Hyderabad : Krishi Co-operative Urban Bank Ltd., Secunderabad, was closed down on 11.08.2001 without making payments to the depositors of the Bank. In this connection a criminal case was registered at Mahankali police station, Hyderabad and it was investigated by CID Police, Hyderabad.
After registration of the case, the CID police attached the properties of the Bank and it’s Directors. Further, for the benefit of the depositors of the Bank, the court had authorized the official Liquidator of the Bank to auction some of the attached properties. Accordingly the Liquidator auctioned certain properties of the Bank & accused persons and realized money to distribute the same to victim depositors.
So far 09 Schedules have been conducted and Rs.13.14 crores were paid to more than 700 depositors. Still 173 depositors are yet to receive their deposit money. As per the instructions of the Mahesh Bhagwat-IPS Addl. DGP, CID, TS, Hyderabad, special teams were formed to trace out the 173 depositors. 75 depositors were identified and after scrutinizing their documents, the liquidator has finalized 31 depositors to whom Rs.8,05,919/- need to be disbursed,
Today under the orders of Metropolitan Sessions Judge & Chairman of Metropolitan Legal Services Authority, Hyderabad S. Premavathi in the presence of Secretary, Metropolitan Legal Service Authority Radhika Jaiswal and Mahesh M Bhagwat-IPS, the Liquidator B. Rani distributed Cheques amounting to Rs.6.83.042/- to 23 depositors at Metropolitan Legal Services Authority Meeting Hall, premises of Nampally Criminal Courts.
Addl. DGP, CID Mahesh M Bhagwat appreciated SP, EOW K. Venkata Laxmi, SP PCR Lavanya Naik, DSP Venkat Reddy. A. Laxminarayana, Inspector Muralikumar and their team’ for their efforts ADG CID while addressing depositors cautioned them for taking precautions in depositing money with RBI recognized non banking financial institutions only. Further efforts to identify left over 100 depositors and to return back around 50 lakh rupees will be continued.
