Kalupur Comm Co-op Bank: Ambubhai unanimously elected as Chairman

Senior cooperator and veteran associated with Gujarat-based Kalupur Commercial Cooperative Bank, Ambubhai M. Patel, has been unanimously elected as the Chairman of the bank.

CA Kaushikbhai N. Patel has been elected as the Vice-Chairman. The election was held on Wednesday at the bank’s headquarters in Ahmedabad.

Although the results are not officially declared, the official results are yet to be announced as they have been sent for approval to the Cooperative Election Authority.

Ambubhai M. Patel, a prominent businessman, is actively involved in various religious, charitable, educational, and social organizations. He has previously served as the Chairman of the bank and is widely recognized for his business acumen, administrative skills, and sincerity. He is supported by a team of experienced directors and professional executives.

Kaushikbhai N. Patel, a qualified chartered accountant, has extensive experience in strategy, financial planning, mergers and acquisitions, direct tax, and capital markets. He has served as a Non-Executive Independent Director at Nirma Limited and Nuvoco Vistas Corporation Limited, an Independent Director at Glenmark Life Sciences Ltd., and as a trustee of various trusts.

He holds an undergraduate degree from Gujarat University.

It is noteworthy that the election of the Board of Directors of Kalupur Commercial Cooperative Bank was also held unopposed. Out of the 12 seats on the board, five were filled by new members.

Interestingly, Navnitbhai Patel, who resigned from his position as Chairman around a year ago and stepped down from the board to pave the way for Dineshbhai Amin to assume the chairmanship, has now been successfully elected to the board as a director.

The elected directors from the general category include Ambubhai Patel, Ashishbhai Guru, Asit Patel, Dhinal Shah, Kanubhai Patel, Kaushikbhai Patel, Kiritbhai Patel, Minesh Patel, and Navnitbhai Patel. From the women’s category, Mittal Patel and Purviben Pokhariyal were elected, while Binisha Patel was elected from the SC/ST category.

Kalupur Commercial Cooperative Bank boasts a business mix of over Rs 19,000 crore and recorded a profit of Rs 224 crore in the 2023-24 financial year.