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SCDCC Bank Chairman may be sacked for misappropriation of funds: Cooperation Minister

Warning comes after M.N. Rajendra Kumar announces decision to contest Legislative Council polls as independent candidate, meets Congress leaders

Days after SCDCC Bank Chairman M.N. Rajendra Kumar declared his intent to contest as an independent candidate in the Legislative Council polls and met Karnataka Pradesh Congress Committee president D.K. Shivakumar, Cooperation Minister S.T. Somashekar said the department can dismiss him for alleged misappropriation of funds.

The elections are scheduled on December 10.

Addressing the Janaswaraj Yathre organised by Bharatiya Janata Party in Udupi and Mangaluru, Mr. Somashekar said ₹19 lakh was being transferred every year from the South Canara District Central Cooperative (SCDCC) Bank to Navodaya Grama Vikasa Charitable Trust, of which Mr. Kumar is the Managing Trustee. The Registrar of Cooperative Societies has the power to disqualify him from being a member of the Board under Section 29C of the Karnataka Cooperative Societies Act, he said.

Mr. Kumar decided to contest the polls as an independent candidate from Dakshina Kannada-Udupi Local Authorities’ constituency, which has two seats, stating that no one heeded to his request to give representation to the cooperative sector in the Council. He opened a campaign office in Mangaluru on November 16 and met Karnataka Pradesh Congress Committee president D.K. Shivakumar in Bengaluru on November 17.

Former Minister Vinay Kumar Sorake and former Byndoor MLA K. Gopal Poojari facilitated the meeting.

Congress leaders are believed to be wary of Mr. Kumar’s candidature as he could defeat the party’s official candidate, and hence attempted to win him over to their side.