the goan I network
MAPUSA
Dozens of depositors and account holders of Mapusa Urban Coop Bank (MUCB) have demanded action against the bank’s board of directors, failing which they have threatened to stage a protest march at the Goa Assembly.
The account holders and depositors of the various branches of the bank in the State staged a protest in front of the bank’s headquarters at Nandadeep to protest against the failure by the BoD to guide the bank out of financial crisis.
They claimed that irregularities, frauds and mismanagement by the Board of Directors which has led the RBI to impose an embargo on the functioning of the bank.
Accusing the MUCB BoD of cheated the depositors, four aggrieved persons, Joseph Carneiro. Maria Emeda, Kunda Keni and Nikhil Borde, alleged that the BoD had been acting as if the bank is their personal property.
Probe properties
Insisting that the names of defaulters must be declared, they demanded an inquiry into properties of those who are on the BoD and said they must be auctioned off so that the money could be refunded to the depositors.
Earlier in a press note, the aggrieved depositors and account holders had claimed that unwarranted grief and misery had been imposed on them “due to irregularities, fraud and mismanagement by the Board of Directors which has led the RBI to impose an embargo on the functioning of the bank.”
“The embargo ends on February 18, 2020 after which the fate of the MUCB and over three lakh depositors remain unknown,” the depositors had said in the press note.
The depositors claimed that they have filed an FIR for fraud against the board of directors at the Panaji Police Station and registered a complaint before the Economic Offences Cell, Altinho.
The depositors have said unwarranted hardships were forced by MUCB upon them in spite of having sufficient funds.
“The MUCB through banking fraud has burdened the unsuspecting depositors to suffer untold hardships due to no fault of theirs,” the press note said.
The depositors pledged to expand and take the agitation further by organizing similar protests at other branches of the bank.
