The newly appointed arbitrator Mr G G Saxena held the first hearing last week in the case pertaining to the Nafcub elections which saw the ouster of Mukund Abhyankar as the NAFCUB President and ascendance of Jyotindra Mehta as the new face of the apex body of urban cooperative banks in the country.
According to sources, the meeting was held in the office of Mr Saxena located in Nitibagh a posh area of south Delhi. The meeting lasted about two hours, sources added.
The arbitrator’s hearing has begun to assume an added importance in the light of the latest case where the Arbitrator quashed the election of NCUI President Dr Chandra Pal Singh Yadav.
Sources add Mr Mukund Abhayankar did not come to attend the meeting and a lawyer came on his behalf to represent his case. SMS sent by Indian Cooperative to Abhyankar went unanswered. It is believed, however that the Arbitrator asked the complainant to file his complaint in writing.
Saxena is a retired IAS officer whom in May 2016 Central Registrar Ashish Bhutani appointed as the arbitrator in the NAFCUB election case. The first day of hearing had been fixed for July 1st.
The Bombay High Court had earlier rejected the petition of the outgoing President of NAFCUB Mukund Abhyankar challenging his ouster through a motion of no-confidence. The court had asked the petitioner to first follow the route of arbitration mediated by the Central Registrar.
Abhyankar has challenged his ouster on the ground that no separate Board meeting was called to discuss the lack of confidence in the President. Rather, in a routine Board meeting the matter was taken up and passed in unseemly haste.
Parties to be heard are Cosmos Bank, Mukund Abhyankar, Returning officer and all the Directors of NAFCUB.
Next hearing is fixed after two weeks.
