Refund of Share held by us in Co-Op. Bank Ltd

[SURYAKANT MITHBAVKAR]

we have shareholder in Co-Op Bank since last more than 10 years. We apply refund of shares on one and half year back but till date bank has not refund the shares stating that RBI financial parameters they are unable to process the request also they state that they will think of refunding the share capital once there is improvement in the benchmark parameters.

We require that fund on urgent basis can u suggest that how to face the above situation and recover our share capital from Bank.

[DR.MARIAPPAN GOVINDARAJAN]

The Coop Banks are awaiting some regulatory directive on share surrender as it’s not feasible for a lender to ask RBI’s permission every time a member requests for a refund.

AI Summary

Refund of cooperative bank share capital blocked where bank cites regulatory capital benchmarks and pending regulatory directive. Shareholder applied for refund of share capital but the cooperative bank refuses, citing inability to process refunds due to regulatory capital benchmarks and will consider refunding once those benchmarks improve; banks are reportedly awaiting a regulatory directive on procedures for share surrender, making routine refunds contingent on improved financial parameters or supervisory guidance.