The Sattadhari Sahakar Panel won the election of Surat People’s Cooperative Bank in a landslide victory defeating the opposition Sattadhari Vikas Panel, led by the outgoing Chairman Mukesh Dalal, by huge margins.
The results were announced today (Monday) evening. As soon as the results were announced, the candidates who contested the election from the Sattadhari Sahakar Panel lost no time in congratulating each other. They took to social media to thank each other and shareholders for reposing faith in them.
The Sahakar Panel contested the elections under the guidance of Mukesh Gajjar, the former Chairman of the bank. It is said that due to the amended Banking Regulation Act, he has not contested the election but he fielded his son Nimish Gajjar.
Mukesh Dalal got 3020 votes whereas Gajjar son’s received 8868 votes. Several candidates of Dalal’s panel lost their deposits.
Meanwhile, Indian Cooperative’s effort to contact the winning panel candidates for comment have failed.
According to details coming to the Indian Cooperative desk, “Around 15,000 members cast their votes during the election out of which 3350 votes got invalid. 7100 candidates cast their votes in favour of the Sahakar Panel whereas 1700 casted in favour of the Vikas Panel”.
The elections were held on 06 August 2023 and the counting of votes was done on 07 August 2023 but the official announcement of the results will be made on 12th August 2023 during the bank’s Annual General Meeting to be held at Surat.
Gujarat’s Surat People’s Cooperative Bank crossed the business mix of more than Rs 10,200 crore and earned a net profit of Rs 77 in the 2022-23 financial year. The bank has a network of 30 branches, in Gujarat and Maharashtra.
