Temple money belongs to deity, cannot be used to save cooperative banks: SC
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New Delhi (PTI): The Supreme Court on Friday said that money belonging to a temple deity cannot be used to prop up financially distressed cooperative banks.
The sharp observations were made by a bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi while hearing appeals filed by a few cooperative banks challenging a direction of the Kerala High Court asking them to return the deposits to the Thirunelly Temple Devaswom.
"You want to use the temple money to save the bank? What is wrong with directing that the temple money, instead of being in a cooperative bank which is breathing with great difficulty, should go to a healthy nationalised bank which can give maximum interest," the CJI asked.
Temple money belongs to the deity and hence, the money has to be "saved, protected and utilised only for the interests of the temple" and it cannot become a source of income or survival for a cooperative bank, the CJI said.
The pleas against the high court order were filed by Mananthawady Co-operative Urban Society Ltd and Thirunelly Service Cooperative Bank Ltd.
The high court had directed five cooperative banks to close the Devaswom's fixed deposits and refund the entire amount within two months, following repeated refusals by the banks to release the matured deposits.
The bench was unconvinced with the submissions of the banks that the abrupt direction of the high court was causing difficulties.
The bench said the banks should establish credibility among the people.
"If you are unable to attract the customers and deposits, that is your problem," it said.
The top court refused to entertain the pleas.
It, however, permitted the banks to approach the high court for extension of time to comply with the impugned order.
The case arose from a plea filed by the Thirunelly Devaswom after several cooperative banks refused to repay the temple's fixed deposits despite repeated requests.
The high court had directed Thirunelly Service Cooperative Bank Ltd, Susheela Gopalan Smaraka Vanitha Cooperative Society Ltd, Mananthawady Cooperative Rural Society Ltd, Mananthawady Co-operative Urban Society Ltd, and Wayanad Temple Employees Cooperative Society Ltd to return the funds within two months.
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Karnataka: 2 arrested for duping Belagavi businessman of over Rs 15 crore in ‘digital arrest’ scam
Belagavi (PTI): Two people were arrested in connection with a 'digital arrest' scam in which an 81-year-old businessman allegedly lost over Rs 15 crore after fraudsters posing as CBI officials accused him of involvement in a financial crime, police said on Saturday.
The accused duo -- Venkatesh Sharath Naik and Degavat Sripada Naik -- both residents of Hyderabad, were apprehended during an operation conducted by the investigators recently, they said.
Their arrests followed a detailed investigation into the case registered on March 18 at the Belagavi City Cyber Crime police station.
According to the police, investigators traced 10 beneficiary accounts spread across Hyderabad, Delhi, Punjab, Haryana, Gujarat and West Bengal. A Rs 2 crore transfer to a Hyderabad account provided the breakthrough in the probe, following which on April 6, a Cyber Command Unit team raided locations in Hyderabad, leading to the arrest of the two individuals.
Investigators revealed that the duo had handed over their joint account details, internet banking credentials and cheque books to a handler who remains at large.
According to officials, the senior citizen received multiple calls, including video calls, for nearly six weeks.
The fraudsters claimed that the victim had received a Rs 5 lakh commission for laundering Rs 25 lakh and that complaints had been filed against him for illegal financial activities.
Threatening to arrest him in a money laundering case, they allegedly coerced the victim into sharing his account and financial details with them and transferring the money to a “safe or government account,” they added.
They assured him that the amount would be returned after the investigation. The victim grew suspicious when he received no response from the callers and found all mobile numbers untraceable, according to officials. He then complained to the police.
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