PANJIM: Investors of Mapusa Urban Cooperative Bank (MUCB) on Saturday mentioned approximately 7,000 claims submitted by the MUCB to Bank of Baroda, Mapusa are returned due to various discrepancies overlooked by the MUCB and are being re-examined again.
The frequent deliberate extensions of one time settlement (OTS) to defaulters/willful defaulters by MUCB liquidators has become a regular feature and well-rehearsed premeditated exercise apparently solely to protect defaulters allegedly suspected to be close associates of the MUCB management accused by Reserve Bank of India of gross irregularities that led to the order cancelling its banking licence.
At the last hearing before the Goa Human Rights Commission (GHRC) on June 15, the advocate for the liquidator orally submitted that disbursements of all the depositors in the Rs 5 lakh and below category were already settled and completed. The complainants present at the court objected and denied this claim as false, incorrect and misleading as some of them had not received any amount at all till date, says a press release issued by the investors.
The principal judge reprimanded the said advocate for such frivolous submissions and directed him to submit the list of depositors claim settled at the next hearing. The fact of the matter is that till date many depositors in the Rs 10,000 and below and Rs 5 lakh are still awaiting settlement from the funds provided for by the DICGC-RBI. This was claimed in a press statement jointly signed and released by the investors in Mapusa Urban Cooperative Bank (MUCB) Joseph Carneiro, Prabhakar Salgaonkar, Arun Khaunte and Dr Kunda Quenim.
The ex-liquidator D Hawaldar’s press release last year granting 402 day extension until May 31, 2021and now further additional 90 days extension to defaulters by present liquidator Anthony D’Sa, after filing applications from July under a newly invented OTS scheme (total exceeding 520 days from date of appointment of ex liquidator) is contrary to and in violation of SARFESAI Act and the Circular dated November 2020 from the Finance Ministry, New Delhi ,to all financial institutions through Chief Secretary of Goa that grants max 60 days for recovery, said the press release.
“It is disappointing that the present liquidator has also resorted to this tactic. For the sake of record the new liquidator Anthony D’Sa who was appointed in April for providing relief to the aggrieved depositors is yet to meet the delegation of depositors despite written requests for the same and replies from DICGC Mumbai to depositors to meet liquidator for any clarifications,” lamented the investors in a press statement.
