MAPUSA
In order to mop up resources, the Mapusa Urban Cooperative Bank (MUCB) has decided to auction prime property known as “Dona Paula” in Taleigao belonging to a former councillor of Mapusa.
In a public notice, an authorised officer under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) has announced the sale of property belonging to former councillor late Oscar D’Souza of Camarkhazan, Mapusa for recovery of the secured debts of the MUCB.
The property was mortgaged to the bank.
The authorised officer has called for bids for the sale of the immovable property which comprises plain and hilly area and admeasuring 9,560 sq mts in survey no 250/21 and 251/24 at Taleigao.
The reserve price of the property has been fixed at Rs 2.25 crore.
“The property shall not be sold below the reserve price and the successful bidder shall be required to deposit 25 per cent of the bid amount, inclusive of earnest money deposit within two bank working days from date of intimation of acceptance of the bid,” the public notice issued in a local daily said.
In the meanwhile, decrying the slow progress of claims of disbursement, the depositors of Mapusa Urban Cooperative Bank (MUCB) said that claims of a little less than 50 per cent of depositors were settled so far, while disbursement of claims of Rs 5 lakh and above depositors was yet to commence.
While releasing the quarterly statement ending March 2023, the Director of Deposit Insurance and Credit Guarantee Corporation Mumbai (DICGC-RBI) informed that claims of 32,099 depositors under the Rs 5 lakh and below amounting to Rs 249.53 crore has so far been refunded.
The statement also said that claims of 33,864 depositors below the Rs 5 lakh category amounting to Rs 5.11 crore were yet to be released.
“The progress of settling the claims of the depositors is found to be slow. The total outstanding amount due to be paid to both the below and above Rs 5 lakh categories of depositors is around Rs 78 crore,” said Joseph Carneiro, a depositor of the MUCB.
Meanwhile, the case at the CJMFC is further adjourned to June 17 directly for arguments as the Public Prosecutor did not show up at the last hearing on May 6.
It may be recalled, the RBI had cancelled the licence of the MUCB and simultaneously set in motion the liquidation process of the bank on April 16, 2020.
The process to settle the claims of depositors started soon thereafter.
