PANAJI
The State government has appointed a new Committee of Administrators to take over the affairs of the bankrupt Visionaries Urban Co-operative Credit Society, Loutolim for a six-month term and investigate its position.
An order issued by the Assistant Registrar of Societies (South Zone) Suraj Ghaisas said Subhash D Gawas as chairman and Maria Vanda Gomes and Joyce Veyona Dias as members will constitute the new CoA which will immediately take over the complete charge of the assets, books and records of the society by preparing an inventory.
Gawas who heads the CoA is a government official while Gomes and Dias are representatives of the Credit Society's depositors.
The Gawas-headed CoA has been put in place as the previous CoA which was appointed back in 2020 had shown reluctance to take full charge and conduct audits.
Dozens of depositors of the Society have been running from pillar to post for over three years seeking the intervention of the government to fix responsibility for the collapse of the society and also recover money from borrowers.
The intervention of the government through the RCS has borne little fruit and depositors, mostly from Salcete, continue to wait hopelessly to recover their hard-earned money.
