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Distressed depositors of Pramuka Bank on Thursday secured a stay order to stop Central Bank from liquidating the failed savings and development bank.
Thursdays court ruling prevents monetary authorities from going ahead with liquidation procedures until February 21.rn

rnDepositors claim that Central Bank cancelled Pramukas licence without taking the interest of depositors or creditors.rn

rnThe petitioners said they had placed deposits with the Pramuka Savings & Development Bank and thus at all relevant times had a legitimate interest in the proper functioning of the bank.rn