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

Shareholder Struggles to Recover Share Capital from Cooperative Bank Due to RBI Financial Parameters and Regulatory Delays A shareholder in a cooperative bank, who has held shares for over ten years, applied for a refund of their shares 18 months ago. The bank has not processed the refund, citing RBI financial parameters and indicating that they will consider refunds once these benchmarks improve. The shareholder urgently needs the funds and seeks advice on how to recover the share capital. A response suggests that cooperative banks are waiting for regulatory directives on share surrender, as it is impractical to seek RBI permission for each refund request.