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Friday, March 29 2024
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Mangaluru

Cops seal office of Entrepreneurs Co-op Society for cheating depositors

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Mangalore :  There was a clamour  at the office of the Entrepreneurs Multi-Purpose Co-operative Society Ltd at State  Bank here on May 16, Thursday, when several depositors gathered outside the Society office and demanded their deposits back. Their complaint  was that the Society authorities were refusing to refund their deposits citing shortage of fund.

It is learnt, as many as 140  depositors mostly labourers and fish vendors in State Bank and Bunder area had deposited nearly Rs  9.5 lakhs in the society through the pigmy collected Bhavani. Sources said they had demanded their  deposits back a couple of months ago, when the Society said it would return the same by   April 15. However when there was no sight of the Society keeping up its promise, the depositors arrived at the office on May 16, Thursday and demanded that their deposits be given back.

Even the CPI(M) and DYFI leaders joined the stir. The Pandeshwar police who arrived at the spot, sealed the office of the society and took the Bank President Padmanabha Rai to custody for questioning.

Investigations are underway.

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