Return deposit, demand coffee planters co-operative society members

Return deposit, demand coffee planters co-operative society members

Coffee Planters’ Co-operative Society members came down heavily against the administrative board for not returning the fixed deposit (FD) amount of the planters. During the annual general body meeting of the society held under the chairmanship of President M B Devaiah, at Cauvery Kalakshetra in Madikeri on Thursday, they questioned about the FD and demanded to return their amount at the earliest.

Member Chakkera P Joyappa said that in the year 1998-99, planters had saved Rs 400 per coffee bag (50 kg) as fixed deposit (FD). Later, as the society suffered loss, planters decided to donate Rs 100 for the development of society. Though they demanded to repay Rs 100 out of remaining Rs 300, the society didn’t respond positively. Because of internal problems, the society could not face the competition. It has to give Rs 100 at least now. If not now, planters would never get their deposit, he said.

The Court also had directed the society to replay the amount to planters and fill the loss it had ordered to seize the assets of the society. However, to save the society, planters solved the issue with mutual understanding at that moment. Though it was decided to repay Rs 200 in the last meeting, only few have got the benefit. Many members, who believed the society, have lost thousands of rupees, he said. 

Society President M B Devaiah promised of returning the FD after getting the society into the track of benefit. In 2013- 14, the society has earned a benefit of Rs 58.56 lakh, including Rs 47.49 lakh  in Hunasoor industry, Rs 11.07 lakh in Hebbale industry. But, it had spent Rs 63.70 lakh for repayment of loans at DCC Bank and administrative purpose. In fact, the society again suffered a loss of Rs 5.14 lakh last year, he said.

Vice President B Tata Changappa, Managing Director G R Vijaykumar, directors and members were present.

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