Pune: The Yashwant Cooperative Sugar Factory, Theur (Taluka Haveli), has come under scrutiny following its Board of Directors' decision to sell 99.27 acres of factory-owned land to the Pune Agricultural Produce Market Committee (APMC). The Farmer Members Action Committee has strongly opposed this move, demanding an immediate stay on the sale and an investigation into alleged financial mismanagement and irregularities.
Committee representatives Vikas Lawande, Alankar Kanchan, Lokesh Kankate, and Rajendra Choudhary submitted a formal memorandum to the Sugar Commissioner urging intervention.
14 Years of Financial Mismanagement & Unresolved Debt
Yashwant Sugar Factory has remained non-operational for 14 years due to financial mismanagement and rising debts. The factory is owed nearly ₹13-14 crore from Rayat Sarva Seva Sanstha, as revealed in audit reports and an official inquiry under Section 83 of the Maharashtra Cooperative Societies Act.
Additionally, in December 2014, an authorized officer had held the former Chairman and Board of Directors accountable under Section 88 for financial irregularities. In February 2015, a recovery notice under Section 98 was issued by the Regional Deputy Director (Sugar), Pune Division, demanding repayment of ₹14 crore. However, neither the Sugar Commissioner’s office nor the current board has initiated any recovery proceedings.
Violation of Cooperative Laws & Allegations of Misconduct
The Farmer Members Action Committee has accused the current Board of Directors of bypassing cooperative laws by failing to seek member approval for the land sale. They claim:
The land is under Maharashtra State Cooperative Bank’s control, yet the sale proposal was made without the bank’s approval.
Members were not provided with financial statements, balance sheets, or meeting notices before the AGM.
The factory’s financial liabilities have not been transparently disclosed to members.
No public auction process was followed, raising concerns over transparency.
Farmers Demand Immediate Stay on Land Sale
The committee argues that the factory owes over ₹25 crore in dues, yet instead of recovering outstanding amounts, the board is rushing to sell off factory assets.
In their written demand, the committee has urged the Sugar Commissioner to place an immediate stay on the land sale within two days and conduct a thorough investigation into financial mismanagement, loan recovery delays, and potential misuse of cooperative laws.