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.
The depositors since the past week were seeing going to the house of the president Anand Appugol and also follow up with the bank, but the bank was unable to repay the deposits.
Today president Anand Appugol of Shri Krantiveer Sangolli Rayanna Co-Operative Credit Society broke down during the press conference.
Anand Appugol had produced the Mega Kannada film Sangolli Rayanna.
At the press conference the broken down Anand Appugol said
The Society had suffered losses due to demonetisation. At the same time denied wrong use of the depositors money or any irregularities and vowed to return money, with interest.
Later he asked a time of three months within which time frame he has promised to return the money to the depositors.
On the question as to how he hopes to raise the 300 odd crores he said he has prime property in city and other cities which he would sell and arrange the funds for repayment.