God also got stuck in legal tangle, Rs 26.86 crore got stuck, bank also raised its hand


Devotees have offered Rs 11.50 crore in the form of US dollars.
4.06 crore is deposited in the form of Singapore Dollar.
Offerings of Australian and Canadian dollars also came.

New Delhi. Due to legal complications, many times the money of common man gets stuck, but now even God’s work related to money is stuck. In fact, the money offered by the devotees of Venkateswara Swamy is also hanging in the balance due to law and order. This money is not being deposited in the bank. The amount is also not small, but the whole is Rs 26.86 crore. This money was offered by the devotees in the hundis of the temple in the form of foreign currency. The Tirumala Tirupati Devasthanam (TTD), the trust that manages the temple, has had its registration under the Foreign Contribution Regulation Act (FCRA) suspended for three years. Because of this, the trust is not able to deposit the foreign currency offered in the bank.

According to a report in Indian Express, the trust has also sought help from the government in this regard, but the matter backfired. The government did not help, instead handed over the notice to pay the penalty. The trust deposits the money received in the form of offerings in the temple in the State Bank of India. But, SBI has refused to deposit foreign currency in its treasury due to suspension of FCRA registration of the trust.

read this also- Business idea: This tree is not of flowers but of money, plant once, earn for decades, gives return on investment very soon

Dollar, dirham, pound and euro offer
The Trust had recently sent the complete details of the foreign currency received as an offering to the Ministry of Home Affairs. The trust has deposits of Rs 11.50 crore in US dollar, Rs 5.93 crore in Malaysian ringgit and Rs 4.06 crore in Singapore dollar. Apart from this, devotees have also offered Dirham, Pound, Euro, Australian Dollar and Canadian Dollar in hundis.

Registration is suspended since 2019
The registration under the Foreign Contribution Regulation Act (FCRA) has been suspended for three years. Due to technical glitch, the registration of the trust has been suspended. On March 5, the FCRA division of the Ministry of Home Affairs wrote a letter to TTD stating that its annual return was in the wrong format. A penalty of Rs 3.19 crore has been imposed on the trust for this mistake. Earlier in 2019, a penalty of Rs 1.14 crore was imposed on the trust for not renewing the FCR registration. The trust had paid it.

SBI refused to deposit money
According to the changes made in the FCRA Act in 2020, any NGO has to open an account with SBI. SBI is not ready to deposit the foreign money offered as the identity of the offerers is not known. At the same time, the trust has also knocked on the door of the government to solve this issue. The trust had argued in notes sent to the government last year that there was a difference between the Andhra Pradesh rules and the FCRA rules. TTD said that it was late in filing the accounts due to the pandemic.

TTD has said that the FCRA Act does not mention the process regarding the amount received in Hundi from an unknown person. The trust says that it had submitted the revised statements at the behest of the government. But telling them also wrong, a penalty of Rs 3.19 crore was imposed on the trust.

Tags: business news in hindi, Currencies, donation, Tirupati

Related Articles

Back to top button