Cooperative society booked for cheating

The complainant had deposited ₹10.2 lakh in the bank.   | Photo Credit: Getty Images

The Rajajinagar police have registered a case against Sri Varidhi Souharda Credit Cooperative Society Pvt. Ltd. for cheating.

One of the depositors, Shivalingaiah L., in his complaint, said he had deposited his retirement benefits anticipating a good sum of monthly interest. But two months after receiving the deposits, the director shut down the cooperative bank and fled.

Mr. Shivalingaiah, 63, said he had paid ₹10.2 lakh towards fixed deposits at the bank in November 2019. However, two months later, the bank shut down and the director of the bank, identified as Vani, is missing. Mr. Shivalingaiah got back neither the interest nor the principal amount.

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Printable version | Oct 24, 2021 3:43:26 AM |

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