Anger and confusion marked the 29th annual general body meeting (AGM) of the ailing Nagpur Mahila Nagarik Sahkari Bank Ltd here, as depositors and shareholders of the bank demanded the resignation of the bank's board. | |
| The bank authorities later adjourned the meeting to a later date. |
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| This was the first AGM of the bank after the Rs 4.56 crore Hemani Group scam surfaced resulting in a run on the bank. |
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| The Reserve Bank of India (RBI) had imposed a moratorium on the bank's transactions. |
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| The commotion started when the bank chairperson Savita Kale entered the meeting hall. She was accompanied by directors Anuradha Joshi, Sunanda Barlingay, Suvarnarekha Chandurkar, Kalpana Nandeshwar, Suman Kashikar and employee director Megha Varhadpande. |
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| The shareholders raised corruption charges against the directors and demanded their resignation. They also demanded that an administrator be appointed over the bank. Interestingly, among the protesting shareholders were also some loan defaulters, bank sources said. |
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| A clash broke out between the shareholders and some bank employees. The employees were offended by the insults hurled on their bosses. |
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| The employees were later told to go out of the hall by director Anuradha Joshi. The commotion went on for over two hours. The meeting did not start till then. After this, directors Barlingay, Chandurkar, Kalpana Nandeshwar and Suman Kashikar left the hall. |
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| Savita Kale blamed some employees for the bank's sorry situation. The RBI has said that it will relax restrictions as the bank improves, she said. |
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| The bank has recovered Rs 5.25 crore since the moratorium was clamped. The bank has also lodged a complaint against Dena Bank. The process has started before the banking ombudsman too, she said. |
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| She asked for the co-operation of the shareholders in bringing back normalcy. |
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| The shareholders, however, were not satisfied by this. They said that the directors cannot transfer their responsibility to the employees. They demanded that the AGM should be declared as cancelled as none of the subjects were taken up. |
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| In the end, Savita Kale declared in the statement that 'due to shareholders' opposition, the AGM could not carry out its work....and as suggested by the shareholders, this AGM has been adjourned. The shareholders have approved expenditure for the next AGM". |
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