Depositors seek withdrawals & clarity a day after action
Some of the investors outside the Canacona branch of the Tirumalla Tirupati Multi-State Co-op Credit Society Ltd.
CANACONA
Several investors rushed to the Canacona branch of Tirumalla Tirupati Multi-State Co-op Credit Society Ltd on Wednesday to submit withdrawal claim forms for their deposits. This came a day after the government cancelled the society’s permission and No Objection Certificate (NOC) to operate in Goa with immediate effect.
Since morning, investors were seen visiting the branch at Chaudi to seek clarity about their deposits.
The branch manager and staff attended to their queries and assured them that their money was safe.
Investors who wished to withdraw their deposits were given prescribed forms and asked to provide account details along with their deposit receipts. The branch accepted several withdrawal requests and the branch manager reportedly assured that the withdrawn amounts would be transferred directly to investors’ bank accounts within two working days.
The branch manager also assured customers that no penalty would be deducted and that the full deposit amount would be refunded.
Rejecting claims that audited accounts had not been filed since the society began operations in Goa nearly a decade ago, the branch manager said audits were conducted regularly. He added that only the latest audit report was delayed by about ten days.
Investors were also informed that the head of the society is expected to arrive in Goa on Thursday to address issues related to non-compliance with statutory norms.
