Mapusa Urban shareholders demand enquiry into OTS scheme

NT NETWORK

MAPUSA

The shareholders of the Mapusa Urban Cooperative Bank of Goa Ltd has submitted a memorandum to the Chief Minister and also to the Rajya Sabha MP Vinay Tendulkar demanding an enquiry into the implementation of the onetime settlement scheme which was given by the then board between 2005- 2015. The shareholders have claimed that a huge amount to the tune of Rs 67 crore has been sanctioned under the scheme.

The delegation representing shareholders comprising Rajsingh Rane, Kiran Shirodkar, Yashwant Gawandalkar and Sandesh Naik handed over the memorandum to the OSD to Chief Minister Manohar Parrikar. A copy was also handed over to Rajya Sabha MP Vinay Tendulkar.

The shareholders in their memorandum requested a proper enquiry into the implementation of the OTS scheme from the year 2005 to 2015.

It may be recalled that recently the bank had received a letter from the central registrar suggesting that the bank decide on the resignation letter of the board of directors. Accordingly a board of directors’ emergency meeting was held wherein the resignation of all directors was accepted and decided to hold an election to appoint a new panel. The board has approached RBI to seek permission for financial expenditure for holding the elections.

Raising apprehension over the election process by the current board, shareholders demanded that an administrator be appointed to look into the affairs of the bank as well as to conduct the election.

The shareholders in a letter stated, “Let there be free and fair elections and let all the shareholders get a chance to exercise their right to choose a new board. We feel that the present board has no moral right to take any decision related to the bank since they themselves have resigned. Let the new board take the decision for the bank after the elections. We will be writing to the general manager not to entertain any decision by the present caretaker
board”.