Mysuru: The Assistant Registrar of Co-operative Societies has disqualified the city’s The Mysuru Co-operative Bank Director Somanna for a period of five years on charges of misappropriating funds to the tune of Rs. 36 lakhs. The Bank is located at Gandhi Square.
The Mysore Co-operative Bank had lodged a petition at a city Court seeking vacation of all tenants occupying the Bank’s commercial spaces, following which the Court had ordered eviction of tenants. But Somanna is said to have allowed the tenants to continue their business, after allegedly collecting Rs. 4.5 lakh from each of the tenant amounting to Rs. 36 lakh, in violation of the Court order.
