Karnataka-based Indian Cooperative Credit Society Limited, which has a substantial portion of its business operations in Kerala, will hold its Annual General Meeting (AGM) on February 1, 2026, in Bengaluru, according to a notice issued by the society.
The AGM is being convened under Section 39(2) of the Multi-State Co-operative Societies Act, 2002, by an authorised person appointed by the Central Registrar of Co-operative Societies, following the society’s failure to convene the meeting within the prescribed statutory period.
The notice stated that the meeting is being held in compliance with the provisions of the Multi-State Co-operative Societies Act, 2002, the rules framed thereunder and the bye-laws of the society. Members and delegates may approach the registered office of the society for inspection of relevant records.
The detailed AGM notice, proposed bye-law amendments and audited financial statements will be made available for download on the society’s website.
As per the audited accounts for the year ended March 31, 2025, the Bengaluru-based multi-state credit society reported strong growth in its business operations. Total deposits stood at Rs 514.25 crore in FY25, compared to Rs 473.59 crore in the previous financial year, while advances increased to Rs 448.61 crore from Rs 400.61 crore.
With this, the society’s total business (deposits and advances) crossed Rs 962 crore as on March 31, 2025. In the current financial year, the society’s total business has further crossed the Rs 1,000-crore mark.
The balance sheet size of the society expanded to Rs 528.06 crore at the end of FY25, supported by a share capital of Rs 107.27 crore and reserves and surplus of Rs 66.72 crore.
On the profitability front, the society reported a net profit of Rs 17.27 crore for FY25, marking a sharp turnaround from a net loss of Rs 19.95 crore in the previous financial year. Total income during the year stood at Rs 411.94 crore, driven largely by interest income of Rs 411.29 crore. Interest expenditure amounted to Rs 281.90 crore, while operating expenses were Rs 37.60 crore, as per the audited accounts.
In accordance with its bye-laws, the society allocated portions of its net profit towards statutory and welfare funds, including the reserve fund, education fund, inflation support fund, building fund, common good fund, co-operative credit union propaganda fund and a bad debts reserve fund.
The audited financial statements will be placed before the members during the annual general meeting for their consideration.
The AGM notice has been issued by Meenu John, Acting Chief Executive Officer, by order of the authorised person appointed by the Central Registrar of Co-operative Societies.
The society is working under the leadership of Sojan V. Avirachan, propelling the Indian Cooperative Credit Society (ICCSL) to new heights and emerging as one of the leading Multi-State Cooperative Societies (MSCS) in South India.
