Latest news with #KeralaCooperativeSocietiesRules
The Hindu
24-04-2025
- Politics
- The Hindu
No confidence motion in KSCARD Bank passed, but declaration of results put on hold
The motion of no confidence moved by a section of members against a director board of the United Democratic Front (UDF)-governed Kerala State Co-operative Agricultural and Rural Development (KSCARD) Bank was passed 40-37 on Thursday. However, the declaration of results or any further action will be subject to the Kerala High Court verdict on a case regarding the validity of Rule 43C recently added by the State government to the Kerala Cooperative Societies Rules providing for 'motion of no confidence' against managing committees of cooperative societies and banks by the general body. Conveyed objections The director board has, meanwhile, conveyed their objections to the court regarding the votes cast by the representatives of the Kattakada and Vadakara co-operative agricultural and rural development banks, bank president C.K. Shajimohan said. Earlier this week, the director board of the bank had accused the State government of aiding the Communist Party of India (Marxist) [CPI(M)] attempts to wrest control of the UDF-governed bank. The director board, which has a UDF majority, has maintained that neither the Cooperative Societies Act nor the bylaw of the KSCARD Bank provides for no confidence motion. The bylaw clearly says that an elected committee stays in power for five years.
The Hindu
21-04-2025
- Business
- The Hindu
Govt. aiding CPI(M) attempts to wrest control of KSCARD Bank, allege bank president and board of directors
The director board of the Kerala State Co-operative Agricultural and Rural Development Bank (KSCARD Bank) has accused the State government of aiding the 'undemocratic' attempts of the Communist Party of India (Marxist) [CPI(M)] to wrest control of the UDF-governed bank. Bank president C.K. Shajimohan told reporters here on Monday that a recent addition to the Kerala Cooperative Societies Rules specifically targeted KSCARD Bank. The new Rule 43C provides for 'motion of no confidence' for the removal against the managing committee of cooperative societies and banks by the general body. In the latest development, the Additional Registrar (Credit), Office of the Registrar of Cooperative Societies, has issued a notice on the strength of this rule for convening a meeting on April 24 to discuss a no confidence motion moved against the governing committee of the bank. 'Neither the Cooperative Societies Act, comprehensively overhauled by the government some months ago, nor the bylaw of the KSCARD Bank provides for such an action. The bylaw clearly says that an elected committee stays in power for five years,' Mr. Shajimohan said. The State government has displayed unwarranted haste in pushing the amendment through. Although the bank management had filed an objection within the stipulated 15 days, it was not heard, he said. United Democratic Front (UDF) members have a majority in the 18-member board of directors. Prior to the election of the current management, the bank was under an administrator. Mr. Shajimohan went on to add that, unlike cooperative banks managed by the CPI(M), the KSCARD Bank has not drawn criticism for inefficiency or financial irregularities.
