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State soon to seek ban on re-election of erring directors in Cooperative banks

In a move to weaken the grip of Congress and NCP leaders on cooperative banks, the state government on Tuesday decided to amend the law to provide for a ban on re-election of erring directors for two terms.

Plans are afoot to bring in an ordinance. The immediate impact of the cabinet decision will be that former deputy chief minister Ajit Pawar, former NCP ministers Vijaysinh Mohite-Patil, Hasan Mushrif, Anandrao Adsul (Shiv Sena), Pandurang Fundkar (BJP), Jayant Patil (PWP), Madhukar Chavan (Congress) and several senior Congress and NCP leaders will be debarred from contesting the elections to cooperative banks for next 10 years. During their tenure as directors of Maharashtra State Cooperative (MSC) Bank, it suffered huge losses. Ajit Pawar is also under the scrutiny of the Anti-Corruption Bureau for alleged irregularities in allotment of contracts for irrigation projects when he was water resources minister.
“The CM’s decision is being viewed as a huge setback to barons in the cooperative field. Most of them were misusing the banks funds for personal gains. Congress and NCP leaders set up their own empire by misusing their official positions. Loans were given to relatives in violation of rules,” said mantralayaa BJP minister


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