MCC Bank Ltd celebrates 113th Founder's Day
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Mangaluru: MCC Bank Ltd marked its 113th Founder's Day with a vibrant celebration at its Administrative Office Campus on Saturday, honoring the enduring legacy of its founder, P.F.X. Saldanha, and reaffirming the Bank’s steadfast commitment and resilience in the cooperative sector.
The program began with a prayer conducted by Deale Dsouza and team. Documentary on the history and progress of the bank was presented. Distinguished guests on the dais included Rev. Fr Denis D’Sa, PRO, Udupi Diocese; Rev. Sr Clara Menezes, UFC, Provincial Superior, Mangalore Province; Lionel Aranha, Chartered Accountant; Prof. Hilda Rayappan, Director, Prajna Counselling Centre; Stephen Menezes, President, Mangalore Konkans, Dubai and Sunil Menezes, General Manager of the Bank.
In his welcome address, Anil Lobo, Chairman of the Bank, extended a warm greeting to the dignitaries, board members, staff, and guests present. He highlighted the remarkable transformation of MCC Bank over the years, emphasizing its current standing on par with nationalized banks in terms of service quality and performance. Lobo expressed heartfelt admiration for Rev. Fr Denis D’Sa, describing him as a true source of inspiration and a paragon of professionalism. He modestly chose not to elaborate on the Bank’s achievements, noting that they had already been effectively conveyed to the audience.
The program included a tribute to the Bank’s founder, as dignitaries and member of P.F.X. Saldanha’s family offered floral respects to his portrait.
In his keynote address, Rev. Fr Denis D’Sa congratulated the Bank and delivered an inspiring message rooted in three core principles:
1. Looking Back with Gratitude – Celebrating the legacy and foundational values of the institution.
2. Looking Within for Self-Evaluation – Encouraging introspection through SWOT analysis and the courage to take risks.
3. Looking Forward with Trust in God – Emphasizing faith and perseverance, drawing parallels with astronaut Sunita Williams' journey.
He urged the staff members to remain diligent, serve with empathy, and approach customers with a smile.
Charity contributions were distributed by the Chairman to De Mercede Orphanage, Panir, and Shalom Trust®️, Kankanady, underlining the Bank’s commitment to
social responsibility.
Rev. Sr Clara Menezes released the annual bulletin, joined by Editor Dr Gerald Pinto and Sub-Editor Shery Ashna. In her address, she praised the Bank’s legacy and emphasized the importance of opportunity, patience, professionalism, and hard work in achieving sustainable growth. Newly qualified Chartered Accountants, children of esteemed customers were felicitated.
Prof. Dr Edmund J. B. Frank, St Aloysius college and Ex-chairman of MCC bank, Mr Marcel M. Dsouza, Ex Director of MCC Bank, Konkani Writer and Mr Stephen Menezes, newly elected President of Mangalore Konkans, Dubai, for their commendable service to the community were also felicitated.
CA Lionel Aranha presented a brief history of the Bank, reminding attendees that success is not merely about results, but about the integrity and principles upheld in achieving them.Additionally, Prof Hilda Rayappan, Director of Prajna Counselling Centre, who has served the Society for the last 50 years was also felicitated during the occasion.
Directors Andrew Dsouza, Herold Monteiro, Anil Patrao, Roshan Dsouza, Melwyn Vas, Freeda Dsouza, Irene Rebello, Alwyn P. Montiero, Sharmila Menezes, Felix DCruz, Dr Gerald Pinto, and C G Pinto were present.
The event was presided over by Sahakara Ratna Anil Lobo, Chairman of the Bank, with General Manager Sunil Menezes delivering the vote of thanks, and Grishma Melisha Saldanha of Neermarga serving as the compère.
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ED arrests Sandeepa Virk, 'cosmetologist' for alleged money laundering
New Delhi, Aug 13 (PTI): The Enforcement Directorate said on Wednesday it has arrested a woman, who claims to be an actor and a cosmetologist, under the anti-money laundering law in a case of alleged fraud and misrepresentation.
The agency said the purported links of the woman, Sandeepa Virk, with a Reliance Group executive, Angarai Natarajan Sethuraman (President, Corporate Affairs), are also under its scanner. Sethuraman, in a statement, denied any connection with Virk or any transactions related to her.
Virk was taken into custody under the Prevention of Money Laundering Act (PMLA) on Tuesday after searches were conducted against her and her associates in Delhi and Mumbai over the last two days.
A special court sent her to the ED's custody till August 14, the agency said. The woman claims to be the owner of a skin care products selling website named hyboocare.com, which the ED claimed was a "front" for money laundering.
She and her associates are being probed for allegedly exerting undue influence through "misrepresentation" and "defrauding" individuals by soliciting money under false pretences.
According to an Instagram ID of Virk, she is an actor and entrepreneur and the founder of the said website.
The federal agency said in a statement that the woman was also "in touch with" Sethuraman, former director of erstwhile Reliance Capital Limited.
She was communicating with him regarding "illegal liaisoning", the ED claimed, adding that the searches at Sethuraman's residence "confirmed" these allegations.
"Besides, diversion of funds for personal benefit has also been unearthed during the course of the search action," it said.
The ED alleged that public money worth about Rs 18 crore belonging to Reliance Commercial Finance Limited (RCFL) was disbursed to Sethuraman in 2018 by "flouting" prudent lending norms.
The funds were lent under terms that allowed a deferment of the principal amount as well as the interest, with multiple waivers granted and no due diligence conducted, it said.
The ED claimed that besides this, a home loan of Rs 22 crore was provided by Reliance Capital Limited by "violating" the prudential norms. "A large part of these loans are seen to have been eventually siphoned off and remained unpaid," it alleged.
Sethuraman, in a statement, dismissed the allegations as "baseless". He denied any connection with Virk or any transactions related to her.
Detailing about Virk's web portal, the agency said it purportedly sold FDA-approved beauty products. However, the ED said the products listed on the website have been found to be non-existent and the portal lacks a user registration option and is plagued by persistent payment gateway issues.
A scrutiny of the website uncovered minimal social-media engagement, an inactive WhatsApp contact number and an absence of transparent organisational details, all of which reinforce the finding of "non-genuine" commercial activity, the ED claimed.
"These factors, including limited product range, inflated pricing, false claims of FDA approval and technical inconsistencies, indicate that the website serves as a front for laundering funds," it said.
Another social media-hosted bio data of the woman said she is a certified cosmetologist.
The ED said several "incriminating" documents were seized during the searches and the statement of a man named Farrukh Ali, stated to be an associate of Virk, was recorded.
The money-laundering case stems from an FIR lodged by the Punjab Police.
Sethuraman said that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.
