PANJIM: The depositors of Mapusa Urban Cooperative Bank (MUCB) are unsatisfied by the way they are being treated by the liquidator of the bank Daulat Hawaldar.
In a press release issued by Joseph Carneiro, Prabhakar Salgaonkar and Arun Khaunte on behalf of all the depositors mentioned that the last meeting with the liquidator was held on November 24.
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“The depositors are disappointed at the vague replies and false verbal assurances and failure for time-bound compliances by the liquidator which have not materialised till date,” they stated in the release.
“During the meeting, it was brought to the notice that all their letters from April to November addressed to the liquidator which were personally handed over to him have not been acknowledged or replied to in writing. On the other hand, the depositors’ letters addressed to other offices of the RBI Chief Manager Mumbai, Finance Ministry, New Delhi; RBI Panjim (Goa), Consumer Education and Protection Cell, Panjim (CEPC-RBI) and including the Prime Minister of India have taken cognizance of our grievances within 48 hours. We are proud to admit that all other distinguished authorities have also responded in writing,” the depositors mentioned.
Earlier, at the meeting held on November 17, with the liquidator, the grievances of the depositors have also been mentioned, which included issues such as defaulters, bad loans, recovery, etc. they said and complained that the list of defaulters have not been made public as yet.
“On the contrary we were shown notices sent to respective village talathis and expectedly not receiving any response after expiry of three months, the liquidator and his appointed clarification officer are considering sending the talathis a reminder. It is common knowledge that talathis being at the lower rung in the revenue structure in Goa are allegedly prone to malafide practices since being conversant with the intricacies of law. The circular from the Finance Ministry, New Delhi, to Chief Secretary of Goa clearly mandates that the District Magistrates to be involved in the recovery of dues from the defaulters and obviously not the talathis,” the strongly worded release stated.
“The depositors fail to understand under which provisions of law, the press release dated October 31, was authorised and issued by Shailendra Sawant as general manager of MUCB granting the defaulters further time till May 31, 2021 to clear their dues. This gives the defaulters unheard of unprecedented additional 212 days from the date of press release or 402 days from the date of appointment of the liquidator on April 24, 2020,” they added.
The depositors had demanded from the liquidator to immediately withdraw the unwarranted extended liberty to the borrowers and defaulters that is going to have adverse impact on recovery of depositors’ funds.
“The results of such liquidation proceedings will only delay the recovery of assets, loans availed by willful defaulters will prolong the hardships faced by depositors and extend the tenure of liquidator,” the release added.
It also stated that there is complete lack of information as to the mode and time-bound payment computed in favour of the depositors up to a monetary ceiling of Rs five lakh as per DICGC Act, 1961.
“The liquidator was also requested on November 17 for the copy of the Statement of Accounts and the balance sheet for financial year April 2019-March 2020. The clarification officer Shaleindra Sawant had assured the same would be furnished within two days and in the last meeting on November 24, we were informed that it was not yet ready,” the release stated.
There are over two lakh depositors with deposits of Rs 355 crore.
“The denial of their hard earned money has enhanced their misery and sufferings. It has entered the sixth year since July 24, 2015, making it difficult to survive and maintain families’ livelihood, education of children and payments towards medical ailments especially during the COVID-19 pandemic. Trust better sense prevails and the liquidation is expedited,” said the release.
