Elections for Devika Cooperative Bank held; results withheld on court order

Excelsior Correspondent
UDHAMPUR, June 3: After a gap of seven  years, elections for the Board of Directors of Devika Urban Co-operative Bank Ltd were held today even as the results are withheld on the direction of State High Court.
According to Rajesh Sharma, CEO of the bank, a total number of  462 votes were polled at  four polling stations, one each established at Town Hall Ramnagar,  Tehsildar office Chenani and two at Town Hall Udhampur. Deputy Commissioner Udhampur had deputed Tehsildar Udhampur as  Returning Officer  for the elections.
For the posts of five Director, total seven candidates, namely Rakesh Gupta, Kuldeep Sharma, Subash Chander Abrol, Bansi Lal Gupta, Diwakar Gupta, Mohan Satora and R D Gupta,  had filed their nomination papers. As nomination papers of R D Gupta (a retired bank officer) were  rejected by the Scrutiny Officer,  he approached the High Court, which allowed him to contest the elections and further directed that the result shall remain stayed till the further order.
Even as there 38 shareholders of the bank, only 462 of them cast their votes to elect the new Directors. A number of shareholders alleged that the bank administration intentionally did not inform  the members about the election process and this was the only reason behind extremely low turn out.
“As per by laws of the bank,  the authorities have to convene the AGM before  announcement of elections  and then and each share holders is individually informed  about the election but these norms were not followed for the reasons best known to the persons at the helm of affairs,” they further alleged.