MAPUSA
Questioning the delay in settling the account holders of the defunct Mapusa Urban Co-operative Bank, the depositors of the bank have demanded that the liquidator immediately set in motion the liquidation process and pay up the amount owed to the depositors.
The depositors have also expressed unhappiness with the delay and the approach adopted by the liquidator Dawlat Hawaldar towards liquidation proceedings of the MUCB.
“The liquidator should immediately set in motion liquidation proceedings of paying the depositors as per the DICGS Act, 1961, wherein every depositor is entitled to repayment of deposit up to monetary ceiling of Rs 5 lakh. Depositors
having more than Rs 5 lakh has to be reimbursed on finalisation of valuation of assets, building and various liabilities,” the depositors said in a press note signed by Prabhakar Salgaonkar, Joseph Carneiro and Arun Khaunte.
The monies of the depositors amounting to over Rs 300 crore have remained frozen in the bank since July 24, 2015 after the Reserve Bank of India enforced an embargo on the bank due to financial irregularities.
Later, the MUCB banking licence was cancelled by the RBI on April 16, 2020 and the liquidation process was set in motion with the appointment of Daulat Hawaldar as the liquidator of the bank by the Central Registrar, New Delhi.
According to the depositors as per RBI guidelines, the liquidator is empowered to register complaints on bank officials and the managing committee members with the Economic Offences Wing and the Enforcement Directorate.
“Similar bank offences in Maharashtra culminated in the arrest/imprisonment of the bank chairman, general manager and board of directors followed by seizure of their assets. Unfortunately, the liquidator has failed to take any such actions,” the depositors said.
The depositors informed that they had a meeting with Daulat Hawaldar and the Clarification Officer, Shailendra Sawant and presented a copy of their petition to the liquidator.
At the meeting, the depositors have requested to furnish a list of Mapusa Urban Co-operative Bank defaulters and also to issue a public notice that Hawaldar has retired from the service of the Goa government but continues as the liquidator of the Mapusa Urban Co-operative Bank.
They said that Hawaldar has agreed to make himself available to the depositors between 11 am to 1.30 pm every Tuesday.
