News Flash
30 September
Reported: Vishal Mayur
Protest Staged in Freedom Park Demands Implementation of BUDS Act 2019
Bengaluru: Thugi Pidit Jamakarta Pariwar (TPJP) claimed that the implementation of the Banning of Unregulated Deposit Scheme Act 2019 for victims defrauded by investing in various financial institutions across the state should occur soon. Although the central government has nominally implemented it, it has not been put into practice. In response, a protest was staged on Monday at Freedom Park.
According to TPJP, although the BUDS Act was introduced in 2019, it has not been effectively enforced. While Speaking with News Flash, TPJP President Savitha M, Said “PACL, Saiprasada, Samridhad Jeevan, Garima, Hindusthan, Agrigold, and other investment companies have already closed down in India. Since 2014, customers who invested around 8.2 thousand core money from all over Karnataka have not received any returns since 2014. Around 200 to 250 such investment companies have shut down in our state, and the government has not taken any action. We are fighting across the country, state, and district. According to the BUDS Act 2019, the government should return the money to the customers. We are staging a satyagraha in front of the district collector's office across the state starting September 1.”
Savitha also stated that the organization is staging satyagrahas across the state, starting on September 1, in front of district collector's offices. Their demand is for the government to ensure that the depositors' money is returned as per the provisions of the BUDS Act 2019.
The protestors, many of whom are financially affected depositors, will also be submitting letters to authorities through the Fraud Affected Jakarta Parivar organization.