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Pune: Cosmos Bank to move court against district collector

The land on which the corporate office of the bank is located, officials said, was transferred without proper following proper procedure.

By: Express News Service | Pune |
September 27, 2016 4:04:27 am

The Cosmos Cooperative Bank has decided to seek legal recourse against the district collector’s notice asking it to pay government dues worth Rs 58 crore for its alleged irregularities in land transfers. In a press release issued late on Monday evening, the bank has strongly denied any wrong doing.

District Collectorate officers said that a notice was sent to the Bank as it allegedly had not taken proper permissions before entering into a deal regarding the land parcel of S No 132 (B/6) land at Shivajinagar. The land on which the corporate office of the bank is located, officials said, was transferred without proper following proper procedure.

The bank has denied all such allegations. The bank has maintained that all legal procedures were followed in the land transfers and it has decided to move higher courts to contest the notice.

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