Centre's stand on Amanath Co-op Bank merger sought

The High Court, on Thursday directed the Centre to file an affidavit regarding its stance to merge Amanath Cooperative Bank with Canara Bank.

Hearing a petition by former Union Minister C K Jaffer Sharieff, seeking a CBI inquiry into alleged irregularities in Amanath Cooperative Bank and another petition by Association of Amananth Cooperative Bank Members president Mohammed Wazir Baig seeking merger with Canara Bank, Justice S Abdul Nazeer directed the Union Government to make its stance clear within 10 days.

The counsel for Union Government sought more time as the the poll code of conduct was in force and submitted that Ministry of Finance needed more time to take a decision.

Justice Nazeer observed that if the matter is pending before the court and if the court asks information, model code of conduct does not apply and directed the Centre to file detailed affidavit in 10 days.

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