In a major relief to high-profile co-operator Ramesh Bung and others, the Supreme Court of India upheld the decision of Telangana High Court and dismissed the Special Leave Petition (Criminal) filed by AP Mahesh Urban Cooperative Bank Shareholders Welfare Association against the Chairman, Vice-Chairman and MD on Tuesday.
It bears recall that as soon as the election of the bank was over, the bank hogged the media attention on account of the election dispute leading the opposition to file a petition against the newly elected management of the bank in Telangana High Court. Failing in its bid, the association as an afterthought, filed a police complaint against the three.
The Supreme Court observed, “It is patently an election dispute which was sought to be converted into a criminal case. But unfortunately, the petitioner Association could not do it successfully in this case, as the election disputes came to the court first before the petitioner could fall back upon allegations of loan fraud. Fortunately, the High Court saw through the game.”
The apex Court further observed “The facts are so glaring and the background setting so shocking, that the High Court correctly found it to be a fit and proper case to grant interim relief to respondents i.e. Chairman, Vice-Chairman and MD”.
“Therefore, we are of the considered view that the High Court was perfectly justified in granting interim protection to the Respondents and in ensuring that the supremacy of the ballot is not sabotaged by the authority of the police. Hence SLPs are dismissed”, according to the information provided by the bank.
Several months back the AP Mahesh Cooperative Urban Bank Shareholders Welfare Association had filed two Criminal Complaints in IIIrd Additional Chief Metropolitan Magistrate against the Chairman, Vice Chairman and MD of the bank. The news was covered in the columns extensively.
Then the magistrate directed the police to register cases and take up investigation. Accordingly, Police registered two FIRS in Crime showing Chairman, Vice Chairman and MD as accused.
Afterwards, the Chairman, VC and MD had filed two Criminal petitions in the High Court seeking to quash the FIRs and pending disposal of Criminal petitions interim stay sought on police investigation including their arrest.
Giving relief to them, the Court passed a reasoned order in April and granted stay of all further proceedings in both the FIRs.
Due to the conflicts among the leaders of the management, no doubt, the bank’s image has taken a hit.