Nationalist Congress Party (NCP) today expelled former chairman of
Nagpur District Co-operative Bank (NDCB) Sunil Kedar, who has been
arrested in connection with the multi-crore government securities
scam, and categorically stated that the party was not averse to a CBI
probe in the matter, if needed.

Addressing a press conference, party spokesman Vasant Chavan made it
clear that NCP will not interfere with the investigations and not
hesitate in taking action against any of the party office bearers and
heads of co-operative banks involved in the irregularities.

''No matter how powerful or resourceful the party officebearer or
leader involved in the scam may be, stern action will be taken. No
one will be spared,'' he pointed out. Party president Sharad Pawar
has instructed party leaders in charge of other co-operative banks in
the state to take advance precautions in the functioning of their
respective banks and appropriate action if any irregularities were
found, Mr Chavan informed.

The co-operative sector in Maharashtra was the most well-established
network in the country and had shaped the rural economy of the state,
Mr Chavan said adding, ''we do not want the sector to be shamed due
to few people.''

''In the NCP, there are several prominent personalities who have
worked tirelessly to make the co-operative sector what it is today,''
he said. Mr Chavan did not agree that the scam will tarnish the image
of the NCP as most of its leaders are involved in the co-operative
sector. He urged the government to take all steps possible to ensure
that the small investors' interests are not harmed. ''The district co-
operative banks in the rural areas are the lifeline of poor farmers
and their welfare should be topmost in the mind of the government,''
he added.

The NCP has also criticised the beating up of journalists by Kedar's
supporters in Nagpur yesterday while the latter was being produced in
the court. Mr Chavan said that the deputy chief minister Chhagan
Bhujbal has already ordered an inquiry into the matter. The guilty
should be booked under the law and action taken against the police
for being silent spectators, Mr Chavan felt.

By: A Chalomumbai Correspondent
May 9,2002