
- It does not comply with the provisions of the Banking Regulation Act, 1949.
- Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has been asked to issue an order for winding up the bank and appoint a liquidator for the bank.
- Every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from DICGC.
- More than 99 percent of the depositors are entitled to receive the total amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC).