The Bombay high court has asked the city police to investigate the Veerashaiva Cooperative bank fraud using the services of a chartered accountancy firm without any further procrastination.
The Court order was passed during hearing of a petition filed by the cooperative workers organisation asking for return of money and an immediate action against the people involved in the bank fraud,
The court had earlier expressed its displeasure at the delayed police action in the matter.
It is noteworthy that the bank’s directors and some borrowers had allegedly conspired to loot the bank and the fraud involves an amount exceeding 50 core.
More than 15 thousand investors stand affected by it. The bank workers’ organisation has petitioned the court to order arrest and attachment of the properties of the fraudsters.