Court orders inquiry into Co-op Bank

VADODARA: Justice KC Surti of the sessions court has ordered an inquiry under section 202 of the Criminal Procedure Court into misappropriation of funds by officials of the Baroda People’s Co-operative Bank after filing of a petition, naming 24 persons as accused.
The petition filed by Bankers and Depositors Association president and advocate Ashwin Acharya stated that members of the board of directors and other officials of the bank surreptitiously siphoned off funds.
The accused named in the petition include bank chairman Suresh Bhogilal Patel, Harman Moti Patel, Satyendra Nagarseth, Chiman Patel, Magan Patel, Vinu Patel, Ganpatlal Jagdhaniya, Ishwar Patel, Arvind Patel, Tribhovan Mistry, Suresh Patel, Dhiru Patel, Jash Patel, Ghanshyam Patel, Kirit Amin, Vikas Kaka, Kanti Hira Patel, Ravish Patel and Shantilal Patel—all members of the board of directors.