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Shareholders demand action against Maharana Pratap Cooperative Urban bank general body
Shareholders and Depositors Association of Maharana Pratap Cooperative Urban Bank alleged that the bank has been doing injustice to them
Amberpet: Shareholders and Depositors Association of Maharana Pratap Cooperative Urban Bank alleged that the bank has been doing injustice to them. Speaking at a press meet in this regard, representatives of the Association Mohan Singh, Sridevi, Kumar and Rashid said that they had founded the bank with the help of Maharana Pratap Trust Board in the year 1999 with noble goals. They alleged that the current administrative board was trying to remove the Trust.
They said that they went to court seeking justice and the court ruled that as per the rules of bank at least one-fifth of members were required to take any decision. The board was illegally adding bogus shareholders and removing shareholders who were questioning the board, they alleged. So far, as many as 850 shareholders have been removed by the board, they said.
The Association members demanded an inquiry be conducted against the illegal activities of the board. They further alleged that board had conducted general body meetings against RBI rules. Association members Raghunath Singh, Ajith Singh, Chandubatla and others were also present on the occasion.
