Leaders of NCP factions lock horn over ‘irregularities’ in Maharashtra transport co-op bank

Pawar demanded that the state’s cooperation department should immediately remove the managing director and also scrap the managing committee before it is too late to protect the bank from financial bankruptcy.

Two days before, Shiv Sena (UBT) MLC Anil Parab too had raised the issue in the legislative council alleging that Gunratna’s 23-year- old brother-in-law is appointed as the managing director of the bank.

Walse-Patil said that a committee has been formed to look into the allegations of irregularities.

“A committee has been formed by the cooperation department to probe into various allegations of financial irregularities in the bank. The committee will give its report within two months and based on that further action will be taken,” the minister said .

Pawar claimed that due to the mismanagement in the bank, deposits worth Rs 400-500 crore are being withdrawn. The minister asked him to calm down several times saying it was not true and deposits worth Rs 180 crore only have been withdrawn.

Three months ago, a panel led by Sadavarte won the bank’s election for the board of directors. Since then, several complaints are being reported about the functioning of the bank.

According to the written reply from the state government, the board of directors reduced the bank’s interest rates on loan. However, the RBI directed to withdraw this decision.

Leader of Opposition vijay Wadettiwar asked the state government to speed up the inquiry and complete it within one month, instead of two.