MARGAO
In an interesting development, the Madgaum Urban Cooperative Bank (MUCB) has decided to hold the 48th adjourned Annual General virtual meeting of the bank on February 21.
In a notice, MUCB Managing Director Kishore Amonkar said that members who are part of the adjournment meeting have been requested to go to the closest branch and submit their applications for attending the “virtual meeting” on February 21 and collect the procedural guidelines.
The notice stated that the application is required to capture necessary details to facilitate joining the scheduled virtual meeting.
The notice has requested the members to carry details such as their share membership number and email ID. The last date for members to submit the applications is Monday, February 15.
“Subsequently, web link to the virtual meeting shall be enabled for the registered members”, he said, adding that the meeting will commence at 10 am on Sunday, February 21.
Defending the decision, MUCB Managing Director Kishore Amonkar said the decision to hold the virtual meeting has been taken because of the Covid-19 pandemic situation in the state.
When The Goan drew his attention to the government decision to hold the Carnival parades in Panaji and Margao next week, Amonkar said the bank has taken the decision to hold the virtual meeting as the MHA guidelines and SOPs are still in place.
“Since the shareholders have held meetings on the status of the bank after the RBI restrictions, we expect a large turn out of shareholders for the adjourned meeting, which would end up in violating the MHA guidelines,” he said, while defending the decision.
To a question, Amonkar pointed out that the adjourned meeting will only transact the remaining business listed on the agenda, including the appointment of auditors. “Only two items on the agenda will be taken up for discussions during the virtual meeting,” he said.
The MUCB Board of Directors had come under fire from the shareholders holding the directors responsible for the present state of affairs of the bank.
The AGM scheduled on December 26 last was adjourned after the shareholders demanded that the bank unveil the list of defaulters, a demand which was later rejected by the Board.
