In a funny turn of events Chairman Emeritus Ramesh Kumar Bung of AP Mahesh Bank becomes the Vice-Chairman of the same entity- AP Mahesh Bank.
One may wonder but this is true. And to understand this one has to go into the background of a complaint lodged with the Central Registrar on the blatant misuse of the designation “Chairman Emeritus”.
Indian Cooperative has learnt that a complainant from Andhra Pradesh has objected to creating the position of Chairman Emeritus in the Bank and filed a complaint with the Central Registrar.
His argument is simple- there is no mention of Chairman Emeritus in the Bye-laws of the co-op bank or in the MSCS Act. The position is created after passing the resolution in General Body arbitrarily, he is reported to have argued.
Several co-operators, Indian Cooperative talked to, also objected to this practice of “accommodating” the seniors by designating them as emeritus. “There is no need for creation of additional posts; such Chairman Emeritus have neither statutory power and nor well-defined duty; They are not ready for let-go even when their terms are over”, they argued.
Coming to AP Mahesh Bank and Bung’s demotion from Emeritus to Vice-Chairman, it is being said that in a hurry AP Mahesh Bank made Ramesh Kumar Bung the Vice-Chairman of the Bank so that his dignity is preserved.
The top management of AP’s leading bank are currently busy visiting the Central Registrar office explaining their position and making arguments to keep the designation intact for Ramesh Bung, who has already served as the Chairman of the UCB in the past.
The Bank Chairman Emeritus Ramesh Kumar Bung and CEO Umesh Chand Asawa had visited the office of Central Registrar on last Thursday and put forward their arguments.
The practice of having Chairman Emeritus is not limited to AP Mahesh Bank. There are many Multi-State Cooperative Banks including Kalupur Commercial Cooperative Bank, Cosmos Cooperative Bank, Visakhapatnam Cooperative Bank and others, which have created the position of Chairman Emeritus.
Even the apex body of UCBs, Nafcub has created the position for H K Patil in their last election.
God forbid, if Bung’s head rolls, many top names in the UCB sector would be in trouble.