Name and Address of sender:-

Karwa Shankarlal Onkardas PAN ESPNPK4262D

Address- Kharakuwa,Near Gujarathi High School

Aurangabad ,431005
Mob – 77559 78709
Email - deepakkarwa4@gmail.com

Ref No.KSO/MUCB/RBI/04/2023 Date 07.04.2023

To,
1. The Prime Minister of India, New Delhi
(Email – connect@mygov.nic.in)

2. The Finance Minister of India, New Delhi

(Email - 1.appointment.fm@gov.in
2.fmo@nic.in
3.secy-dea@nic.in
4.prateeks.98@nic.in
5.arup.shyam@nic.in
6.mishra.saurabh@nic.in )

3. The Finance Secretary (Banking)

(Email – secy-fd@nic.in )

4. The Minister of Co-operatives, New Delhi

(Email – 1.minister-coop@gov.in
2.sachin.sinha@nic.in
3.pstohm-cm@gov.in
4.osdtohm-cm@gov.in
5.mosofficecoop@gov.in
6.secy-coop@gov.in

1
7.as-coopn@gov.in
8.asfa-agri@gov.in
9.c.chatterjee85@nic.in
10.rajiv.saraswat@nic.in
11.jsed-cooperation@gov.in
12.sandeepk.singh@ias.nic.in
13.shekhar.bose@gov.in )
5. The State Finance Minister of India, New Delhi
(Email – 1.bhagawat.karad@sansad.nic.in
2.ashishad.g081001@gov.in
3.revas.mof@gov.in )

6. The Governor of Reserve Bank of India,

Mint Road, Mumbai 400032
(Email – governor@rbi.org.in)

7. The Minister for Co-operatives, Maharashtra

Mantralay Mumbai 400032
( Email – 1.sakharam.kharat@nic.in
2.vishal.madane@nic.in
3.prashant.nikam84@nic.in )

8. The Deputy Governor, Dept. Supervision,RBI,

19th Floor,Central Office Building
Shahid Bhagat Singh Road ,Mumbai-400001
(Email - dgmkj@rbi.org.in)

9. The Deputy Governor, DICGC,RBI,

19th Floor,Central Office Building
Shahid Bhagat Singh Road,Mumbai-400001
(Email - dgmdp@rbi.org.in)

10. The Dy Governor, Dept. of Regulation RBI,

2
19th Floor,Central Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - dgmrr@rbi.org.in)

11. The Executive Director, (Supervision)RBI,

17th Floor,Central Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - edscm@rbi.org.in)

12 The Executive Director, (Regulation)RBI

17th Floor,Central Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - edss@rbi.org.in)

13. The Executive Director, (Supervision – Risk,

Analysis and vulnerability assessment) RBI,
17th Floor,Central Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - edrj@rbi.org.in)

14. The Executive Director, (Inspection)RBI,

1st Floor,Mumbai Regional Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - edakc@rbi.org.in)

15. The Executive Director, (DICGC)RBI,

1st Floor,Mumbai Regional Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - eddk@rbi.org.in)

16.The Chief Gen Manager(Regulation)RBI,

12th Floor,Central Office Building
Shahid Bhagat Singh Road Mumbai-400001
(Email - cgmicdor@rbi.org.in)
3
17. Chief Gen. Manager (Supervision)RBI,
Center I, World Trade center, Mumbai 400005
(Email - cgmicdosco@rbi.org.in)

18. The Chief Gen. Manager (Fin. Stability Unit)RBI,

3rd Floor Amar ,Sir P.M Road, Mumbai 400001
(Email - fsu@rbi.org.in)

19. The Principal Legal Advisor (Legal)RBI,

5 th Floor ,Center ,World Trade center,Mumbai 400005
(Email - helplegal@rbi.org.in)

20. The Principal Gen. Manager(Inspection)RBI,

C-7,Bandra Kurla Complex, Bandra, Mumbai 400051
(Email - cgminspco@rbi.org.in)

21. The Commissioner of Cooperatives

2nd floor, New Central building, Pune 411001
( Email - commcoop@rediffmail.com)

22. The Gen. Manager, Reserve Bank of India,

HO Mumbai 400032
(Email – rdmumbai@rbi.org.in)
23. The General Manager, Dept. of Supervision
Nagpur-RO, Reserve Bank of India, Nagpur - 440001
(Email – 1.rdnagpur@rbi.org.in
2.rbisonagpur@rbi.org.in
3.dosnagpur@rbi.org.in

