MARGAO: Dionisio Sardinha, the petitioner in the Madgaum Urban Cooperative Bank case has alleged that the Managing Director of the bank has become a puppet of the Board of Directors as he has been denied of providing the list of defaulters of the bank. He informed that the account holders of St. Andre Branch and Comunidade of Curtorim are going to file an intervention in the case filed by Dionisio Sardinha.
Dionisio had written a letter to the bank and also demanded at the shareholder’s meeting to provide the list of defaulters of the bank. He has filed a petition against the bank and the directives of RBI for the release of the deposits of people.
“In the letter, they speak about RBI stopping the release which is totally false, actually Chairman told to the shareholders that the RBI is not allowing them to pay as the restriction laid down as per sec 35 (A), further MD said that we have 125 crores liquid cash, in court, they have given Affidavit saying we can clear 49 thousand customers having a number of Rs below 20000/-, what about others?” asked Dionisio.
“The MD is acting as a puppet of the Board of Directors,” he adds.
