Gunaratna and Jayashree Sadavarte Stripped of Posts as ST Bank Directors Amid Allegations of Illegal Activities

Mumbai: The Department of Co-operatives has stripped Gunaratna Sadavarte and his wife Jayashree Sadavarte of their posts as directors of ST Bank. The board of directors has also been forced to repeal the bylaws passed illegally at the bank's meeting. Sandeep Shinde of the ST Trade Union had filed a complaint in this regard. 

Also Read | Maharashtra Legislative Council Elections: Mumbai and Konkan Graduates, Teachers' Seats Up for Grabs on June 10th

According to the complaint filed by Sandeep Shinde, central president of the trade union, the directors of the Sadavarte panel had organized the annual meeting of ST co-operative Bank in Yavatmal. The report was not distributed to the members before the meeting. Members were required to notify the Annual General Meeting 14 days in advance of the Annual Meeting. No such instructions were given by the Board of Directors.

He had illegally passed a resolution that the chairman and vice-chairman of the bank should be from the elected directors. The resolution has been rejected by the Cooperative Department.
A resolution to grant bank membership to people outside ST has also been rejected. Sandeep Shinde had complained to the Cooperatives department about these and 13 such illegal issues. The Cooperatives department has also put on hold the illegal recruitment of employees.
Resolutions that were illegally passed at the Annual General Meetings have been put on hold by the Department of Cooperatives. Gunaratna Sadavarte alleged that this false propaganda was going on before the elections.