the irregularities in the jewel loans obtained in the cooperative societies and to submit the report by November 20.

In a letter by the Registrar of Cooperative Societies to the district cooperative banks and officials of cooperative department, the details of the committee, their work and the list of the districts has been listed in detail. The team headed by a Deputy Registrar will inspect not just the gold jewellery under 5 sovereigns eligible for gold loan waiver but all the 100 percent jewellery kept in all societies including Chennai.

The team which also consists of Superintendents, gold appraisers will inspect whether original gold jewels were pledged to obtain loans and will submit the report to district Joint Registrars of Cooperatives Societies and the report of all districts will be consolidated and be submitted to Registrar by November 20.

After Minister for Cooperation I Periyasamy assured that the government will find out irregularities, the Cooperative Department has been looking into the matter. Industries Minister Thangam Thennarasu, while addressing the media, on Sunday, accused AIADMK functionaries appointed as heads of the cooperative societies as being involved in the scam. When asked about the need for CB-CID inquiry in this case, Thennarasu replied that the Minister for Cooperation himself announced that in a cooperative society in Thanjavur district, the scam involves more than 500 sovereigns of jewels. This is just the tip of the iceberg and more such cases will be revealed, the Minister said.

The team also comprising Superintendents, gold appraisers will inspect all aspects and submit a report by Nov 20