Suryapur depositors yet to get their monies

The Rs 60-crore Suryapur Co-operative Bank scam has left thousands in the lurch. The bank had downed its shutters since September 2002, but no concrete steps have been taken to refund over 19,000 depositors.

The prime accused in the scam is the BJP leader and former Rajya Sabha member Kanaksinh Mangrola.

As per Reserve Bank of India (RBI) norms, once a bank is wound up or is liquidated, those with deposits of up to Rs one lakh can claim their money from Deposit & Credit Guarantee Corporation of India (DCGCI).

Though the bank remains closed for the last 18 months, no steps have been initiated to wind up the bank. This effectively has denied the small depositors' chance of claiming their money from DCGCI.

District Registrar (General) R R Vaghasia, who was appointed the bank's administrator said, "The state government and RBI have to take the decision regarding winding up. I have no role to play in this regard."

"As the bank's administrator, it is my primary duty to take care the interest of depositors and account holders. We are doing all we can, and let me assure you that, there will be no let-up as far as taking legal steps against the defaulters is concerned," Vaghasia clarified.

"After taking over as administrator, complaints against 59 major defaulters, including the prime accused Kanaksinh Mangrola and Mukesh Desai, have been lodged with the police. Procedure to lodge complaints against forty other defaulters, who owe the bank over Rs 10 lakh each, has also been initiated," he added.

RBI officials were not available for comments. However, the bank's recurring deposit agents, do not seem to have much faith in these assurances and have launched an agitation under the banner of 'Suryapur Bank Dainik Bachat Hitvardhak Samiti'.

Paresh Parekh, convenor of the samiti said, "There are thousands of depositors who have lost their life savings. More than an year and a half has passed by since the bank went out of business, but till date, no complaints have been lodged with the police against major defaulters."

"Depositors can expect to get their money once the bank is wound up. But the government is not ready to do so. We have waited for a long time, but now it is almost certain that the government will do nothing to solve our misery. That's why we launched the agitation. We will intensify the agitation in the coming days and will urge people to vote against the BJP," Parekh said.