Mapusa: The Mapusa Urban Co-operative Bank of Goa, which is under liquidation since April 2020, has settled the claims of 33,046 depositors, out of 33,570 who had submitted claims up to now, accounting for 99 per cent settlement of claims up to Rs 5 lakh, which is the guaranteed amount. The liquidator has disbursed almost Rs 250 crore in this regard.

Liquidator of the Mapusa Urban Bank, Anthony de Sa in a press release stated that of those who have not submitted claims, in spite of several notices and reminders, 94 per cent have deposits of less than Rs 1,000, and perhaps that is the reason that they are not submitting the claims. However, among these, there are 4,738 persons (with average deposit of Rs 48,000).

The Liquidator has urged them to make their claims at the earliest, so that they too can avail of the benefit.

There are 1,469 persons who have deposits of more than Rs 5 lakh. The balance amount of these claims can only be settled at the end of the liquidation process, as per law.

The Bank has made considerable progress in recovering outstanding loans. Out of 2,464 loan cases outstanding at the time of revocation of licence, the Bank has succeeded in recovering more than Rs 30 crore, and closing 1,629 cases. Thus, full recovery has been achieved in two-thirds of the cases. Now only 835 cases remain to be recovered. These are all pending in some court or the other and are being vigorously pursued through all available legal means.

During the past one year, the Liquidator has sold 113 properties through public auction for almost Rs 20 crore. These properties include the bank branches at Sanquelim, Vasco, Calangute, Reis Magos and Ponda, as well as a house in Porvorim and over a hundred shops in Mapusa and St Inez.

In a recent review of the liquidation process, the DICGC of the Reserve Bank of India and the Central Registrar of the Government of India, have both appreciated the work done.