Subject :- RBI to order to release 35% amount of account

holders / FD Holders , held at the Malkapur Urban
Co-op Bank Ltd(under restriction U/s 35A read
with U/s 56 of Banking regulation act 1949 - since
Nov 2022), from recovered amount on prorata
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 basis , The Malkapur Urban Co-op Bank should
be ordered to make changes of renewal of FD
(since Dec 2022) with ROI of any PSU bank and
not arbitrary 3.99%.so also RBI to direct /summon
all directors of the Malkapur Urban Co-op Bank, to
be at Place to recover dues amicably and or
auction lien assets all defaulter, direct
management of the Malkapur Urban Co-op Bank
to submit execution report of road map of revival
, so also to report online on daily basis of recovery
to RBI signed by all directors , till its satisfaction.

Representation No.2 by :-

Reference : - Proposal placed to RBI Mumbai and Nagpur

by the CEO the Malkapur Urban Co-op Bank Ltd
vide No. Ho 2022-23/ 948 dated 14 Feb 2023 with
board resolution No. _____.

Respected Sir,

I Karwa Shankarlal Onkardas(1st holder) PAN No.

ESPNPK4262D UID No.5273 5534 6296 , are resident of
Chatrapati Sambhajinagar (Aurangabad) Maharashtra Pin.
431005, Mobile No. 77559 78709 Email
deepakkarwa4@gmail.com a sb / account holder No.
000710010004826 and FD holder vide No 607759 from
Branch of the Malkapur Urban Co-op Bank Ltd which is
under restrictions since 24.11.2021 as U/s 35 A read with
Sec 56 of RBI act 1939 with is amendments ,

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 That above mentioned holding is as enumerated for your
perusal as per following details

Sr. Account / 1st Holder 2nd 3rd Principle

No FD No. / Holder Holder Amount
CIF
Details
1 4826 Karwa 78,602/-
Shankarlal
Onkardas
78,602/-
TOTA
L

This is to state that ,

(i) That, The Malkapur Urban Co-op Bank Ltd has

been established in 1962 as per banking regulations 1949,
and Mah. Co operative societies act 1973 having HO at
Malkapur - Dist Buldhana, and established its RO in 1992
at Aurangabad .

(ii) That , with amendment on 29 the June

2020 RBI a regulatory authority has been introduced as
an additional super Regulatory authority of Urban Co-
operative Banks in India / Maharashtra apart from
Department of Co-operatives.

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(iii) That , The Malkapur Urban Co-op Bank Ltd
Bank being headed by RSS-BJP cadre people, But in
2018-2019 the erstwhile Chairman Rahul Chainsukh
Sancheti and his team of bank directors and then Chief
Executive officer Shri Dipak Saoji (who is absconding /
abducted since April 2019) has taken over exposure by
disbursement of loans to people without creating proper
lien / security - assets in custody of the Malkapur Urban
Co-op Bank from borrowers , neither board of directors
nor recovery officers followed process as laid out per
SARFEASSI act or DRT regulations for reasons best
known to them .which resulted in NPA to huge extend at
the Malkapur Urban Co-op Bank Ltd .

(iv) That year 2020 and 2021 saw Corona

pandemic in Maharashtra in that period and thereafter
post Corona; recovery of loan amount and its interest
component from borrower had become tedious for Bank
management and banking officers of the Malkapur Urban
Cooperative Bank , as earlier suspicious loan approval
and disbursement activities of erstwhile CEO Dipak Saoji
as well as later Chairman Chainsukh Madanlal Sancheti
,who had earlier lost MLA election in 2019 from Malkapur
constituency on symbol of BJP.

