Friday, Mar 11, 2005
Friday, Mar 11, 2005 |
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Advts: Classifieds | Employment | Obituary | Andhra Pradesh
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Hyderabad
By Vikram Sharma
HYDERABAD, MARCH 10. After their dreams were shattered way back in August 2001, the depositors of the scam-hit Krushi Bank are optimistic of getting back their hard earned money someday. Even as the bank's fugitive chairman, K. Venkateswara Rao, still haunts the State police, there appears to be a ray of hope for the depositors, going by the recent move of the Crime Investigation Department (CID) of Andhra Pradesh. CID sleuths, who had seized the properties belonging to Venkateswara Rao after the scam had surfaced, recently filed a petition in the court, requesting auction of some of the property so that the money could be paid to the depositors. "In all probability, the vehicles owned by Rao, which include two Mercedes Benz and four other cars and two-wheelers, will be auctioned by the court by the end of this month," the CID officials disclosed. The total worth of the property seized was around Rs. 19.5 crores, some of which is not claimed by anybody.
Rao's hideout known?
Meanwhile, the police claim that they have certain inputs indicating Rao's presence in a particular country. "We cannot disclose details. All we can say at the moment is that the country where he is hiding has an extradition treaty with India and we are hopeful that he will be in our custody soon," they said. The police had earlier said that Rao had fled the country boarding a British Airways flight bound for London from Mumbai on July 17, a month before the scam surfaced. "I had written several letters to the Reserve Bank of India and the then Chief Minister, N. Chandrababu Naidu. After Congress came to power, I made a representation to the Chief Minister, Y.S. Rajasekhara Reddy, too, but nothing seems to be moving. I did not receive any amount under the insurance scheme of Deposit Insurance and Credit Guarantee Corporation of India (DCGCI)," informs a depositor, I. Vijay Kumar, who invested Rs.1 lakh. Ramini Vidyasagar, of Dilsukhnagar deposited Rs. 4 lakhs. "I deposited the money only for a month with a view to purchasing land. But the bank downed shutters," he said. Ditto is the case with 70-year-old D.C.R Das, who retired from BHEL, Bhopal. "I invested Rs. 1 lakh. I hope to get back my hard earned money some day," he said.
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