HYDERABAD: The Telangana High Court has admitted a contempt petition against the board of directors of AP Mahesh Co-operative Urban Bank filed by Shareholders Welfare Association of the said bank. The petition has been filed against Ramesh Kumar Bung, the bank’s chairman, Purshotamdas Mandhana, vice-chairman and Umesh Chand Asawa, MD and CEO, and eight other directors of the bank.
On behalf of the petitioners, Supreme Court senior counsel Dil Jit Singh Ahluwalia informed the count that the board members willfully disobeyed the interim order dated January 8, 2021, directing the board not to take any policy decisions or carry out any dealings with the bank’s funds.
Justice P Naveen Rao observed that prima facie, contempt had been shown, and directed the condemners to be present before the court on November 26.