Co-Op bank chairman disqualified
Patna,5 June(HS):Registrar of co-operative societies,Rachna Patil has disqualified the chairman of the state co-operative bank,.Ram Chandra Dubey and initiated action against two successive managng directors and 11 directors on charges of alleged financial irregularities.
Rachna Patil issued the disqualification orders on May 30 accusing them of financial irregularities of Rs 4.5 crores.
Dubey who is also vice-chairman of the National co-operative banks federation was chairman of the Rohtas-Kaimur co-operative bank earlier.
Dubey said the disqualification orders were issued though the issue is pending in the Patna High Court,where Justice Rajiv Ranjan Prasad has fixed June 24 as the next date of hearing.
Dubey claimed there waqs no irregularity as the bank had issued the utilisation certificates of Rs 4.50 crores co-operative fund which was given to 22 district co-operative banks and 105 primary agriculture co-operative society for development of infrastructure facilities.Each of the district co-operative banks were given Rs 10 lakhs and PACs got Rs 2.5 lakhs.
The two managing directors indicted by the registrar are-B K Sinha and Suresh Prasad)
