Aurangabad, Sept 24: In a significant order, Mumbai High Court has ordered attachment of movable and immovable properties of all the suspended directors of Jalgaon district Cooperative Bank, including Maharashtra Minister for Food and Civil Supplies Suresh Jain. The order was delivered yesterday by Justice B H Marlapalle and Justice A S Bagga on a PIL alleging precarious financial position of the Cooperative Banks in Maharashtra. The court had earlier converted a series of reports on alleged malpractices in Aurangabad District Central Cooperative Bank into a PIL and ordered the Commissioner of Cooperatives based in Pune to submit a report on the functioning of all the cooperative banks. Considering the report of the commissioner, the court directed Jalgaon district collector to attach movable and immovable properties of suspended directors of Jalgaon district cooperative bank and ordered that the ongoing inquiry against them under Maharashtra cooperative societies act be completed within three months. The commissioner of cooperatives had earlier superceded the board of Jalgaon District Cooperative Bank and appointed an administrator to control the affairs. However, he could not take charge as the move was challenged by the directors.
Reacting to the court ruling, Jain told a news agency in Mumbai that he had just received the copy of the judgement and planned to move the Supreme Court after seeking legal opinion.

Meanwhile, BJP spokesman Prakash Jawdekar, at a press conference in Solapur, welcomed the High Court order and said "those guilty of cheating investors and bringing banks to bankruptcy must be punished".
Bureau Report