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Andhra Pradesh
PUCL wants CBI probe into coop banks
By Our Staff Reporter
HYDERABAD,
NOV. 23.
The People's Union for Civil Liberties (PUCL) has demanded a CBI probe into the alleged financial mismanagement in several cooperative urban banks and non-banking financial companies (NBFC) which went bankrupt.
Addressing a press conference here on Tuesday, the PUCL president, Keshava Rao Jadhav, the general secretary, Jaya Vindhyala, and the vice-president, Chandrasekhar, said depositors who had lost lakhs in such bankrupt financial institutions were suffering because of Government inaction.
The PUCL leaders alleged that directors of such companies and officials in the department of company affairs had colluded to deprive the depositors of their rightful savings. The silence of the Government was surprising, they said wondering how the directors and others were going scot-free.
Unless a comprehensive enquiry was ordered into the financial mismanagement, facts would not come out. The PUCL leaders called upon the depositors of bankrupt banks to approach them to launch a struggle.
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