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'Bail out Amanath bank'

Bangalore, July 21, 2013, DHNS 2:46 IST
Jaffer Sharief. File Photo
A delegation of Congress leaders led by former union minister C K Jaffar Sharief on Sunday urged Chief Minister Siddaramaiah to order a CBI probe into the alleged irregularities in Amanath Cooperative Bank.

Speaking to reporters after the meeting, Sharief said: “Amanath Cooperative Bank and Al-Ameen Medical College, Bijapur, are in crisis. The government should intervene and revive them. We have also asked the chief minister to order a CBI inquiry into the alleged irregularities in the bank.”

Amanth Cooperative Bank has been in controversy following allegations of irregularities. It is alleged that crores of rupees of the depositors have been misused by some members of the board of directors.

Among those facing allegations include Union minister Rahman Khan. Sharief further said Siddaramaiah has, in his recently-presented State budget, allocated Rs 700 crore for the welfare and development of minorities in the State.

A request has been made to make use of this money to revive these institutions, he added.

Most of the depositors of the bank are the poor. They have not been able to draw their money following the Reserve Bank of India’s recent direction to freeze all the accounts.

The aggrieved depositors are staging protests. There are also allegations of misuse of properties belonging to the bank. All those involved in the irregularities should be punished. If necessary, the State government should appoint an administrator, the delegation is learnt to have told the chief minister.

Sharief upset

Upset with some leaders joining the delegation at the last minute, Jaffar Sharief had initially decided not to attend the meeting. He had even left Krishna, the chief minister's home office, as a mark of protest. But Congress MLC Nazeer Ahmed immediately pacified Sharief and brought him back.

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