MARGAO: The Madgaum Urban Bank has finally relented and has deposited the settlement money of nine of its employees after a prolonged court battle.
The employees sued the bank for recovering wages which they won and the High Court had ordered the bank to deposit the settlement amount in the court within four weeks of passing the judgement. The bank initially failed to do so, but has finally deposited Rs 40,31,071.
However, the bank has filed review application before the High Court, which will be heard for admission on August 21.
