Tejasvi forced to leave event after scam victims confront him
Bangalore South MP and Bharatiya Janata Party leader Tejasvi Surya was forced to leave an election campaign event on Sunday. This came after investors who lost money in the multi-crore scam involving the Guru Raghavendra Sahakara Bank Niyamitha—a co-operative bank at Basavangudi in the city—sought answers from the parliamentarian and heckled him. The incident took place during a strategic discussion involving the Co-operative Bank Association and several politicians, including Surya and Basavangudi MLA Ravi Subramanian.
Investors confront politicians over delayed reimbursement
The event took a chaotic turn when investors affected by the alleged scam demanded explanations from the politicians about the delay in reimbursement for their losses. Video clips from the gathering show angry depositors vocally confronting Surya and blocking his exit. Accusations have also been made against Surya's supporters for allegedly harassing and physically confronting the investors during this event.
Karnataka Congress criticizes Surya's exit amidst confrontation
The Karnataka Congress posted a video of the chaotic scene on X (formerly Twitter), criticizing Surya's abrupt exit. The party stated, "BJP's Tejaswi Surya has once again escaped from the crowd through the 'Emergency Exit Door'. Arrogance of Tejaswi Surya, who attacks and abuses voters during elections, has crossed the limit. The time has come for voters to teach him a lesson."
Watch: The purported video of the incident
Details of the alleged scam involving SGRSBN
The scam reportedly involved misappropriation of around ₹2,500 crores by the bank's management. This was exposed in 2020 when the Reserve Bank of India (RBI) imposed withdrawal restrictions on the bank. Over 45,000 depositors had entrusted their money with this bank. Most received an insurance payout of ₹5 lakh from the Deposit Insurance and Credit Guarantee Corporation, but over 15,000 depositors with deposits exceeding ₹6 lakh are yet to receive full compensation.
ED's probe and seizure of bank properties
The Enforcement Directorate, which investigated the fraud, seized bank properties worth ₹159 crore. The bank's management, in collusion with others, is accused of diverting substantial funds. In December of the previous year, the Karnataka government commissioned a probe into the scam by the Central Bureau of Investigation (CBI).
