BENGALURU: Hanumanthnagar police on Monday issued notice to the director and board members of Sri Vasista Credit Souharda Sahakari Limited over an alleged case of cheating, and asked them to submit required documents within three days. So far, four investors have approached the police to file cases, a senior officer said.
Speaking to TNIE, an investigation officer said that a police team went to the bank and issued the notice, which was received by Chairman Venakata Narayana KN and Director Krishna Prasad. They have been asked to submit relevant documents within three days, while they were also booked under the charges of cheating, forgery, misappropriation and criminal breach of trust.
Based on a complaint by Arun BN, a resident of Bannerghatta, an FIR was registered two days ago. Arun alleged that he had made a fixed deposit of Rs 99 lakh on behalf of his father, Nagaraj BT (78). The bank was providing interest till November 2020, but it stopped abruptly. Subsequently, it also stopped withdrawal of deposits.
When repeatedly contacted, the bank cited the pandemic and asked Arun to wait a few months. But later, when he resumed contacting the bank, there was no response till June 2021. It is then that Arun decided to approach police. On learning about Arun's complaint, a few other investors approached the jurisdictional DCP on Monday about the interest being stopped and not being allowed to withdraw the deposits.
Police have sought details of the investments, and also plan to question those involved in a possible misappropriation, the officer said, adding that some investors are scared to come forward to lodge complaints fearing losing their money.