NT NETWORK
PANAJI
The state government is working on a mechanism for carrying out special auditing of the local financial institutions in the co-operative sector.
Chief Minister Manohar Parrikar, speaking to the media on Wednesday, said that the special auditing would focus on the financial propriety of such financial institutions, for which teams of chartered accountants would be appointed. “They will undertake careful due diligence pertaining to full activities of these institutions, which is so much required to protect the money of the investors,” he added, pointing out that a strict exercise as regards ranking for these bodies would also be introduced, in keeping with the tradition of the neutrality of the government towards them, especially the co-operative banks.
Speaking further, the Chief Minister said that the general scenario in Goa about co-operative banks/ credit societies points out that such institutions in co-operative sector are not very comfortable. “Many such banks/ co-operative societies are either in red or moving around red, with many allegations levelled against them,” he said, assuring that the government is not interested in interfering in the activities of any co-operative bank, but would follow law strictly and will ensure that money of the people is protected.
“As long as I am in active politics, I will not indulge in co-operative sector, as it eventually leads to conflict of interests,” the Chief Minister stressed while noting that it was his conscious decision not to get linked to any co-operative body in the state.
Speaking further, the Chief Minister said that as far as the recent incidents in the Goa Urban Co-operative Bank Ltd are concerned, the government is absolutely within the legal limits. “We have followed the law in letter and spirit as far as these incidents are concerned,” he added, pointing out that the decision of the election officer to reschedule the election for the posts of the chairman and the vice-chairman of the particular bank was absolutely correct.
It may be recalled that the election for the posts of the chairman and the vice-chairman of the Goa Urban Co-operative Bank Ltd failed to take place, earlier this week due to the lack of quorum at the meeting called for the purpose, amidst loud protests from the directors of the Dr Anil Gaunekar-led panel, who were present.
Parrikar also said that the order of the High Court of Bombay at Goa, to restrain Sonia Kunkalienker and Prabhu Gaude – both appointed by the registrar of co-operative societies as directors of the bank – from voting in this election, is an interim order. “They are still directors and their appointment has not been quashed by the court,” he noted.