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Andhra Pradesh
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Hyderabad
Prudential depositors' plea
Staff Reporter
HYDERABAD:
Members of the Prudential CoOperative Bank Shareholders and Depositors Welfare Association on Sunday called upon Chief Minister Y.S. Rajasekhara Reddy to remove Liquidator Amarender Rao and Officer on Special Duty Satyanarayana Reddy for slow progress of the liquidation process.
General secretary P. Suryaprakash Rao said the liquidation process and recovery of bad debts from borrowers by liquidators were going on at a snail's pace, according to a press release.
The members wanted the Chief Minister to appoint an IAS officer in place of the Liquidator so that there could be faster recovery benefiting 1.5 lakh depositors.
He alleged that the liquidator Mr. Rao and OSD Mr. Reddy have not taken stringent action against the borrowers due to which the recovery of borrowed loans has come to a standstill.
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