After Punjab Co-operation Minister Sukhjinder Singh Randhawa issued strict instructions to the big-time loan defaulters of the state co-operative banks to deposit the amount, as much as Rs 5 crore has been deposited by such defaulters, including SAD’s senior leader Dyal Singh Kolianwali.
“After the initiation of the process against big-time defaulters of the co-operative banks, the defaulters have deposited till now Rs five crores,” said the spokesperson.
Not having deposited any installment during the past 10 years, the family of Kolianwali has deposited the cheques worth Rs 95.70 lakh.
Spokesperson said that the big defaulter of the Punjab Agricultural Development Bank, Malout, Dyal Singh Kolianwali's family has deposited three cheques worth Rs 95.70 lakh out of which the cheque worth Rs 30 lakh has been deposited dated May 14, 2018, whereas the other two are post dated cheques to be encashed at later dates.
Out of these, one cheque worth Rs 33 lakh would be payable at December 31, 2018, while the other one worth Rs 32.70 lakh would be payable at June 30, 2019, said the spokesperson.
Notably, the state Co-operation Minister had suspended the Manager of Malout Agricultural Development Bank 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 May 23 failing which the arrest warrants would have been issued. The family of Kolianwali had now deposited Rs 95.70 lakh.
Randhawa also said that commendation certificates would be given to the Deputy Registrars and the Assistant Registrars acting against the defaulters.
Spokesperson said that before this, the family of BJP’s former MlA Jagdish Raj Sahni had deposited Rs 20.90 lakhs.
Earlier, 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 crores to those willful defaulters who have the ability to repay the loan but aren't doing so willfully. The Minister had instructed all the borrowers to repay loans, and as part of the first phase, directed the issuance of notices to the 20 big defaulters after which the notices were issued.