Uday G. Shelke, Chairman of Maharashtra based G S Mahanagar Cooperative Bank said the UCB is not involved in any misappropriations of funds and the complainant is making baseless allegations with an intention to tarnish the image. The bank will take legal action against him.
He was giving his reaction to the Indian Cooperative correspondent in the wake of a police complaint filed by Babasaheb Jasud (Customer of the bank) in the Bhosari Police Station located in Pune against the bank officials involved in misappropriations of funds.
Talking in detail Shelke said, “The bank announced Jasud as the defaulter sometime in 2017 and is not paying back the dues. We have to recover more than Rs 10 crore and the bank is in process to auction his property and other assets to recover the amount. We also have got the permission to sell-out but due to Covid-19 there is a delay”, he informed.
Tracing the history Chairman said, in 2016 Jasud had deposited a Cheque of Rs 7.25 lakh and 2.75 lakh from his ICICI bank account to his current and loan account respectively in G S Mahanagar Co-op Bank. The amount was credited to his account. What is our fault and how does the bank indulge in misappropriations of funds? he asked.
“We have provided the police with the records of the credited amount and other evidence and Jasud has admitted in front of the police that he is wrong. Now the bank is planning to take legal action against him for tarnishing the image of the bank and making false allegations”, he asserted.
Meanwhile, according to the complainant cheques deposited into his accounts were misappropriated by the bank officials. Bhosari police lodged an FIR under sections 420 (cheating), 406 (criminal breach of trust), 34 (common intention) of the Indian Penal Code”, media reports say.
Jasud is the owner of Raj Systems Private Ltd, a company which specialises in engineering projects. G S Mahanagar Cooperative Bank has a business mix of Rs 4,000 crore and a network of 67 branches across Maharashtra.