BHUBANESWAR: The Tirumala Tirupati Devasthanams (TTD), which manages the affairs of Tirumala Temple, had withdrawn about Rs 1,300 crore from its Yes Bank accounts late last year but the Sri Jagannath Temple Administration (SJTA) could not. Why? In fact, term deposits of TTD had matured in October last after which the authorities withdrew the money only to deposit it in nationalised banks. To the contrary, SJTA had actually decided to withdraw its deposits from the private bank but the Finance Sub Committee decided against it leaving `545 crore in a state of uncertainty.
Documents available with ‘The Express’ show that on January 13, Deputy Administrator (Finance) of SJTA wrote to Yes Bank, Puri to close the term deposits in six accounts. The letter was issued after an instruction from SJTA Chief Administrator Krishan Kumar. Basing on the Chief Administrator’s direction, the Deputy Administrator sent in a letter to Yes Bank where the term deposits to the tune of `592 crore was parked. Of it, Rs 545 crore was kept in fixed deposits while the rest was put in flexi accounts. In the letter, the Deputy Administrator had asked Yes Bank to credit the term deposits in SJTA’s UCO Bank account with the interests accrued.
The flexi account deposits amounting to `47 crore were withdrawn but the fixed deposits remained stuck.
Going by the draft proceedings of the temple managing committee, the Finance Sub Committee took up for discussion Chief Administrator’s order to withdraw the deposits in its January 16 meeting where it was decided that `389 crore and `156 crore should not be withdrawn before their maturity dates on March 19 and 30 respectively.
SJTA said withdraw, fin panel spiked it
Why the finance sub panel was adamant against pre-mature withdrawal and decided to over-ride the Chief Administrator’s order remains unknown. So is the role of firms that advise on financial matters. With such huge funds of the shrine locked up in the cash-strapped bank accounts, the Opposition political parties have sought an answer from the Government on the matter.