Staff Reporter
Panaji
Amid the state government’s move to take over the erstwhile Mapusa Urban Cooperative Bank’s head office building ‘Nandadeep’ for Rs 25 crore, there is no sign of closure of the liquidation proceedings for the beleaguered depositors with deposits valued at
Rs 71.7 crore remaining unpaid as of date.
Depositors on Friday told ‘The Navhind Times’ that the liquidation process has not touched account holders’ money lying in deposits of Rs 5 lakh and more. They said that the move to take over the bank’s premises for the said sum is too less to cover the total amount owed to them.
“A sizeable percentage of large depositors will not get their money back under the present terms of sale. Going by the prevailing land rate in the area, the bank’s one-time headquarters
can easily fetch more to cover the dues owed to all depositors large and small,” said depositors of the liquidated bank.
According to a reply to a RTI plea filed by depositor Joseph S Carneiro, Porvorim, on January 31 this year, with the Deposit Insurance and Credit Guarantee Corporation (DICGC), the present liquid funds with the liquidator is Rs 4 crore, while Rs 71.7 crore is due to large depositors.
The RTI data reveals that the erstwhile multi-state cooperative bank had Rs 356 crore worth of deposits at the time of cancellation of registration by the Reserve Bank of India.
The DICGC had sanctioned claims of 67,513 small depositors valued at Rs 258.5 crore, of which
Rs 254 crore claims of 33,971 depositors had been disbursed as on December 31, 2024.
Claims of 33,542 of depositors valued at Rs 4.4 crore remained undisbursed as no claimants came forward.
“The RTI reply makes no mention of the identity of the liquidator. The government appointed liquidator’s term was from April 24, 2021 to April 23, 2023, and depositors are unaware whether he remains the official liquidator,” said Carneiro.
The RBI ordered the liquidation of MUCB in 2020, and prior to that for five long years, that is since 2015, the bank was barred from conducting banking business.
