HYDERABAD: Justice Madhavi Devi of the Telangana high court has stayed the inquiry report submitted by the special grade deputy registrar on alleged misappropriation of funds and illegal transfer of plots in the Jubilee Hills Co-operative House Building Society Ltd.
After several warnings from the high court to get ready to face contempt proceedings , the inquiry officer furnished the report to the court on Sept 7, 2024, which clearly stated illegalities in the housing society.
According to the inquiry report, the irregularities carried out amounted to several crores of rupees, which severely depleted the society’s funds.
The report ordered recovery of the money from the erstwhile committee members to the tune of 17.16 crore, which relates to the transfer of additional land to 23 plot owners.
Additionally, the report stated that 2.37 crore, originally earmarked for construction of a library, was diverted towards the construction of an apartment by Sai Teja Constructions.
Challenging the report, K Ramesh Chowdary approached the high court and he contended that the inquiry officer was appointed on March 23, 2022 for conducting an inquiry and the tenure of the inquiry officer was extended up to Nov 19, 2022.
The maximum period allowed for completion of inquiry was four months. But, the officer disclosed the report in 2024 and it was a clear violation of provisions of the Act.
