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Anand Appugol remanded to 4 days police custody

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love dale belagavi

After arresting the absconding Anand Appugol from Panvel near Mumbai, the special police team produced him in-front of the JMFC 3 court, where he was remanded to 4 days of police custody.

Anand Appugol the Chairman of Shri Krantiveer Sangolli Rayanna Co-Operative Credit Society who was missing since a fortnight and from the past several months the depositors of Shri Krantiveer Sangolli Rayanna Co-Operative Credit Society were not able to get back their deposits even after maturity and the amount is the tune to Rs.300 crores.

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Appugol had said that he was in a financial crisis and hence needs more time to repay, but he did not give any concrete plan.

Each day hundreds of depositors gather infront of the main office on Swami Vivekanand road but with no one to open the doors the 52 branches of the society have been closed now.

Will his arrest give some solace to the depositors only time will tell.

Trinity Belagavi
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3 COMMENTS

  1. Please do not invest all your funds in risky chit funds, coop, or other juicy places where interest is too good to be true. Crooks never loose money. Hard earned money is lost by common people.

  2. I whole heartedly Congratulate Mr Editor for your boldness in reporting the news about ANAND APPUGOL as many prominent Local News Dailies are refraining to report against him…

    We must understand that when media people who also run financial institutions, will they report about a fraudster from the same financial field?

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