Angry investors who had put their money in the Shree Veermadi Bhadra Saakh cooperative bank in Badnawar in Dhar district of Madhya Pradesh gheraoed the manager of the cooperative union for several hours.
Earlier the cooperative bank had refused to either return their money or give them loans, reports Free Press Journal.
The investors also complained that they were not given receipts for their deposited money.
However, the manager of the cooperative society has rejected these allegations as rumors saying being defaulters they would neither be entitled to loans nor memberships.
The society has 11 directors and all are ladies. The working places of the society are said to be in Badnawar, Dhar and Sardarpur Tehsils.