21st AGM Notice
SIKKIM STATE CO-OPERATIVE BANK LTD.
METRO POINT,TADONG, SIKKIM- 737102
Ref. No.HO/AGM/1330 /2020-21
Date : 03.11.2020
In terms of Section 32(1) of the Sikkim Co-operative Societies Act, 1978 read with Bye –Law No. 30 of the Bye Laws of the Bank, it is hereby notified that the 21st Annual General Body Meeting of the Sikkim State Co-operative Bank Limited (SISCO Bank) will be held at the Hotel Rendezvous, Gangtok from 11.00AM on the 27th of November 2020 (Friday) to transact the following business:
To confirm the proceedings of the 20th Annual General Body Meeting of the Bank which was held on 12th September 2019
- To receive and consider the Annual Report of the Bank for the year 2019-20.
- To receive, consider and approve the Audited Balance Sheet, Profit & Loss Account and Auditor’s Report of the Bank as on 31 March, 2020 for the financial year ended 31st March 2020.
- To sanction appropriation of net profit to various reserves for the year 2019-20, as recommended by the Board of Directors of the Bank.
- To consider and decide in the matter of declaration of dividend for the year 2019-20, as recommended by the Board of Directors of the Bank.
- To consider and approve the Capital Budget of the Bank for the year 2020-21 along with the actual vis- a -vis the estimates for the F.Y. 2019-20.
- To consider and approve the Business Budget of the Bank for the year 2020-21 along-with the actual vis -a -vis the estimates for the F.Y. 2019-20
- To consider and approve the Income and Expenditure Budget of the bank for the year 2020-21, along-with the actual vis-a-vis the estimates for the F.Y. 2019-20.
- To fix up the maximum Borrowing power of the Bank for the year 2020-21 in terms of the provision of the Bye Laws of the Bank, The Sikkim Co-operative Societies Act 1978 as amended from time to time and the Rules there under.
- To consider reports of inspection and enquiry made in accordance with the provisions of the Act, the Rules and Bye Law, if any.
- To consider matters relating to the loans and advances given to the Directors and their relatives and actions to be taken for recovery thereof in case of default.
- Presentation of Awards to three best performing Multi -Purpose Co-operative Societies for the year 2019-20.
- To consider amendment in the bye laws of the Bank with regards to the Shares and Share Capital of the Bank as per amendment in the Banking Regulation Act(2020).
- Election of the Directors of the Bank as per provisions of the Sikkim Co-operative Societies Act 1978, as amended from time to time, rules made there under, and Bye-laws of the Bank.
- Any other business for which prior notice has been given at least 3 days in advance and / or with the permission of the Chair.
All delegates and individual shareholders are requested to make it convenient to attend the meeting and participate in the deliberations.
It may please be noted that only one delegate from each member Society can attend the meeting for which a supporting resolution of the respective Managing Committee is to be produced at the reception counter. The Identification Slip as enclosed, duly filled in and signed by the accredited authority may please be produced at the entrance of the Meeting Hall between 10.15 a.m. and 10.45 a.m. of the event date.
It may please be noted that “Rules” for conduct of elections of the next Board of Directors of the Bank would be available with the Deputy General Manager (Human Resource Department) of the Bank from 11 a.m. to 5 p.m. on working days at the Head Office premises of the Bank at Metro Point, NH-10A , Tadong, East Sikkim, Pin-737102.