MARGAO: After releasing the deposits of nearly 10,000 depositors, now The Madgaum Urban Co-operative Bank (MUCB) has begun the process of selling out its bank premises situated at Panjim, Margao and Benaulim.
Kishore S Amonkar, Managing Director of MUCB has recently issued a notice in this regard calling the attention of the interested individuals, firms, companies and institutions inviting to participate in the bids in purchasing the properties.
It is pertinent to note that the MUCB had closed all the nine branches located in the State with effect from April 1. And at the same time, the services of all 58 staff were also terminated. The branches shut down include Margao, Sanguem, Old Market (Margao), Curtorim, Benaulim, Panjim, St Andre (Goa Velha), Aquem Alto (Margao) and Ponda.
The banking licence of the Madgaum Urban Co-Operative Bank Ltd was cancelled vide Reserve Bank of India (RBI) order dated July 27, 2021. Consequently, upon request from the RBI, the Registrar of Co-Operative Societies, the Government of Goa has appointed S V Naik as the liquidator for the bank for commencement of winding up the business of the bank.
The bank premises consist of seven shops, forming a single unit on the first floor in a multi-storied commercial building complex, Navelkar Trade Centre, near Azad Maidan, Panjim, besides at Margao, premises located on the ground floor of building B commercial building complex named Reliance Plaza, near Lohia Maidan are listed in the properties, inviting bids to purchase them.
MUCB has also invited bids to purchase the bank premises at Benaulim, along the main road opposite Saint Andrew Church. The last day to participate in the bids is August 8, as informed in the notice.
It may be recalled that in the month of February-March, the bank had issued a notice to 250-odd locker holders to surrender the lockers and take custody of their valuables.