PANJIM/MARGAO: Former Goa Civil Service senior scale officer S V Naik is likely to be appointed liquidator for the Madgaum Urban Co-operative Bank Limited, whose licence was cancelled by the Reserve Bank of India (RBI) a few days ago.
Naik, once appointed as the liquidator will oversee the process of paying money of the depositors and liquidation of bank’s assets and also recovery of all outstanding dues.
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Earlier on Tuesday, Madgaum Urban Co-operative Bank Officers’ Association (MUCBOA) and the Madgaum Urban Co-operative Employees Union had protested over the government delay in appointing a liquidator.
“We want the Government of Goa to be sensitive to the people’s problems and their needs. We urge the Chief Minister to look into the matter and expedite the appointment of a liquidator for the MUCB, without any further delay,” urged Prasanna Utagi, MUCBOA president.
He said the Reserve Bank of India (RBI) cancelled the banking licence of the MUCB and directed the office of Registrar of Co-operative Societies to appoint a liquidator to carry out the due process of law for winding up the bank operations and settle the claims of all the stakeholders.
“Over 10 days have elapsed with no sign to appoint a liquidator from the concerned government authorities. It has caused a lot of resentment among the depositors, shareholders, and the staff,” he said.
Utagi has written to the Registrar of Co-operative Societies, Chief Minister and Co-operation Minister requesting them to expedite the appointment of the liquidator.
He said the bank staffers have not been paid their July salary.
“How are they expected provide service without wages? The staffers and their families are already under great stress for several reasons including the prospect of being thrown into the morass of an unemployed lot,” he said.
Utagi said many depositors are desperately waiting to get back their hard-earned money to meet their serious requirement of medical treatment, etc.
“What happens to the assurances given by the Union Finance Minister, if such delay takes place even just for the appointment of a liquidator by the State government,” he asked.