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(v) That,Chairman Chainsukh Madanlal Sancheti
( 9422182199 cmsancheti1@gmail.com) , and his team
of directors lead by vice chairman Purushttom Gopal
Lakhani (9422180660 email mucbho@gmail.com), Rahul
Cheinsukh Sancheti (7021446695) , Ashok Rajdev, Sunil
Champalal Sancheti, Rajendra Nathmal Kochar,
(9422180872) Abhay Madhukar Borle ( 9422883683) ,
Tayade , Damodar Sharma, Subham Manak Jain, Anagha
Anil Gurjar, Kanchan Ravikabt Palve, Kanchan Suresh
Mandwekar, Shobhadevi Ashok Aggarwal, Devendra
Rupchnad Jain (9423779017), Abhijar Husaain Zakir
Hussain , Rajendra Oza ( 9422706157) all of them
severally and jointly mishandled the banking to own
benefit and has led worsened stage within the Malkapur
Urban Co-op Bank Ltd with their own tantrums, Being
adamant was the chairman , Vice chairman & board of
directors , had disbursed loans on exorbitant valuation
and non competent recovery officers ( Gavale
9422207011, Rajendra Jadhav 9422706154, Sanjay
Aggarwal 9422706158 Phirke 9423149137 ) were non
collecting arrears in loan amount , and nominally doing
their duties only for few hours , but all were busy in their
own business and trading.
(vi) That, Moderate restriction was imposed by RBI
date 04 June 2020 on the Malkapur Urban Co operative
bank. Had RBI published such news of imposition of
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 restrictions media, FD depositors / SB and current
account holders have an opportunity to question
management of the Malkapur UCB that would have given
ample amount of time to lead to authorities to diminish
illicit nexus of board of directors, top banking officers of
the Malkapur Urban coop bank with defaulter borrowers.

(vii) That , recovery officers of the Malkapur Urban

Co-op Bank Ltd , who have had neither exposure to
recovery ,as per SARFEASI Act nor have had acumen to
defend DRT procedures , being having lazy attitude
towards recovery from Defaulter borrowers, resulted in
NPA of 44% in March 2021 , and 53.25% in Sept 2021
at the Malkapur UC Bank (same was mentioned by
RBI in its communication)

(viii) That , because of mismanagement of

board of directors, banking and recovery officers of the
Malkapur Urban Co-op Bank Ltd , Net worth the Malkapur
Urban Co-op Bank Ltd, detonated from (+)71.60 Crore of
March 2019 to (-) 37.11 Crore in March 2021 and Capital
to Risks (weighted) assets ratio CRAR to (-) 5.42 Crore.
in March 2021.Even Statuary Cash Reserve ratio (SCRR)
and Statuary Liquidity Ratio(SLR) was also poor for AY
2021-2022

9
(ix) That , Even Department of Co-operatives i.e.
Commissioner of cooperative , Pune , AR and DDR of
both Buldhana and Aurangabad shunted its vigilant eyes,
in 2020-2021 on said the Malkapur Urban Co-op Bank
Ltd , as it was to recover loan Rs.1023 Crores disbursed
on strength of Rs.673 Crore of other depositors/
account holders . May be both directors Management
with banking and recovery officers, and panel of Valuers
of the Malkapur Urban Co-op Bank were hands in gloves
of borrowers, which resulted in default in repayment to the
Malkapur Urban Co-op Bank.

(x) That, RBI by its 2nd warning communication cum levy

of fine Rs.2 lacs to the Malkapur Urban Cooperative Bank
in July 2021 for lending to family relatives and close
friends of bank management and senior officers ( Name
of borrowers Runwal, Tiger Developers , Nahar Lodha
,Sancheti,, Kotecha, Gadiya , Kothari,Sitaram Aggarwal,
Ajay Jain, Kankariya Khinvsara, lakhani , Jawandha
Abhishek Jaiswal, brother of MLA Geeta Jain, etc. ) .RBI
had warned in October 2021 to Board of Directors,
management of the Malkapur Urban Cooperative Bank
alongwith quick full recovery of disbursed loan from above
borrowers, but seems that Board of Directors and banking
officers were playing feudal alongwith crooked borrowers

10
 when things had fire at home turf and have worsened at
the Malkapur Urban Co-op Bank.

(xi) That ,RBI vide order dated 24.11.2021 of imposed

restrictions U/s 36A read with U/s 56 of RBI act on the
Malkapur Urban Co-op Bank Ltd , to refrain from carrying
any for banking till further instructions .

