MAPUSA
The Mapusa Urban Cooperative Bank (MUCB), which is under liquidation, has requested all loanees who have availed of loans with the bank to repay their entire loan within 15 days, latest by March 31.
The MUCB has also said that those persons who fail to repay their loans within the time limit will invite coercive action including making their names public on the bank website and in the media.
“One last and final opportunity of 15 days up to March 31 is being given to all loanees to repay their entire loan irrespective of the period for which the loan was granted,” said Anthony de Sa, Liquidator of the bank in a public notice.
Incidentally, soon after the process of the liquidation began, the bank had announced a one-time settlement scheme (OTS) to expedite the repayment of the outstanding loans.
According to the liquidator, a significant number of loanees have taken advantage of the OTS and settled their dues but some loanees have neither cleared their dues nor have applied for the OTS.
De Sa also said that non-payment of the loans within the stipulated time will force the liquidator to pursue coercive action according to the law for the recovery of loan amount with interest under the Goa Land Revenue Code through both the district magistrates.
He further warned that the names of all defaulting loanees will be published on the bank website and will be given wide publicity in the media as wilful defaulters.
The MUCB has been under liquidation since April 16, 2020 and the process to settle depositors claim started soon thereafter.
The then liquidator had issued a public notice under Rule 28 (b) of the Multi-State Co-operative Societies Rules, 2002 on September 30, 2020 calling upon all persons who had availed of loans to repay the loan latest by May 31, 2021.
Several people took advantage of the OTS and settled their loans but some loanees have failed to clear their dues and therefore fresh notice was issued giving them a final chance.
