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Co-op Commissioner issues show cause notice to Pune Muslim Bank Chairman

Vijay Zade, state co-operatives commissioner has given fifteen days period to PA Inamdar, chairman of Pune Muslim Co-operative Bank to respond to the notice and has asked him to appear before the office on September 26.

pune Updated: Sep 16, 2018 17:07 IST
HT CORRESPONDENT
HT CORRESPONDENT
Hindustan Times, Pune
pune,PA Inamdar,chairman of Pune Muslim Co-operative Bank
Committee members and account holders of Muslim Co-Op bank Ltd demonstrated against the bank’s chairman PA Inamdar in Pune on March 26.(RAVINDRA JOSHI/HT PHOTO)

Vijay Zade, state co-operatives commissioner and registrar has issued a show cause notice to PA Inamdar, chairman of Pune Muslim Co-operative Bank in connection with complaints related to alleged violations and irregularities in the functioning of the bank.

This has been brought to light when the details were filed by current directors Imtiaz Latifbhai Shikilkar , SM Iqbal and Asif Khan with the co-operatives department. The notice stated that PA Inamdar had issued donations to his relatives in the institution where he has been the trustee in contravention with Reserve Bank of India (RBI) guidelines. The notice stated that the violations made him ineligible to serve as the chairman of the bank. The notice while referring to the bank audit report said that Inamdar had remained the director of the bank from 2008 till date. The Inamdar multi-speciality hospital is run by Crescent medical education trust and Inamdar is a also trustee of the said hospital. The bank made computer purchases through the firm of Inamdar’s son in violation of section 57 of the act, it stated.

Zade also said Inamdar had violated section 57 (1) (A) which has affected the functioning of the bank as an institution. Prime facie it appears that he is ineligible for the post of Bank Chairman. Why should not Inamdar be removed from the post of Bank Chairman and why he should not be declared ineligible for the post for the next five years, the notice questioned.

Zade has given fifteen days period to Inamdar to respond to the notice and has asked him to appear before the office on September 26.

First Published: Sep 16, 2018 17:06 IST