Complaint against coop bank authorities for cheating

Jamnagar, Nov 3 (UNI) The Jamnagar district registrar has filed a police complaint against 13 directors and the General Manager of the Navanagar Cooperative Bank for investing Rs 30.5 crore without complying with the norms.

They had violated Section 71 of Gujarat Sahkari Mandali Abhiyan 1961, under which they should have taken permission before going ahead with the investments.

The investments had been made in Mumbai Mercantile Bank, ICICI Bank and Coopertive Bank of Ahmedabad.

In another related case, the Bhavnagar district registrar too has reported a case against three members of the Patel Credit Society at Botad and its manager for irregularities committed to the tune of Rs 53 lakh.

Botad police have registered a case and further investigations are on.

UNI XR-VN/MMG SSS PDM BD2108