Imphal, November 03: Insisting that four out of five individuals had been declining to reciprocate positively to its intimation, the proscribed UNLF has set a deadline of two days to surrender and explain their respective positions failing which stringent action would be initiated against the four.

Informing that five employees of Imphal urban Cooperative Bank (IUCB) were asked to meet UNLF representatives for deliberation on alleged discrepancy and misuse of power by executive members of the bank's board of Administrators (BOA), investigating officer 2nd Lt Chenglei of the UNLF's CSF unit told newspersons somewhere in Thoubal district today that one among the five accused had confessed to committing mistake.

Sharing further input into the UNLF probe, Chenglei said on July 24 this year the five submitted a letter to the Cooperative Minister in connection with the BOA formation wherein the armed organisation's name was unnecessary dragged in.

Opining that the five's act was a deliberate attempt to malign image of the UNLF, the investigating officer reiterating that one of the five had confessed to being ignorant of the letter's content but nevertheless embossed his signature without going through the details also maintained that defiance by the four others is an affront to the organisation.

The four asked to surrender in two days' time have been named as Irungbam Chandrasekhar of Thangmeiband Lairenhanjaba Leikai, Telem Olen of Wangkhei Ningthem Pukhri Mapal, Ng Surodhoni Devi of singjamei Thongam Leikai and Maibam Ratan of Kwakeithel.

The first three are said to have been directors in the bank's Board of Directors (BOD) which was dissolved for mismanagement.

moreover, consequent upon the July 24 letter, the Minister stamped his approval for the BOA on September 26, 2007 with the five accused also accommodated as BOA members.

Contending that Chandrasekhar, Olen, Surodhoni and one K Kaminikumar of Uripok Khoisnam Leikai served as directors of the dissolved BOD, the UNLF functionary barred the four from being members in either the BOA or BOD.

he also alleged that the dissolved 9-member BOD under the presidentship of Kh Gourakishore in between June 23, 2004 and June 12, 2006 violated not only the bank' s Act and Rules but overlooked guidelines of the RBI.

Enlisting procedural negligence, misuse of power/influence and partiality by the BOD, he contended that family members and relatives of the BOD executives were favoured during loan provision.

This was done inspite of the RBI directives prohibiting further loan provision to kith and kins of the BOD members until loan dues are cleared.

Questionable power exercised by the BOD president Gourakishore in the sanction of loan amount not complimentary to recommended ceiling of the Imphal Urban Cooperative Bank, issuance of meeting notification by the BOD president himself rather than the prescription the same should be circulated by the Bank's CEO/GM, misuse of about Rs 45,251 from the bank's exchequer despite the amount utilised for personal purpose of the BOD president, expending excessive amount of Rs 70,000 for Representative General Body Meeting, procurement of two ATM machines amounting to Rs 15.18 lakhs against standing RBI norms, fresh recruitments and pending litigation in a Court are among numerous allegations of malpractice levelled by the UNLF.

Comment