The Jaya C Suvarna-panel led by Suryakant J Suvarna has made a clean sweep in the election of board of directors of the leading bank of Maharashtra- Bharat Cooperative Bank. The election was held on 2nd October 2023 and the counting was done on 4th October 2023. The results were officially declared on 5th October 2023.
Suryakanta Jaya Suvarna is the son of former chairman Late Jaya C Suvarna. The other panel namely Billawar Association Mumbai panel failed to secure a single berth on the board of the bank. Suvarna received 8,013 votes whereas Harish G Amin who was leading the Billawar Association Mumbai panel nomination got rejected on some grounds but fielded his panel.
Interestingly, the outgoing Chairman U.Shivaji Poojary and Vice-Chairperson Rohini J.Salian had not contested the election. Bharat Cooperative Bank consists of 20 elected directors out of which 17 are from general category, 2 reserved for women and 1 reserved for SC/ST. The election was held for 19 seats and 40 candidates were in the fray. The SC/ST reserved category seat was elected unopposed.
A K Chavan was appointed as the returning officer to oversee the election process. The election of Chairman and Vice-Chairman will be held in a couple of days. The leading bank of Maharashtra-Bharat Cooperative Bank achieved a business mix of Rs 18,259 crore in the 2022-23 financial year and registered a slight decrease in net NPAs as percentage of net advances.