While hearing a slew of petitions filed by customers and other stakeholders of the bank, the Karnataka High Court has passed this order. The latter has greatly relieved customers as they could now access their accounts without problems.
The Canara Bank will take over Amanath cooperative bank’s assets and liabilities within a fixed time frame. However, the merger will not cover such assets as are doubtful, say sources. The court has asked the customers to comply with KYC norms of the Canara Bank while accessing their accounts.
The next hearing will take place in November and the court is likely to consider former union minister C.K.Jafar Sharir’s plea urging a CBI enquiry into the bank’s irregularities.