IUCB discusses
Source: The Sangai Express
Imphal, March 07 2019:
A shareholder meeting to discuss the failure to elect the Board of Directors for Imphal Urban Cooperative Bank (IUCB) Ltd, was held today.
The IUCB Ltd Shareholders High Power meeting, which was convened at Khoyathong Pukhri Achouba Mapal community hall, resolved to ban any major decision related with administrative or staff matters, from being taken before the approval of a Board of Directors, as well as to ban any form of implementation if indeed such a decision was made.
If the resolutions are not adhered to, it will amount to disrespecting the order of the Court as well as disrespecting the bank's bye-laws.
Speaking to media persons after the meeting, one of the shareholders identified as Maibam Sunil said that IUCB has been operating without any BoDs since the last 4 to 5 years as no members of the BoD were appointed.