MARGAO
In a major decision, the Board of Directors of Madgaum Urban Cooperative Bank has resolved not to hold the adjourned general body meeting on January 10 on the premise that the venue had led to
violation of Covid norms
last time.
A group of shareholders, however, has decided to go ahead with the adjourned meeting scheduled on Sunday at the same venue. The shareholders also slammed the MUCB Board for its refusal to share the names of the loan defaulters as demanded by the general body.
After the Board of Directors meeting on Friday evening, MUCB Managing Director Kishore told the media that the Board has decided to postpone the meeting scheduled on Sunday, January 10.
He pointed out that the number of attendees at the annual general meeting held on December 26 led to the violation of Covid-19 norms as prescribed by the Ministry of Home Affairs, Ministry of Health and Family Welfare, Health department and office of Collector and District magistrate, South Goa.
“Taking cognizance of the same and directions received from competent authorities suggested that the AGM be held at a venue having large capacity or to find out other ways of concluding the meeting by abiding to general guidelines/directions from various authorities,” Amonkar said, adding that the BOD thus decided to postpone the meeting scheduled on Sunday.
The shareholders comprising of Dionisio Sardinha, Dr Ashish Kamat, Milagres Menezes and Simon Barretto gave a call to the shareholders from across the state to turn up in large numbers for the adjourned meeting on Sunday.
They also took strong exception to the decision of the MUCB Board rejecting the demand of the shareholders to disclose the names of the loan defaulters.
The trio thanked the judiciary for converting the letter written by the beleaguered depositors into a writ petition and expressed their confidence that they will get justice from the High Court.
Addressing the media, shareholder Dionisio Sardinha said if the MUCB Board has decided not to hold the adjourned meeting on Sunday, the depositors will descend on the venue in large numbers and take decisions to protect the interests of the depositors.
“The shareholders will come for the adjourned meeting on Sunday. We will chalk out the future course of action to secure the interests of the shareholders,” he added.
Sardinha and Kamat demanded to know the provision of law that bars disclosure of names of loan depositors. Sardinha said many a cooperative bank had in the past put up the names of defaulters on the notice board for the information of the shareholders.
“Why only the MUCB cannot disclose the names of defaulters?” Sardinha questioned and demanded to know why some of the Board of Directors were allowed to resign from office.
