Mumbai, March 1 -- The Nagpur bench of the Bombay high court (HC) recently quashed and set aside the first information report (FIR) registered against a former managing committee member of Samata Sahakari Cooperative Bank in Nagpur after it was informed that the loss that the member had caused to the bank by disbursing loans without security, had occurred before the Maharashtra Protection of Investors Deposit (MPID) Act, 1999, came into force. The court also took cognisance of the fact that the loans, amounting to nearly Rs.145 crore disbursed with his approval, had been recovered....