'Adarsh' depositors demand Justice, 2 years after scam

Lokmat News Network

Chhatrapati Sambhajinagar

Frustration boiled over on Friday as depositors of the Adarsh Cooperative Bank, victims of a Rs 347 crore scam, gathered outside the District Collector's office. Two years after many depositors including elderly individuals as old as 90, expressed their anger at the ongoing delay in receiving their funds.

The protest, led by former MP Imtiaz Jaleel, saw depositors demanding answers from District Collector Dilip Swami about when they would get their money back. The administration promised that the auction of Adarsh's properties would be resolved within a month. However, the depositors, whose patience had worn thin, raised their voices and created a ruckus in the area.

The process of property auctions, loan recovery, and asset seizures has been painfully slow. Despite two years of waiting, no significant progress has been made, prompting the depositors to resort to protest. Tragically, 48 depositors have lost their lives during this period, including a six-year-old child. To honour these victims, hoardings were displayed at the protest site.

-------------------------(BOX)-----------------------------

Sudden protest by women

After meeting with the District Collector, five female depositors entered the Collector's office at 6 pm, staging a sit-in outside and chanting slogans. They demanded a written assurance that their money would be returned within a month. During the protest, one woman fainted and began having difficulty breathing. The police had to intervene and disperse the crowd.

-------------------------(QUOTE)-----------------------------

"In August 2024, despite an official notification, the Khandala SDM failed to act on selling Adarsh's properties. A close associate of a prominent politician purchased a restricted property, which should not have been allowed. The District Collector’s response was vague, promising that the matter would be resolved in a month," said Imtiaz Jaleel.

-------------------------(BOX)-----------------------------

Silence from the ruling party

OBC Welfare Minister Atul Sawant and MP Dr Bhagwat Karad have kept silent on the protest. Sawant held a discussion with the District Collector, but the protestors’ concerns were met with indifference. This silence fueled further anger, with protestors expressing their discontent through chants.

-------------------------(BOX)-----------------------------

Current Status of the Case

33,065 depositors are owed Rs 347.72 crore.

Rs 2.87 crore has been paid to 2,881 depositors.

Auction of 15 properties worth Rs 18.50 crore is underway.

Loans of Rs 320 crore are owed to 1,541 individuals.

-------------------------(BOX)-----------------------------

The authorities are attempting to recover the funds through loan recoveries and the sale of assets, but depositors are still waiting for the resolution of their claims.