Ujjain (Madhya Pradesh): The term of the Board of Directors of the Ujjain mutual cooperative bank is ending this month. The Single Bench of the High Court has issued an order to the Madhya Pradesh Election Authority to conduct elections within a month.
The order has paved way for the bank elections. The term of the current Board of Directors will end on September 30. There elections of the bank's board of directors which is held every five years has run into controversy after the current president Anil Singh Chandel accused Cabinet minister Mohan Yadav of stalling the elections process.
Speculations were rife that the elections to the Board of Directors would not be held and a receiver would manage the bank. But the present Board of Directors moved High Court and the single bench of judge Subodh Abhyankar ordered to complete the election process in a month.
The cooperative department will appoint an election officer to take the election process forward. If everything goes well, the new board of directors will be elected by Diwali.