(xii) That , despite having restrictions U/s35(A) and 56

since 24.11.2021 the Malkapur Urban cooperative bank
Ltd. has disbursed / or refunded Rs.4.422 Cr to its one
of depositor (Babasaheb Naik Kapus Utpadak Sutgirni
Dist Yeotmal / to its creditor NCDC New Delhi), in period
between July 2022 to Sept 2022.
(xiii) That, even only few partial claims were disbursed
by DICGC, as PAN No. of the claimants were not updated
by the Malkapur Urban Co-op Bank Ltd to DICGC / or to
its auditor. Resulting around Claims of 7.99 Crores are
pending either with DICGC / the Malkapur UCB. Only
Rs.419 Crores were disbursed by DICGC with maximum
sum disbursed Rs.5 lacs per claim
(xiv) That , It was learnt that Central Minister of Finance
for State Dr Bhagwat Karad, has instructed the
management of the Malkapur Urban Co-op Bank Ltd ,in
presence of erstwhile DM, Aurangabad Shri.Sunil

11
 Chavhan (IAS) and present DM Shri Asteikkumar Pandey
(IAS)
(a) All directors of the Malkapur Urban Co-op Bank Ltd
should be stationed at Aurangabad RO, and should
visit each and every Defaulter Borrowers, for
recovery of dues even matter is subjuidies or
otherwise as per SARFESSI ACT or at DRT – As
outreach of the bank, to defaulter borrowers.
(b) The Malkapur Urban Co-op Bank Ltd to hire retired
banking officers from PSU bank/ private banks, or
from Coop banking federation or reputed CA to
recover dues from defaulter borrowers.
(c) The Malkapur Urban Co-op Bank Ltd should publish
list of Defaulter borrowers on flex at all branches and
in leading news papers and auction the lien
properties.
(d) The Malkapur Urban Co-op Bank Ltd, should offer
OTS scheme or adjusting FD of other depositors (who
either are relatives / have legal concern with
borrowers), by entering a tripartite agreement with
defaulter borrowers in accordance with sec.101.

(xv) That banking restrictions on the Malkapur Urban

cooperative bank Ltd. of RBI U/s 35A read with U/s
56 has been extended from 24.02.2023, presently
till 24.05.2023

(xvi) Till 31 st March y 2023 said the Malkapur Urban

Co-op Bank Ltd has balance deposits of Rs 651
Crores, that includes Rs.448 Crores with sb
account, current account and of deposits of

12
 individuals, HUF , AOP and BOI, and so also of
having deposit of Rs.203 Crores from Cooperative
Societies ( having Para banking / Pigmy / RD
facilities) and has to recover Rs.531 Crores from
defaulter borrowers ( most of them are located at
Ch .Sambhajinagar /( Aurangabad ), because of
RBI’s restriction U/s35A read with U/s 56 amount
of almost all needy individuals and cooperative
societies have come to stand still. It is learnt that
The Malkapur UCB has collected Rs.305 Crores as
on 31.03.2023

(xvii) That , because of Whimsical attitude of Chairman

Chainsukh Madanlal Sancheti, Vice Chairman
Purushottam Gopalchand Lakhani, and Deputy
Chairman Rahul Cheinsukh Sancheti who are neither
attending HO office the Malkapur Urban Co-op Bank
Ltd at Malkapur or RO located at Jawahar Colony
Samabhajinagar( Aurangabad).

(xviii) That , by communication No.948/2022-23 dated

14.02.2023 from the Malkapur Urban coop bank ltd
to RBI , submitted its 2nd intent and sought permission
from RBI to disburse amount of around Rs.215
Crores on prorata basis to sb / current / FD holders
to the tune of 30% to save outgoing accrued interest
on it . Said amount of Rs.215 Crores lying unutilized
so far collected / recovered NPA / loan amount and
interest on loan of Rs.305 Crores from defaulter
borrowers ( by keeping statuary provision of Rs.80
Crores for 2nd installment of DICGC repayment for AY
2024-2025 .

13
(xix) That it was also learnt that , CEO of MUCB has also
accepted its arbitrary unethical blatant violation
wrongdoing at MUCB of giving only 2.50 % interest
to sb account holders as against 4%interest being
offered by PSU banks , and giving 3.99 % interest to
FD renewals (since restrictions date)

(xx) That it was also learnt that , CEO of MUCB also

undertook at RBI to upgrade-amend PAN and UID
details of few claimants in its core data system from
list of DICGC , so that withheld claims for
disbursement upto Rs.5 lacs can be cleared by
DICGC at the earliest .

(xxi) That , The Malkapur Urban Co-op Bank Ltd has

collected Rs.201.32 Cr. from defaulter borrowers till
31 March 2023 ( with tentative profit (+) 54. 25Crores)
and had also voluntarily paid 1 st installment of Rs.80
Crores to DICGC as repayment, in February 2023
This is to mention that instead of repayment The
Malkapur Urban Co-op Bank Ltd could have asked
for moratorium from DICGC / RBI for 5 years to pay
back 1st installment .

