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Report No. 143

1.5. Nearly 10,000 depositor's helped in recovering rupees 3.50 crores.-

It is a matter of satisfaction for the Commission that as a result of this exercise the grievances of as many as 9776 small depositors out of 43285 were redressed and an aggregate sum of Rs. 3 crores 47 lakhs was refunded.

1.6. Magnitude.-

The number of depositors who were subjected to suffering was a staggering 42419. And the amount involved in that connection was about rupees 17.50 crores. These figures evidence the magnitude of the problem and underline the need for urgent legislative measures designed to resolve this issue.

1.7. The report.-

Appropriate deductions have been made in the light of the analysis of the data gathered in the course of the said exercise. And the present Report embodying recommendations flowing from the deductions so made is the outcome of the said exercise.

Legislative Safeguards for protecting the Small Depositors from Exploitation Back

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