Team Herald
MARGAO: Soon after the order issued by the Reserve Bank of India withdrawing the licence of Madgaum Urban Cooperative Bank (MUCB), shareholders and long-term depositors have demanded action against all former chairmen, besides all the responsible directors with regard to misappropriation of the bank funds.
They demanded immediate inquiry by the government.
Speaking to the media persons, many account holders and even the ex-staff of the bank alleged that misappropriation of funds has led to the pathetic situation of the bank, despite alerting the Board of Directors about the bad situations.
Former staff and share-holder of the MUCB Chandan Naik demanded action against all the responsible officials, including the auditors who misguided the bank.
“Looking at the position of the bank functioning, the government needs to start inquiry through the CBI or Economic Cell on the misappropriation of the funds. The inquiry needs to be conducted at the earliest,” stated Chandan.
“All responsible should be booked under Money Laundering Act. All responsible should be booked and losses should be recovered from them,” he urged.
Chandan said the deposits in the bank are hard-earned money of the people.
“I had alerted the Board of Directors soon after getting retired from the bank but nothing had been done and as a result, we witnessed cancellation of the licence,” he stated.
Another depositor Sunil Naik said that the news of MUCB with regard to the cancellation of the licence is shocking to all the people of Margao.
Sunil said that no injustice should be done against the account holders and hence the government needs to conduct an inquiry against all those responsible for this situation, so that the money is recovered.
He demanded to depart all the chartered accountants, who had wrongly done an audit of the MUCB.
