ROC asks Delhi State Co-op Bank to fire boss
NEW DELHI – The Office of the Registrar of Cooperatives [ ROC ] of Delhi has asked the Managing Committee of the Delhi State Cooperative Bank to remove Anita Rawat from the post of Managing Director of the state co-op bank, reports Indian Cooperative.
The letter signed by Assistant Registrar [Banking] Surinder Narang, and addressed to the Managing Committee of the Bank questions Rawat’s promotion, adds Indian Cooperative.
The online publication quotes the letter as saying, “The appointment of Ms. Anita Rawat to the post of Managing Director through promotion is absolutely illegal and void as no prior consultation has been made with the Government before her appointment.”
It is said the bank has grossly violated the provisions of Rule 58 of the Delhi Cooperative Societies Rules 2007, says the letter adding, “You are hereby directed to immediately remove Ms. Anita Rawat from the post of Managing Director and handover the charge of Managing Director to the senior most Functional Director of the Bank.”
“Further, you are also directed to formulate Recruitment Rules for the post of Managing Director in consonance with the provisions of Rule 58 of Delhi Cooperative Societies Rules 2007”, reads the letter quoted by Indian Cooperative, adding this issue with the approval of the Registrar Cooperative Societies.
The RoC office asks the Bank to comply with the order saying “This office has not received your compliance report regarding removal of Anita Rawat from the post of Managing Director.”
Last year, Union Cooperation Minister Amit Shah bestowed awards on banks, which have completed more than 100 years of their existence and the Delhi State Cooperative Bank was one among them.
It bears recall that high profile co-operator Bijender Singh is the chairman of the Delhi State Co-operative Bank.
Despite orders against the MD, the fact remains that the bank has been performing excellently in recent years on all the financial parameters, said a knowledgeable source.
Source: Indian Cooperative
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