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Pune Muslim Bank chairman siphoned off Rs 2 crore staff  bonus, allege agitating directors

Bank chairman Inamdar says two directors are blackmailing and pressurising him to go soft on defaulters close to them while seeking favouritism regarding loans to their close acquaintances.

pune Updated: Mar 28, 2018 15:34 IST
Nadeem Inamdar
Nadeem Inamdar
JHindustan Times, Pune
Pune Muslim Co-operative Bank,PA Inamdar,Pune
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)

Fresh protests erupted against the Pune Muslim Co-operative Bank and its chairman PA Inamdar at the bank’s headquarters in Bhavani peth on Monday after two of its directors, Imtiaz Shikilkar and SM Iqbal, along with their supporters comprising a section of bank members, demanded the resignation of Inamdar. The protestors allege that Inamdar allegedly siphoned off Rs 2 crore staff bonus given in terms ofad-hoc allowance and incentives.

Inamdar, however, said that the two bank directors were blackmailing him and pressurising him to go soft on defaulters close to them while seeking favouritism regarding loans to their close acquaintances. They reportedly also wanted him to give donations to their institutions.

Both Shikilkar and Iqbal denied the allegations and demanded proof of the monetary allegations levelled against them by Inamdar.Shikilkar and Iqbal claimed that Inamdar allegedly demanded 50 per cent of the ad-hoc and incentive amount of the bank staffers, aggregating between Rs 2 and Rs 2.5 crore which was illegal.

“Inamdar threatened the employees to give 50 per cent amount of the ad hoc and incentive allowance to him, failing which he said that he will take strict action against them. We will not allow the chairman to siphon off the staff’s money which is their right and continue agitating till he resigns from the bank. The hard-earned money of the staffers is being siphoned off from their bonus, ” Shikilkar said.

Inamdar termed the allegations to be concocted and baseless.“The allegations are being made to pressurise me further in relenting to their illegal demands of going slow on defaulters and donations. The incentive scheme was started by Imtiaz Shikilkar in his tenure. There is a political angle and they want money. The incentive money is the right of the employee and it cannot be denied. The staff get it as a boost for their loan recovery performance. I have officially given Rs10 lakh each to both of them for their educational institute. Yet, both are pressurising me to favour their candidates for loan or those facing loan recovery action. In social work, you do not get a ‘thank you’ and face challenges as a social worker,” Inamdarsaid.

Meanwhile, Iqbal said, “The fight is against the death of democracy in the bank and rules being thrown to the wind by Inamdar. He is facing CBI investigation and the chairman continues to cause hindrances in the investigation.”

“Till today, he has been using his money power and other tactics to keep the bank staffers under fear. He has been doing this in all his institutions since the last 30 years through dictatorship and family rule. He is illegally defrauding the bank and taking money from the employees’ bonus amount. Inamdar must furnish proof for monetary allegations as he is lying,” he said.

Asif Khan, editor of Secular Writer from Baramati, said, “PA Inamdar must step down from the post of the bank chairman with immediate effect. He is threatening the staff and has siphoned off money from incentives and bonus deserving to the bank employees which is illegal and need strict action. The corruption done by him is currently being investigated by RBI, CBI and the co-operatives department. The investigation is being done in the most professional way which will bring out his criminal acts in public soon.”


First Published: Mar 28, 2018 15:30 IST