By Manoj Kushwaha and Dhananjay Mishra
Nafed AGM on 23rd September in NCUI Auditorium in N Delhi was quite eventful with the board resolving to tender collective resignation in order to allow government to reconstitute the interim board.
As is widely known, nafed is passing through a bad phase where questions about its sustainability are being talked about.
Talking to Indiancooperative.com, one of the Directors of Nafed Mr Dipak Dwivedi said that government is not doing enough for nafed. The agri cooperative has agreed to all the conditions laid before it. We gave 51 per cent share to government in the hope that govt would step in to save the situation. But neither does it help nor punish them who has brought nafed to this pass, Mr Dwivedi added.
In the AGM,according to sources participants were ready to accept conditions, which would give the government far greater control of the organization. If the proposals are accepted, the government would also ensure that Nafed is not allowed to indulge in any non-core activities, especially of the nature of reckless tie-up businesses.
Topping the list of governmental conditions was transfer of 51% equity in favour of the government till the loan is repaid to the agriculture ministry for proper supervision and financial discipline.
Other conditions include changes in the by-laws of Nafed so that it restricts itself to the core agri activities. Curtailing the power of the Chairman and board was third issue.
AGM which took place on 23th paved way for government intervention. Ball no rests in the court of Central Registrar who can constitute an interim board and revive the pride of cooperatives sooner than later.