GUWAHATI: The Gauhati High Court directed the Chief Executive Director of the ASCARD Bank to personally appear before the court and also apprise the court of how the bank is proposing to make the payment of arrears of salary and pension benefits to the employees, including the petitioners.
The grievances of the petitioners are that they are or were employees of ASCARD Bank, a bank constituted under the Assam Co-operative Land Mortgage Bank Act, 1960; however, their salary and pension benefits have been withheld.
The single-judge bench of Justice Arun Dev Choudhury directed that the Chief Executive Director of the Bank should appear on February 15, 2024, and apprise the court regarding the implementation of this court’s order dated December 21, 2022.
In its order dated December 21, 2022, the court directed the Chief Executive Director of the Bank to do as much as is permissible under law for recovery of the defaulted amount by the loanee, inasmuch as it is one of the reasons that due to the default of the loan payment, the bank has been facing a financial crisis. However, it was noted that none appeared for the respondent bank today to apprise this court of the development pursuant to the said order.
It was also noted by the court, from the materials and affidavit filed, that the Finance Department has taken a stand that even the State Government is willing to make a plan for the revival of the bank, subject to an acceptable and feasible proposal for the revival of the bank being made by the Co-operation Department to the Finance Department. However, such a proposal has not yet been submitted by the Co-operation department, as stated.
Therefore, the court asked the standing counsel for Co-operation department to apprise this court whether the Cooperation department is still willing to initiate a proposal for the revival of the bank and, if so, by what time they will send the proposal to the Finance Department as reflected in the affidavit of the department.
The matter was further listed for part hearing on February 15, 2024.