Excelsior Correspondent
JAMMU, Jan 31: After a long gap of more than nine years, Annual General Meeting of the shareholders of Citizens’ Cooperative Bank Ltd (CCBL), Jammu, was held today by the newly elected Board of Directors, led by Chairman Parveen Sharma.
Ashok Goswamy, Managing Director of the Bank, placed AGM agenda items before the shareholders, who approved the same with unanimous voice vote and by raising their hands. This was the 5th AGM of the bank since its inception.
The AGM approved adopting of Annual Accounts (Audited) for the year 2009-10 to 2016-17, amending by-laws and frame service rules to govern service conditions of employees of the CCBL and authorizing the Board of Directors to write off the debts and to settle the loans.
Chairman Parveen Sharma, in his address to the shareholders, highlighted the role of Cooperatives and cut throat completion being faced by this Urban Cooperative Bank from the private sector banks and public sector banks and highlighted the various steps taken by the management of the bank to cater to the needs of customers viz; computerization of bank under core banking solution, providing of facilities like RTGS, NEFT, Debit Cards, SMS alerts, PoS machines etc.
In order to reduce the NPAs, Chairman requested the members, whose loans are in arrears, to liquidate their loans to avoid the coercive actions under SARFAESI Act, 2002.
Director Sachin Gupta, in his address to the general body, sought cooperation of the members to carry out the working of bank smoothly as no body alone can accomplish the goals.
D P Khajuria, a shareholder associated with the bank since long, said that it was strange to note that the age of bank was 40 years whereas this was only 5th AGM. He stated that present Board of Directors deserve appreciations to take initiative of holding AGM and expected that it will be a regular feature.
Manish Sharma, Vice Chairman JAKFED, expressed that with the holding of AGM, a trust has been reposed in the cooperatives and termed it as a good step for the development of cooperative in the State.
Former Chairmen of the bank, Onkar Seth, Surjeet Singh Manhas and ex Directors Arun Gupta, Kailash Langer and Karunesh Gupta, also attended the AGM. S Surinder Singh Advocate and Director, presented vote of thanks.
The Board of Directors, present on the occasion, included Bharat Bhushan Gupta, Kuldeep Raj Gupta, Sachin Gupta, Sumant Singh Jamwal, Suresh Kumar and Varinder Singh Jamwal.
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