STATE DISSOLVES NASHIK DIST CENTRAL COOP BANK

The state government has dissolved the Nashik District Central Cooperative Bank due to various charges against its board of directors. Joint Registrar Milind Bhalerao took up charge as administrator on Saturday, official sources said on Saturday. Similarly, a notice has also been sent to Nashik Agriculture Produce Market Committee (APMC).

The board of directors of NDCC Bank have been charged with misappropriation in CCTV purchase, illegal recruitment of staff and security personnel. Earlier the Cooperatives department had begun an inquiry in the ban's functioning and sent notices to the directors.

The directors have been charged with illegal recruitment of 300 staff and peons. The Cooperatives Department had completed the inquiry and sent the report to the Government recommending dissolution of the bank.

In a similar development, the Cooperatives Registrar office has sent a notice to Nashik APMC under Sec 45 of the Market Committees Act.

District Deputy Registrar (DDR) of Cooperative societies Nilkant Kare confirmed on Saturday, that he had sent the notice.

Earlier in 2016, former chairman of Nashik APMC and Ex MP Devidas Pingle had been charged with misappropriation of funds and other irregularities including siphoning off the Dearness Allowance amounts of the employees. He was arrested by the ACB in 2016 after the officials caught 3 persons while taking cash Rs 57,73,800 to Pingle’s house. They had withdrawn the amount after allegedly forcing employees to sign self-bearer cheques.