Goa State Co-op Bank to be governed by an administrative panel

The Goa State Cooperative Bank (GSCB) will continue to be governed by an administrator for another year as the registrar of co-operative societies has given an extension to the term of the three-member administrative committee up to September 24, 2019. Registrar of co-operative societies recently granted the committee of administrators of the bank ex-post facto extension for a further one year effective from September 24, 2018, till September 25, 2019. The order signed by registrar Sanjiv M Gadkar stated that the administrative committee must make arrangements to constitute a new board of directors within its term of one year. The registrar has also replaced a member of the three-member committee due to resignation submitted by him. Mohandas V Ramdas has been replaced by Vishnu Narhari Gad from Khandola-Marcel with immediate effect.

During the annual general meeting of GSCB, there were objections made about the bank being under control of administrators and it was resolved that members should go in for elections, although the government had earlier given the administrative committee a six-month extension until March 2019.

The latest order by the state registrar has further extended the term of the committee up to September 25, 2019. The administrative committee comprises of V B Prabhu Verlekar as chairman, and Shailesh Usgaonkar and Vishnu Narahari Gad as members

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