Mounesh Vishwakarma
Daijiworld Media Network - Bantwal
Bantwal, Jan 9: Suresh Kulal, president of Bantwal Samaja Seva Cooperative Society, has accused an individual of making false claims and defaming the bank with the intention of influencing the upcoming election for the administration and damaging the bank's reputation.
Speaking at a press conference today at the bank’s office, Kulal alleged that the person had gathered fabricated documents to falsely accuse the bank of causing financial loss and defaming its administration ahead of the election scheduled for February 9. He also mentioned that a complaint had been filed with the CEN Police Station based on these false accusations. However, a preliminary inquiry by the High Court found the complaint legally invalid and issued a stay order.
The Cooperative Society, which provides various loan facilities to its members, also offers financial support for small industries, self-employment, and business ventures. Additionally, the society provides gold loans as part of its services to members.
One such case involved a customer from the Padil Branch, Abubakar Siddiq from Ishwara Mangala in Puttur taluk. He had pledged gold jewellery and obtained loans amounting to Rs 2.11 crore across 19 accounts. According to the bank's rules, gold loans are considered quick loans, and they are issued based on an appraisal by an authorised appraiser. These procedures are followed in accordance with the bank's guidelines.
When Abubakar Siddiq did not respond to the notices, the pledged gold was sold as per the bank's rules, and the loan became due. The gold was auctioned by the appraiser, Vivek Acharya. Upon investigation, the authorities concluded that no fraud had occurred, and the complaint was dismissed. However, there were concerns about the sanctioning of loans exceeding the limit and other procedural lapses, which led to the suspension of the branch manager.
Kulal clarified that despite finding lapses, the bank has taken necessary measures to ensure no customers are harmed. He accused the complainant of personal animosity and of making false allegations to harm the bank’s reputation and interfere with the upcoming elections.
The society, which was founded under the leadership of freedom fighter Dr. Ammeembala Balappa and cooperative veteran HooVayya Moolya, started with 131 members and a capital of Rs 22,620. Today, the society operates 16 branches across Dakshina Kannada and Udupi districts. It has seen significant growth, achieving a turnover of ?982.54 crore and a profit of ?5.71 crore this year. A 17% dividend has been announced for its members.
The press conference was attended by vice-president Padmanabha V, directors Arun Kumar, Jayanti, Ramesh Kulal, and Janardhan Bondal.