Shivamogga DCC bank board suspended

Additional Registrar of Co-operative Societies Karibasappa has issued an order suspending the administrative board of District Central Co-operative Bank (DCC).

Following this, Deputy Commissioner V P Ikkeri took charge as administrative officer of DCC bank on Saturday. With this, for the second time, the board has been suspended. The State government had kept the administrative board of the bank in abeyance as the Criminal Investigation Department was investigating financial irregularities at the Shivamogga city branch of the bank in August this year.

The then president of DCC Bank Manjunath Gowda and other staffers were arrested in connection with this case. The then deputy commissioner of Shivamogga Vipul Bansal had taken charge as administrative officer of the bank.

The board members had questioned the suspension order in the High Court of Karnataka. The court had stayed the order and directed the co-operation department to take a final decision in this regard.
DH News Service