'Take the decision in next three months'

LOKMAT NEWS NETWORK

Nashik, Oct 6

The High Court (HC) has ordered the Co-Operative Minister to take a decision in the next three months regarding the investigation of the former directors of the Nashik District Central Co-Operative Bank (NDCC) in the case of irregular loan disbursement of Rs 347 crores. Due to this, the problem of the former directors of the bank has increased. The arrears of NDCC Bank have gone up to Rs 900 crores. Efforts are being made on a war footing to take the bank out of the financial crisis.

Meanwhile, a total of 44 persons, including 29 former directors of the bank, have been blamed for disbursing irregular loans of Rs 347 crores.

Meanwhile, Gautam Balsane was appointed to investigate the affairs of the bank. He had filed this charge at the end of the investigation under Section 88. He had sought guidance from the divisional joint registrars as they wanted to issue notices to recover Rs 182 crores from 44 persons including responsible former directors and employees. But the former director appealed to the then Co-Operative Minister Balasaheb Patil, while some directors and employees, including MLAs Dilip Bankar, and Manikrao Kokate filed a petition in the High Court.

The then Co-Operative Minister had suspended recovery from these former directors. However, after the transfer of power last year, the bank's management challenged the Co-Operative Minister's suspension in the High Court on March 7, 2022. The hearing was held recently and the Co-operative Minister in the state government has been directed to give the final decision in the next three months.