‘Misappropriation’ of funds: JK Cooperative Union faces financial crunch

Home » Kashmir » ‘Misappropriation’ of funds: JK Cooperative Union faces financial crunch

By Fast Kashmir on 19/03/2018.

‘Misappropriation’ of funds:  JK Cooperative Union faces financial crunch


Srinagar, Mar 19: Jammu Kashmir Cooperative Union is facing huge financial crunch in wake of alleged misappropriation and embezzlement of funds by one of the top officials of the Union.

If sources are to be believed, authorities have decided to probe the allegations leveled by some of the employees against the incumbent General Secretary GD Bakshi that the said official has embezzled huge funds up to the tune of Rs 85 lakhs.

Sources added that the matter with regard to allegations came up for discussion in the review meeting of the Union that was presided by Secretary to Government, Cooperative Department.

Cooperative Union employees who are without salary from past 11 months have alleged that General Secretary Jammu Kashmir Cooperative Union in a bid to fill his coffers created a fictitious Centre at Rajouri.

“Jammu Kashmir Cooperative Union has only two Centrs in the State. One is at Jammu while another is at Srinagar and they are known as Centre for Cooperative Management. But the incumbent General Secretary opened up another Centre at Rajouri and after looting fund there, closed it abruptly,” said the employees and demanded a thorough probe.

Despite repeated attempts, the officer in question and the concerned Minister could not be contacted for comments. (CNS)