Kolhapur Co-op bank put on notice

The state government has issued notices to 15 members on the board of directors of Kolhapur District Cooperative Bank, after fixing the responsibility of Rs147 crore which were disbursed as loans without mortgage, and flouting other conditions.

The minister for cooperation, Chandrakant Patil informed media persons that after the inquiry, his department issued the notices. He informed that the notices have a stipulated deadline of 15 days for payment of the amounts mentioned against each of the members, which is due from them.

In case they fail to pay the same, their properties would be seized. Former Kolhapur MP, Sadashiv Mandlik did not respond to phone calls, but officials at his office informed that they had not yet received any such notice.