The recent no-confidence motion brought against the bank chairman Ulhas Faldesai by the faction led by Sanjay Desai has ended in a tie.
Meanwhile, Faldesai has said since he is not defeated he will continue to be at the helm. A serious crisis is bearing down on the apex bank in Goa, say sources.
Earlier the High Court had directed that a meeting be held to resolve the crisis. Incidentally, Mr. Faldesai enjoys the support of former chairman Ramchandra Mule.