In the ongoing elections of Gujarat’s leading cooperative bank-Surat People’s Cooperative Bank, the ‘infighting’ between the outgoing directors is being observed. The election of the bank is scheduled for 6th August 2023.
The outgoing board is divided between two panels. The Sattadhari Vikas Panel is led by Mukesh Dalal, the outgoing Chairman of the bank whereas the Sattadhari Sahakar Panel is headed by Mukesh Gajjar, the former Chairman of the bank.
The conflict arose in the wake of the amended Banking Regulation Act, which bars directors from remaining on the board continuously for a period exceeding eight years.
It is gathered that half of the directors of the bank tendered their resignations from the board in June with the intention to contest the election. However, some of them had held positions in management for more than one decade.
Meanwhile, talking to the Indian Cooperative correspondent, some candidates from both panels have accused each other of following the tradition of ‘familism’.
Talking to the Indian Cooperative Mukesh Dalal said, “Mukesh Gajjar of the Sattadhari Sahakar Panel fielded his son Nimish Gajjar. Ayushi Gajjar, the daughter of former director Amit Gajjar is also in the race. Out of 13 candidates, many are directly or indirectly associated with the Gajjar family”.
When the Indian Cooperative correspondent contacted Mukesh Gajjar to elicit his response on the elections, he said “We don’t want any politics in the bank” and slammed the phone.
One of the candidates from Gajjar’s panel said, “It is wrong to say that we have fielded the candidates who belong to our family. It is an open platform anyone can contest the election. It is his or her choice. Mukesh Dalal who is accusing us of following the ‘Familism’ tradition, has himself fielded his brother namely Anil Dalal”.
“We are fighting for the development of the bank and we are sure that our panel will win the election with full majority. In our Sattadhar Sahakar Panel, roughly five candidates are from the outgoing board”, he said on condition of anonymity.
Interestingly, candidates have not accused each other of having been involved in any financial irregularities. It is also learned that several negotiations were held between candidates for having unanimous elections but all efforts have gone in vain so far.
It is worth mentioning that with the support of Mukesh Gajjar and other directors, Mukesh Dalal became the Chairman of the bank in 2021 for two years.
Meanwhile, both the panels have also launched the campaign on social media platforms wooing voters. The bank board comprises 13 directors out of which 10 from General Category, 2 from Women and 1 from SC/ST.
The election is scheduled from 6th August 2023 and counting of votes will be held on 7th August 2023. The result will be declared on 12th August 2023. Dhruvin M Patel has been appointed as the Returning officer.
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, beating all its past records. The bank has a network of 30 branches, in Gujarat and Maharashtra.
Readers would recall that the bank hogged the media headlines for getting an award on the completion of 100 years from Union Home and Cooperation Minister Amit Shah at Vigyan Bhawan.