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Notice makes SAD leader deposit Rs 95 lakh

Statesman News Service | Chandigarh |

Within a week after the Punjab co-operation department issued notice to Shiromani Akali Dal (SAD) leader Dyal Singh Kolianwali and his family members to deposit loan amounts, a sum of Rs 95.70 Lakh was deposited by Kolianwali’s family on Monday.

The department had issued notices to the big time defaulters which has resulted in such defaulters depositing Rs 5 Crore, said an official spokesperson.

It was added that Kolianwali’s family has deposited three cheques worth Rs 95.70 Lakh out of which the cheque worth Rs 30 Lakh has been deposited on Monday whereas the other two are post-dated cheques to be encashed at later dates.

“The family of Kolianwali had not deposited any installment due from them during the past 10 years”, said the spokesperson.

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 23 May failing which the arrest warrants would have been issued, added the spokesperson.

Co-operation minister Sukhjinder Singh Randhawa has said that commendation certificates would be given to the Deputy Registrars and the Assistant Registrars acting against the defaulters, said the spokesperson.

It was also added that the family of former legislator Jagdish Raj Sahni had also deposied Rs 20.90 Lakh.

“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 Crore to those willful defaulters who have the ability to repay the loan but aren’t doing so willfully”, added the spokesperson.