(xxii) That , it was also learnt that Board of Directors /

management of the Malkapur Urban coop bank is
exploring merger / amalgamation of cooperative
banks as per sec 18 , as per cooperative acts .

14
 P R A Y E R

(A) To register plea cum representation of this /

several other representation/s in connection with
the Malkapur Urban Cooperative bank ltd. direct
the concerned to have look at it sympathetically
and order accordingly, so that Cooperative
banking survives.

(B) RBI To modify or tweak its order as per sec 34(A)

subsection (2) of RBI Act , and the Malkapur Urban
Bank Ltd (ceo@mucbbank.com) be directed to
disburse equivalent to 35% of amount lying as on
24.11.2021 in sb / current / FD scheme of every
account in alternate bank account
No.931000PU00010249 IFSC PUNB0931000 MICR
411024032 , with Punjab National Bank , address
PNB 20 SNEH PARK HOUSING SOCIETY NEW PAN CARD CLUB

ROAD DHANKUDE VASTI BANER PUNE MH PUNE 411045, As

said amount is disbursable to the Malkapur UCB
as being from recovered sum of Rs.215 Crores as
on 31.03.2003. (as similar did in July / Sept 2022 to
Basaheb Naik Kappus Utpaddak Sutgirni, Dist
Yeotmal)
(C) All Sb account holders as on 24.11.2021
should get ROI as per general banking norms of as

15
 per PSU-SBI sb account holder as 4% , and FD
holders as 7% instead of prevailing wrong
procedure of 2.5% and 3.99 % adopted by
Malkapur Urban Coop bank Ltd.( by reversing
entries wrongfully entered by management of the
Malkapur UCbank Ltd.)

(D) DICGC should disburse all balance claims

submitted through MUCB by directing the
management to correct back data from its core
banking or ask the claimant to provide papers
relying for the claim to be disbursed claim amount
in alternate bank account.

(E) RBI Should impose direction on Chairman

Cheinsukh Madanlal Sancheti, Vice Chairman
Purushttom GopalChand Lakahani ,Dy Chairman
Rahul Cheinsukh Sancheti and other directors
to be stationed at Sambhajinagar (Aurangabad) to
make recovery of NPA amount and regular loan
amount , interest too either by OTS or otherwise ,
should either auction lien property or be sold as
private treaty

(F) RBI Should impose direction on Chairman

Cheinsukh Madanlal Sancheti, Vice Chairman

16
 Purushttom GopalChand Lakahani ,Dy Chairman
Rahul Cheinsukh Sancheti to infuse Rs.10 Cr each
as infused capita, and other directors Rs.2 Cr each
and all Sr Officers Rs. 10 lacs each , and other staff
members Rs. 2.5 Lacs each as infused capita , and
each defaulter borrowers Rs.10 lacs as infused
capital , and after receipt of 35 % of deposits to the
depositor should subscribe share of 2.5% of that
received amount to be infused as CRAR by each
1st PAN holder from depositor side as share capital
to increase CRAR to reach to positive of the
Malkapur Urban Co Op bank. Al such infused
amount of the above all can be withdraw able after
3 years from 24.05.2023(as done in case shares of
yes bank )

(G) Both RBI and Department of Cooperatives should

include 6 directors from depositors and 3 from
regular paying borrowers on ‘the think tank ‘ with
designation as joint managing chairman e to
control and regulate day to day working of the
Malkapur Urban cooperative bank.

(H) Both PMO, Finance ministry, RBI ,and

department of cooperatives should find a midway
of merger as per sec.18 of Cooperatives banking

17
 act and suitable act as per RBI act with
amendments of disgruntled the Malkapur Urban
Bank with any strong Co-operative Bank like the
Cosmos bank, The Saraswat bank , The Janata
Sahakari bank, The Deogiri Nagari Sahakari bank
etc.

(G) Any suitable order in favor of the sb / current / FD

holder / share holder of the Malkapur Urban
cooperative bank be issued in terms of Justice , and
oblige

Name and address of representative:-

Karwa Shankarlal Onkardas(1st holder)

PAN No. ESPNPK4262D UID No. 5273 5534 6296,

Name and Address of sender:-

Karwa Shankarlal Onkardas PAN ESPNPK4262D

Address- Kharakuwa,Near Gujarathi High School

Aurangabad ,431005
Mob – 77559 78709
Email - deepakkarwa4@gmail.com

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