Shareholders of the Kerala Mercantile Cooperative Bank here on Thursday demanded the Registrar and the Joint Registrar of the Cooperative Societies to conduct an inquiry into the alleged financial irregularities took place in the bank during 2010-2011.

The shareholders, who formed an outfit named Save Mercantile Bank Forum, said the bank suffered a loss of Rs.22,74,473 during the period owing to mismanagement. The bank was yet to recover a debt of Rs.12,90,000, they said. Ram Mohan Kammath, chairman of the forum, alleged that the bank's chairman and the chief executive officer had tried to prevent the shareholders from attending the annual meeting of the bank recently.

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