MAPUSA: A delegation of the shareholders of the Mapusa Urban Co-Operative Bank of Goa Ltd (MUCB) on Saturday apprised the officer on special duty (OSD) to Chief Minister Manohar Parrikar and Rajya Sabha MP Vinay Tendulkar on the financial condition of the bank.
In a memorandum submitted to them, the delegation stated that the financial condition of the bank was dire due to the misappropriation of Rs 67 crore under the Onetime Settlement (OTS) scheme. The delegation was led by Rajsingh Rane, the convener of the shareholders.
In a press statement, the delegation said that it has requested the OSD and Tendulkar to take measures to launch an enquiry into the implementation of the OTS scheme from year 2005 to 2015 by the then board of directors. According to the press statement, the delegation has also requested the OSD and Tendulkar to appoint an administrator to look into the affairs of the bank as well as to hold the elections under guidance and supervision of the administrator. “There have been several onetime settlements granted to major loanees and hence the bank has lost out on interest,” the statement reads as.
If elections are held under the present “care taker board”, the delegation said in the memorandum, it feared “the repetition of 2010 and 2015 elections manipulation and hijacking of the whole process.”
The memorandum demanded a free and fair election so that all the shareholders could exercise their right to choose the new board. The delegation opined that the present board has no moral right to take any decision related to the bank since they themselves have resigned.
