MARGAO
Officially setting in motion the process for the liquidation of the Madgaum Urban Cooperative Bank (MUCB), the government-appointed liquidator has called upon all the 56,635 depositors, having claims against the bank to submit their claims within two months starting Tuesday.
The MUCB has also requested all the locker holders to arrange for the surrender of lockers and take custody of their valuables on or before September 30.
The MUCB on Tuesday set in motion the liquidation of the MUCB and the return of the deposits amounting to Rs 189.81 crore to the depositors.
The depositors have been told to submit the depositors’ claim forms to the respective branch of the bank during office hours.
In his notice, the government-appointed liquidator S V Naik has requested all the claimants to strictly follow the guidelines of the pandemic and ensure that the branches are now crowded and to cooperate with the branch personnel.
The claims received will be investigated and decided on the basis of account books of the bank and as per Deposit Insurance and Credit Guarantee Corporation (DICGC) general terms and conditions.
To take the process forward, the liquidator has appointed the Managing Director of MUCB Kishore Surya Amonkar as the designated officer for further clarification, if any. Depositors can contact Amonkar on 9850853828.
Amonkar told The Goan that the depositors can collect and submit their duly-filled claim forms at any of the bank branches at Margao, Benaulim, Curtorim, Sanguem, San Andre, Ponda and Panaji.
The bank is believed to have printed thousands of claim forms to facilitate the depositors to lay claim on their deposits with the bank.
Amonkar added: “Once the bank is in receipt of the duly-filled up claims, they will be processed as per the rules and after scrutiny will be forwarded to the DICGC. The agency will then conduct an audit of the bank accounts before taking the process to its logical conclusion”.
The MUCB has told the RBI that about 99 per cent of the depositors will receive full amounts of their deposits from DICGC. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5,00,000 (rupees five lakh only) from the DICGC subject to the provisions of the DICGC Act, 1961.
