Misappropriation, cheating complaint filed in city


A shareholder of Goa Urban Cooperative Bank ltd, Mr Rui Ferreira, has lodged a police complaint with the Panaji town police, against the chairman, Vishnoo A Naik and the managing director, Vilas Narkar, for allegedly illegally recruiting or re-employing Shyam Naik as a bank officer.
Mr Ferreira alleged that Voluntary Retirement Scheme was offered and availed by Shyam Naik on April 30, 2006, at the age of 52, on the condition that retiring officers under the VRS will not be employed by the bank again.
The complainant also alleged that Naik has received in access of Rs 20 lakh, for the balance period of service, up to the age of superannuation, being 58 years. However, he has been r-employed at the age of 56, apparently on a contract basis, with a salary of Rs 30,000 per month from May 2, 2011.
The contract stated that he has been paid double emoluments to the extend of Rs 6.30 lakh which needs to be immediately recovered in the interest of shareholders, said Mr Ferreira.
He pointed to a circular issued by the registrar of cooperative society under section 68 of Goa Cooperative Society’s Act-2001, that whenever any increase of work or business turn over the service was required to be assessed by staff assessment and selection committee, which should consists of representative of registrar and upon submitting a report of the registrar staff can be recruited or employed on any other pseudo mode of employment.
He also alleged that he is an undergraduate, so he is ineligible in the present circumstances for the post of the official in the bank. He has said that the chairman and the managing director committed breach of trust, committed misappropriation and cheated, attracting sections 403, 404 and 415 of IPC and punishable under 404, 406 and 417 to 420 of IPC. [NT]