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This story is from May 6, 2008
Samata scam accused get 10-day reprieve
The Nagpur bench of Bombay high court on Monday granted 10-day period to all six accused directors in the Rs 147-crore Samata Bank scam - including Dinkar Chimurkar.
The other office-bearers who have moved application of the anticipatory bail include - Ashok Narkhede, Anant Brahme, special recovery officer Keshav Kamble, Sunil Balbudhe and Sanjay Deshpande.
During last hearing, the court while granting bail pleas to other 10 persons who were said to be involved in the scam, rejected anticipatory bail pleas of above six accused.
Those who secured bail were - Dr S Pinjarkar, Arvind Bondre, Prabhakar Samarth, Ms Tirpude, accounts officer Rohini Kulkarni, Amit Karia, Aparna Desai, M S Balbude, Eknath Wavre and Mukherjee.
The trouble started in 2003 when the bank incurred huge losses. The bank was running well and in profits till 2003. In same year Chimurkar was promoted as president of the bank and it plunged into losses.
The situation worsened further resulting in imposition of restrictions by the RBI which also put another restriction on new deposits in May last year. The RBI also appointed an inquiry officer to probe the scam.
The officer submitted a report on November 2 this year resulting in notice by authorised officer of Sa mata Bank and divisional joint registrar of cooperative societies in Amravati to the petitioners holding them responsible for the losses.
Owing to Samata Bank's deteriorating financial condition, the RBI had clamped restrictions on withdrawals from it two years ago.
As a result no depositor was allowed to withdraw more than Rs 1,000 from his or her account. This has put around 60,000 depositors of the bank in a lurch.
Masood Sharif was the counsel for the petitioners.
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