|
The Reserve Bank of India vide directive UBD.CO.BSD-I/D-28/12.22.2018/2012-13 dated February 21, 2013 had positioned the Rupee Co-operative Bank Ltd., Pune, Maharashtra underneath Directions from the shut of business on February 22, 2013. The validity of the instructions was prolonged once in a while, the final being as much as August 31, 2022. 2. It is hereby notified for the data of the general public that, the Reserve Bank of India, in train of powers vested in it underneath sub part (1) of Section 35 A learn with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall proceed to use to the financial institution until September 22, 2022 as per the directive DOR.MON/D-27/12.22.218/2022-23 dated August 26, 2022, topic to evaluation. 3. All different phrases and circumstances of the Directive underneath reference shall stay unchanged. A replica of the directive dated August 26, 2022 notifying the above extension is displayed on the financial institution’s premises for the perusal of public. 4. It is pertinent to notice that the Reserve Bank of India, vide order dated August 08, 2022, has cancelled the licence of Rupee Co-operative Bank Ltd, Pune on August 10, 2022. In compliance to the Hon’ble High Court of Bombay order dated September 12, 2017 in Writ Petition No. 2938 of 2014 (Bank Employees Union, Pune vs. The State of Maharashtra & Ors.) with Writ Petition No. 9286 of 2017 (Naresh Vasant Raut & Ors. Vs. The State of Maharashtra & Ors), the order shall develop into efficient after six weeks from August 10, 2022. Consequently, the financial institution will stop to hold on banking business, with impact from September 22, 2022. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has additionally been requested to situation an order for winding up the financial institution and appoint a liquidator for the financial institution. (Yogesh Dayal) Press Release: 2022-2023/773 |
