MARGAO
After accepting the demands of the shareholders to unveil the list containing the names of loan defaulters, the Madgaum Urban Cooperative Bank (MUCB) has resolved not to disclose the list of names of defaulters.
That’s not all. The fate of the adjourned general body meeting of MUCB which was fixed on January 10 by the shareholders also hangs in balance with the bank management approaching the Registrar of Cooperative Societies seeking guidance how to go about the matter.
While the Board of Directors at the Annual general body meeting had accepted the demand of the shareholders to compile the list of defaulters, who owe Rs 10 lakh and above to the bank, the Board has now taken the decision not to disclose the names of defaulters.
MUCB Managing Director Kishore Amonkar informed that though the Board had conceded the demand of the general body to disclose the names of the defaulters, the rules does not permit the Board to unveil the names of the defaulters.
In fact, he pointed out that the Board had on December 29 taken a decision not to disclose the list of defaulters after seeking legal opinion. “The Board must have accepted the resolution at the general body given the mood and circumstances at the meeting. But, the Board has to go by the rules in force.
To make doubly sure that the Board act as per the rules, the bank had sought legal opinion which states that the names of defaulters cannot be disclosed”, he said.
When some of the shareholders kept a date with the Bank in the New Year to lay their hands on a copy of the defaulters’ names as decided at the general body meeting, they were surprised to note that the Bank replied in the negative to their requests.
A shareholder Chandan Nayak cried foul over the decision of the MUCB Board seeking sanction from the Registrar of Cooperative Societies to unveil the names of the defaulters. Expressing surprise over the bank’s decision to move the Registrar’s office, Nayak informed that the Bank’s decision only goes to show that the management is not interested in making public the names of the defaulters.
Meanwhile, asked to shed light on the fate of the adjourned meeting fixed on January 10, Madgaum Urban Cooperative Bank Chairman Kishore Narvekar as well as MD Kishore Narvekar said the Board has sought opinion of the Registrar of Cooperative Societies to shed light on the fate of the meeting.
“As per the procedure, only the items listed on the agenda can be transacted at the meeting. No other issue can be taken up for discussions by bypassing the agenda. Since the meeting was adjourned on the demand to compile a list of defaulters, an issue not listed on the agenda, the Board has sought guidance from the Registrar of Societies how to go about the matter”, MUCB MD Amonkar told The Goan.
