Depositors have filed claims for Rs 258 cr so far: MUCB

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Mapusa: Stating that the depositors have filed claims for around Rs 258 crore till date,  general manager of Mapusa Urban Co-operative Bank (MUCB) Shailendra Sawant, on Thursday, appealed to the customers of the bank, who are yet to file claim for their deposit, to submit their claims as the bank is likely to complete its statutory audit in next eight days.

Sawant also requested the borrowers to clear their dues by May 31, 2021.   

It may be recalled that in April 2020, the Mapusa Urban Co-operative Bank was liquidated, and in July 2020, a notice was issued by the appointed liquidator asking the depositors to submit duly filled  ‘depositors’ claim form’ within two months, and period was over in September. 

The liquidator had said that the claims received would be investigated and decided on the basis of accounts books of the bank and as per DICGC general terms and conditions.

The assets of the bank include liquid funds worth Rs 230 crore; owned property,  valued by government valuators at Rs 58 crore and non- banking assets worth Rs 13 crore.

While the total outstanding loan amount stands at Rs 51 crore, form around 2464 borrowers. The bank has a deposit of Rs 355 crore.

Sawant said that “pandemic has affected the deposit claim process as many of our customers are outside the state and also abroad. Despite providing options of claiming through electronic mode some customers are yet to make claims.”

“Till date, we have received total claims for Rs 258 crore along with KYC and documents as per our system. Depositors of around Rs 56 crore, having complied with KYC norms, are yet to make claims. Similarly, even depositors of Rs 40 crore, who have not complied with KYC norms are yet to file claims,” added Sawant.    

He further appealed to all the customers of the bank to file claims as “in the next eight days, the process of statutory audit will be completed, after that data will be handed over to DICGC (RBI) who will  do the audit and then later  DICGC will start repayment of the amount.”

Sawant further appealed to all borrowers to clear their respective loan dues within the timeframe to avoid further action by liquidator as action can be taken as per Land Revenue Code under the Multi-State  Co-operative Societies Act.   

He further said that “16 branches, including the four branches having lockers will be closed next month.”

“We appeal to locker holders of these branches at Aldona (11), Margao (60), Divar (6) and Cansaulim (1) to close their lockers as the branches will be closed and lockers will be shifted to the head office.”