Depositors in Co-operative Society Fraud Case Directed to Submit Documents for Refunds

The competent authority under the Karnataka Protection of Interest of Depositors (KPID) Act has issued a notice requiring depositors affected by the alleged fraud at the Krantiveera Sangolli Rayanna Urban Co-operative Society to submit specific documentation to process refund claims. This directive follows a High Court of Karnataka order from November 2025. The society, promoted by film producer Anand Appugol, is accused of financial irregularities involving approximately ₹300 crore owed to depositors. Affected individuals must personally submit ten types of documents, including bank statements from 2012 to March 2018, identity proofs like Aadhaar and PAN cards, investment agreements, passbook copies, and income tax returns. Additional documents such as legal heir certificates are required for deceased depositors. Submissions must be made to the Additional Regional Commissioner’s office in Bengaluru. This administrative step aims to verify claims and facilitate the restitution of funds to those duped by the cooperative society's alleged mismanagement and fraudulent activities.