Bhubaneswar: The State government has constituted a committee to allow the sale of immovable assets of the cooperative societies.
The committee which was formed under the direction of State Co-operation Minister Atanu Sabyasachi Naik, will be headed by the principal secretary of the department with other senior officials as its members.
Similarly, the deputy registrar of the Cooperation Department will be the convener of the committee.
The main function of the panel is to examine the proposal regarding the sale of assets and send it to the government for approval.
The registrar will take action soon after receiving the consent from the government.
The Committee will meet once in three months to discuss the proposals from the registrar.
Earlier, Section 12-A of the Odisha Co-operative Societies Act, 1965 empowered to sale of both movable and immovable properties.
The government found that some cooperative societies were illegally selling the properties by ignoring the interests of the society.
Henceforth, the societies cannot sell or lease the property of the cooperatives arbitrarily as before, Minister Atanu Sabyasachi Nayak. Now, permission has to be taken from the committee before doing so.
