HC notice to Goa Urban Coop Bank


The high court of Bombay at Goa recently issued notices to the registrar of co-operative societies and two others on a plea challenging the appointment of Vishnoo Naik as the chairman of the Goa Urban Co-operative Bank Limited (GUCBL).
The respondents, including Naik and the bank, also have to reply by March 11. The petition is filed by Rui Ferreira from Panaji and others. The petitioners have stated that on March 12, 2012, Naik was appointed as director in the category of chartered accountant, with banking accounting and auditing experience. Later on March 22, 2012, he was elected as the chairman of the bank.
The petitioners have raised an issue before the court as to whether Naik, who is not an elected director, could have been appointed as chairman of the bank "as under the Goa Co-operative Societies Act, and the bye laws of the society only an elected director can be appointed as the chairman of the bank". [TOI]