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  • Delhi Nagarik Sahakari Bank: HC allows formation of Board

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    The Delhi High Court has green-lighted the management elected in the recently held election of Delhi Nagarik Sahakari Bank to form the board. The court gave this verdict last week when the petitioners withdrew their writ. It bears recall that the Delhi High Court had stayed the election result of Delhi Nagarik Sahakari Bank till 11th of January 2018. The court gave this stay verdict while conside ......
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  • Kerala’s Co-op Congress: Collecting donations by force?

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    In the run up to the high-voltage Cooperative Congress being planned by Kerala govt in February, allegations of collecting donation by force have been reported from various quarters. Reacting angrily to the development Kerala Congress leader K.C.Josef has alleged that lakhs of rupees are being compulsorily collected as donation from cooperative societies for the conference. Josef threatened boyc ......
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  • Bassein Catholic Co-op Bank: Almeida elected Chairman

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    Onil John Almeida has been elected as the Chairman of Maharashtra based 99th years old urban cooperative bank- Bassein Catholic Cooperative Bank on Monday in its’ headquarters in Vasai replacing Vice-Chairman Yuri Gonsalves officiating as the Chairman. Almeida from the ‘Aapla Panel’ received 12 votes whereas his rival Wilson Domnic Machado got only 6 votes. “18 Directors exercised their ......
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  • PMC ties up with Reliance to sell Mutual Funds

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    The leading Urban Cooperative Bank Punjab & Maharashtra Co-operative Bank (PMC) has tied up with Reliance Mutual Fund for selling of funds of Reliance. In a press release PMC says some of the Reliance Funds are very good and names the SIPs such as Reliance Top 200 Fund, Reliance Growth Fund and Reliance Regular Savings Fund- Equity option as worth buying. It is also eager to sell some other ......
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  • Odisha: Fake loan, farmers and co-ops

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    Odisha cooperation minister Surya Narayan Patro has warned strict would be taken against cooperative officials found indulging in illegal transactions. Several cases of fake loan to farmers have surfaced in which the co-op officials pocketed the loan amount and showed it in the name of farmers in the paper, reports Odisha Tv. In one case, the allegation is officials of the cooperative have misapp ......
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  • Audit to uncover scam in Muslim Co-op Bank

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    Co-operatives commissioner and registrar has ordered an audit of the Muslim Co-operative Bank in Pune , Maharashtra run by educationist PA Inamdar, who is also its chairman, reports HT.  The audit has been ordered after complaints alleging that there was a fraud worth Rs 100 to Rs 110 crores in the bank in the last eight to 10 years. However, the bank's chairman has denied allegations.  The au ......
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  • Desjardins adopts policy to combat climate change

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    Canadian financial co-operative Desjardins Groups announced a series of measures to help it tackle climate change, with a new set of targets set to go into its team annual report from this year onwards. With assets of CAD $276.3bn, Desjardins is the country’s largest co-operative financial group and the largest association of credit unions in North America. “As a financial co-operat ......
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  • 2017 in review: Top stories from the co-op movement

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    January The 2017 New Year Honours list included an award for Dorothy Francis, chief executive of Leicester-based Co-operative And Social Enterprise support agency (CASE). Ms Francis, who has worked in the movement for 35 years, has been given an MBE for “services to enterprise and the communities”. The USA’s largest independent co-op of organic farmers, CROPP – which trades as Organi ......
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  • Housing Manual-Empty Mandate to Maha C H S Law-6

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    By I C Naik (“Nomination to flats on member’s death– Confusion Compounded” posted in the Cooperative Coffee Shop on December 17, 2017 was in fact Part 5 of the articles written by Mr I C Naik. This is Part 6-Editor) Every member of a co-operative housing society is at least conscious about importance of the society’s financials management. It is about management, accounting a ......
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  • Nomination to flats on member’s death– Confusion Compounded

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    By I C Naik Nomination of a person to whom the society shall transfer the share and interest of the deceased member is a matter of serious anxiety for every flat-owner in a housing society. The Process has become a source of irritation to the Management Committee though the M C S Act 1960 u/s 30 provides an extremely simple mechanism in this behalf. It is to be administered in accordance with si ......
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