Loan recovery notice issued to Akali leader Kolianwali

The Punjab cooperative department today issued notice to Akali leader Dyal Singh Kolianwali and his family for the recovery of outstanding loan amount of about Rs 79 lakh borrowed from cooperative agricultural development banks.

As part of the follow up to the Cooperation Minister Sukhjinder Singh Randhawa's orders, the assistant registrar of the Cooperative Societies Malout issued a notice to Kolianwali for depositing the total amount of Rs 39,00,678 including principal amount and interest.

"A notice has been issued to the big time defaulter Dyal Singh Kolianwali and his family to deposit the loan amount," an official spokesman said here.

Similarly, notices have also been issued to his wife Amarjit Kaur and son Parminder Singh instructing them to deposit Rs 35,57,021 and Rs 4,62,717, respectively (including principal amount and interest).

They all have been asked to deposit the amount till May 23 failing which their arrest warrants would be issued.

The spokesperson further said that Kolianwali and his family refused to receive the notice, following which it was pasted at the gate of their house.

With that, the spokesperson also informed about the the family of ex-MLA Jagdish Raj Sahni depositing Rs 20,90,800, which he claimed was 25 per cent of the loan amount.

Randhawa last week had said his department would act against big farmers who defaulted in repayment of loans taken from cooperative banks.

Big farmers have an outstanding loan amount of Rs 276 crore.