Protestors allege director of Pune’s Muslim Co-operative Bank is ‘dictator’ | pune news | Hindustan Times
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Protestors allege director of Pune’s Muslim Co-operative Bank is ‘dictator’

They demanded accountability and implementation of democratic mechanism in the functioning of the bank

pune Updated: Oct 10, 2017 17:20 IST
Nadeem Inamdar
Most of the protestors who gathered at the administrative office of Muslim Co-operative Bank Ltd at Bhavani Peth in Pune on Monday were from Baramati.
Most of the protestors who gathered at the administrative office of Muslim Co-operative Bank Ltd at Bhavani Peth in Pune on Monday were from Baramati.(PHOTO HT)

A group of over forty people, mostly from Baramati, led by Muslim Co-operative Bank Limited directors Imtiaz Shikilkar and SM Iqbal staged a protest against the chairman PA Inamdar outside the bank’s office in Bhavani Peth on Monday amidst police security. The protestors carried placards with some bearing quotes in Marathi meaning “Down with the dictator”, “Say no to corruption and family dynasty”, “no room for dictatorship ” and “bring transparency and accountability”. The demonstration was held at the main gate of Golden Jubilee Technical Institute where the bank is based.

The angry protestors demanded complete accountability and implementation of democratic mechanism in the functioning of the bank. They raised slogans against Inamdar and the chief executive officer of the bank. Later, four protestors went inside the building along with the police and handed over the protest memorandum to Inamdar’s brother Ali who is also an office-bearer of the bank. One of Inamdar’s supporters identified as Shabbir Qureshi tried to explain the protestors to back off but was labelled as an “agent of Inamdar “, and allegedly pushed aside.

Speaking to Hindustan Times, Shikilkar said that protests against Inamdar will continue till he accepts the demands and initiates democratic reforms in his administration, especially the bank. “He is planting his people all over the place and his yes men want to hold the entire community to ransom in the name of community service which is a fake mask. The corruption runs deep in the bank and we have complained to the Reserve Bank of India (RBI) and States Co-operatives Commissioner to take strong action in this regard. Inamdar may have paid money worth lakhs of rupees to employ security guards but they were never hired, and it exposes the level of corruption carried out by the bank with the chairman’s consent.’

Meanwhile, the bank’s chairman, Inamdar, said that his opponents have no proof to substantiate the allegations made against him and the bank management. “ It is a ploy to slander and malign my image in public eyes but they will never be successful as they don’t have any merit in them. I take people along with me in my work for the cause of the community and I strongly believe in results and performance. We follow all the set rules, regulations and procedures and don’t’s believe in levelling false allegations.

“The bank is on sound footing and it is the first one amongst 1,500 co-operative banks in the country to have been granted licence by RBI to open current account. This decision by the RBI has boosted our bank’s profile in the global rankings. As far as Shikilkar is concerned, he never opened his mouth during the past one decade and now is suddenly organising protests with a malafide and conspiratorial intent.”

The Muslim Co-operative Bank is currently under investigation by Registrar of State Co-operatives Department and RBI with regards to charges of financial misappropriation and organised fraud levelled by the two directors, who are currently at loggerheads with Inamdar.