Punjab

INSTRUCTIONS OF CO-OPERATION MINISTER START BEARING FRUIT: FAMILY OF DYAL SINGH KOLIANWALI DEPOSIT RS. 95.70 LAKH

May 14, 2018 06:23 PM

• DEFAULTERS OF CO-OPERATIVE & AGRICULTURAL DEVELOPMENT BANKS DEPOSIT RS. 5 CRORE

Chandigarh (Face2News)

The strict instructions given by the Co-operation Minister, Punjab, S. Sukhjinder Singh Randhawa with regard to the big time defaulters of the co-operative banks have start bearing the fruit. After the instructions of the minister the department issued notices to the big time defaulters which has resulted in such defaulters depositing Rs. 5 crore. Out of these, the family of Dyal Singh Kolianwali has deposited the cheques worth Rs. 95.70 lakh.

Disclosing this here today, an official spokesman said that after the initiation of the process against big time defaulters of the co-operative banks, the defaulters have deposited till now Rs. 5 crores. The spokesman further added that the big defaulter of the Punjab Agricultural Development Bank, Malout Dyal Singh Kolianwali's family has deposited 3 cheques worth Rs. 95,70,000 out of which the cheque worth Rs. 30 lakh has been deposited in today's date where as the other 2 are post dated cheques to be encashed at later dates. Out of these, one cheque worth Rs. 33 lakh would be payable at 31st December, 2018 while the other one worth Rs. 32,70,000 would be payable at 30th June, 2019.

The family of kolianwali had not deposited any installment due from them during the past 10 years. The Co-operation Minister had suspended the Manager of the Agricultural Development Bank, Malout for not issuing the notice to kolianwali and had instructed the Assistant Registrar of Malout to send the notice. In the notice sent to the family of kolianwali, the loan amount was ordered to be deposited by 23rd May failing which the arrest warrants would have been issued. The family of kolianwali had now deposited 3 cheques totaling Rs. 95.70 lakh which would result in the whole amount being recovered.

The Co-operation Minister also said that commendation certificates would be given to the Deputy Registrars and the Assistant Registrars acting against the defaulters. The spokesman further said that before this, the family of Ex-MLA Jagdish Raj Sahni had deposied Rs. 20.90. The Co-operation Minister had given instructions for commencing proceedings against the big time defaulters during a high level meeting. The bank owes Rs. 276 crores to those willful defaulters who have the ability to repay the loan but aren't doing so willfully. The Co-operation minister had instructed all the borrowers to repay the loans and as part of the 1st phase directed the issuance of notices to the 20 big defaulters after which the notices were issued.

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