Nishikant Khajuria
JAMMU, Dec 22: After taking over control of the Citizen’s Cooperative Bank Ltd, Jammu, the Government has launched biggest ever drive for recoveries of NPAs by issuing necessary summons and warrants against the defaulters.
Setting a target to lower down the NPAs worth Rs 48 crores to almost half by end of the current financial year, the bank has issued summons to more than 1500 defaulters and warrants in 32 cases while in two cases, attachment orders have been issued by the Tehsildar Recovery, official sources told the Excelsior.
The defaulters include some prominent businessmen and influential, who did not return the bank loans thus swelling Non-Performing Assets (NPAs) to Rs 48 crores of the CCBL, which has total deposits of Rs 307 crores and Rs 173 crore advances, sources added.
The NPAs include loans of different nature and amount, including big loans ranging from Rs 25 lakh to Rs 40 lakh, production loans, car loans, consumer loans and small loans
The defaults, against whom warrants have been issued under Land Revenue Act, include Vipan Kumar of Kanak Mandi, M/s Try On Kanak Mandi (Prop Rakesh Kumar), Bharat Bushan (Guarantor) of Kanak Mandi in case of M/s R K Jain, Roop Lal Bharat Bushan, Kanak Mandi (Guarantor Tarun Gupta), Rajan Mahajan of Kanak Mandi, Rohit Sotra of Kanak Mandi, Ashok Kumar of Kanak Mandi, Laxmi Handloom Kanak Mandi, G S. Photostat Ware House, Ashok Kholi of Ware House, Narula Shoes Ware House, Sardar Manjeet Singh Ware House (Balbir Singh Guarantor), Abhishek Sharma Ware House, Bombay Collection Moti Bazar, Durga Trader Moti Bazaar, Amarjeet Singh Vinayak Bazar, Aman Gupta Vinayak Bazar, Kulbir Singh Vinayak Bazar, Nazir Alam of New Plots, Shivam Karyana New Plots (Prop Parshant Puri), Chinar Soft Drink New Plots (Prop Ravi Sethi and Vijay Kumar Guarantor), Bamba Karyana Store New Plots (Prop Gulshan Kumar and Guarantor Sanjay Amla), S. Manohar Singh of Sheikh Nagar and Manmohan Sharma of Sheikh Nagar.
In case of Roshni Plastics, Ware House and Osho Electricals Ware House, Attachment orders have been issued by the Tehsildar Recovery, sources informed.
Immediately after taking over the charge, the newly appointed Board of Administrators, headed by Additional Deputy Commissi-oner Jammu, Arun Kumar Manhas (Administrator) issued directions to the Bank Managers and the supervisory staff to launch a special drive for recoveries besides setting a target to lower the NPAs from Rs 48 crores to Rs 25 crores by March 31, 2017.
Besides constituting special teams for recoveries, sources said that the bank is taking assistance of local police in the drive for which SSP Jammu has already been requested to direct all the Police Stations for extending all possible help and security to the recovery teams.
Pertinent to mention that vide order, number 06 RCS/ B&F of 2016, dated 02-12-2016, Registrar Cooperative Societies, J&K, Jammu, in pursuance of the State High Court order dated 24-10-2016, had appointed a Board of Administrators to manage the affairs of the Bank and to cause the elections to be held to the Board of Directors of the Bank, in accordance with the provisions of the J&K Co-operative Societies Act 1989, Rules and By-laws of the said CCBL.
The Board of Administrators, comprised of Arun Kumar Manhas, Additional Deputy Commissioner Jammu (Administrator), Gh Mohi-ud-Din Kolay, Assistant Registrar, Registrar Cooperative Societies, J&K (Member), Managing Director, CCBL and a representative of the Regional Director, Reserve Bank of India, Jammu.
The Board of Directors, constituted following elections in September 2012, was to hold the office for a period of three years, as provided under Section 29(2) of the J&K Cooperative Societies Act 1989, i.e. upto September 2015. Upon completion of the term, the Registrar had earlier also appointed an Administrator to manage affairs of the bank but the said order was assailed through the medium of a Writ Petition before the court through outgoing Chairman of the Board of Directors, Dinesh Gupta and another. However, by its order, dated 24-10-2016, the High Court finally disposed of this writ petition and commanded the Registrar Cooperative Societies to hold the elections.
Meanwhile, the Board of Administrators has also geared up for updation of the electoral rolls of the bank and notices are being issued to the nominees of the expired members to get the names deleted while the defaulters are being asked to clear the cases for eligibility to vote.
According to Ashok Goswami, Managing Director CCBL, the pro-active exercise is aimed to ensure transparent elections for the new Board of Directors, which would be conducted after issuance of a notification in this regard by the Registrar Cooperative Societies, J&K,
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