Kapol Cooperative Bank Limited controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2023
Financial irregularities and regulatory failure
The bank faced allegations of financial irregularities and fraud alongside inadequate capital, poor earning prospects and failures to meet regulatory requirements. The RBI subsequently cancelled its licence and the institution entered liquidation.
2019
Former officer linked to letters-of-credit scam
Former bank officer Jayanta Dimbeshwar Das was arrested in connection with an alleged ₹15 crore letters-of-credit scam.
2013
Alleged forged letters-of-credit diversion
Director Hiren Mehta was arrested in a case alleging that he helped three businessmen divert ₹14.5 crore through forged letters of credit.