Pune-headquartered Cosmos Cooperative Bank made history as the total number of nominations did not exceed the total number of Board positions, resulting in one of the smoothest transitions of power in cooperative history.
Although the official results are yet to be announced, the list of elected candidates who won unopposed has already been posted on the official website of the Cosmos Cooperative Bank.
The final list of candidates shows that for the 13 seats on the board of directors, only 13 nominations were received. Consequently, there will be no elections for any seat on the board, and all candidates are to be elected unopposed.
Interestingly, some outgoing board members and prominent co-operators, including Milind Kale and Mukund Abhyankar, could not contest due to amendments in the Banking Regulation Act.
However, senior cooperator and former NCUI President G.H. Amin, an Ahmedabad resident, successfully secured a seat on the board, representing the Gujarat and Madhya Pradesh constituencies.
In the newly elected board, several members are seasoned veterans, while a few are newcomers. The election results will officially be declared on Monday, 23 December 2024, after approval by the Co-operative Election Authority, New Delhi.
Additionally, the election for the Chairman and Vice-Chairman positions is scheduled for 26 December 2024, with results to be announced after receiving approval from the Co-operative Election Authority.
Cosmos Cooperative Bank Ltd. has reported a net profit of Rs 384 crore for the financial year 2023-2024. The bank’s total business volume reached Rs 35,408 crore, marking an increase of Rs 4,662 crore (15.16%) from the previous year.
Deposits grew by Rs 2,587 crore to Rs 20,216 crore, while advances rose by Rs 2,075 crore, totaling Rs 15,192 crore.
The newly elected directors are:
Rasika Gupta
Surekha Joshi
Praveenkumar Gandhi
Ajit Gijara
Subramaniam Santhanam
Ghanshyam Amin
Pralhad Kokare
Sachin Apte
Yashwant Kasar
Arvind Taware
Balasaheb Sathe
Anushree Malgaonkar
Rekha Pokale
