Apex Cooperative Bank irregularities alleged by PIL
By Vaibhav Aggarwal
Nov 25, 2013
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Notices have been issued by the Bombay High Court as a response towards the litigations of public interest regarding the irregularities of Rs. 1,500 crore to the Co-operative department of Maharashtra and it's director. Yesterday the PIL was heard by Justice SF Vajifdar who headed the division bench. looked for answers in two weeks.

They need errand of a chairman and an analysis. MDCCB offered advances to helpful social orders in violation of principles and as a rule borrower defaulted, the request says. In a few cases credits were propelled regardless of unfriendly reports by advance investigators of MDCCB or they were authorized without any assessment report whatsoever, the applicants assert.

Before the loans were sanctioned to the employees of the women's cooperative bodies and cooperative credit society, the verification of the actual functioning of the borrower institutes were not verified.

Representations to NABARD and RBI did not get any reaction and reports of test led by NABARD and state collaboration division were not made open, the PIL says.

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