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• Bank
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Financial Statements

• Performance at a Glance
• Balance Sheet
• Profit & Loss Account
• Significant Accounting Policies and Notes on Accounts
• Independent Auditors Report
• 33rd Annual Report

Interest Rates

• Interest Rates on Deposits
• Interest Rates on Loans

Careers

Customer Care

• (Customer Facilitation Centre)

Service Charges

Notices

NOTICE OF 33rd ANNUAL GENERAL BODY MEETING

Notice is hereby given that the 33rd Annual General Body Meeting of shareholders of the Bank will be held on Friday, 23rd September 2022, at 4.00 p.m. at Kutchhi Bhavan, 3-5-141/2/A/1, Ramkote, Hyderabad - 500 001 to transact the following business.

1. To consider and adopt the 33rd Annual Report together with the Audited statement of accounts and Auditor’s Report for the year 2021-22.
2. To consider and appropriate Net Profit of the Bank and declare dividend on shares for the year ended 31.03.2022.
3. I. To ratify the excess expenditure incurred over the budgeted during the financial year 2021-22.
   II. To approve the revised Budget of Income & Expenditure of the bank for the Financial Year 2022-23.
4. To note and ratify the admission & retirement of members and receipt & refund of share capital during the period 01.01.2022 to 31.05.2022.
5. To note and confirm the Investments made / withdrawn by the Bank during the period 01.01.2022 to 31.05.2022.
6. To review measures taken for recovery of overdue loans / bad debts.
7. To authorise the Board to appoint Statutory Auditors for Financial Year 2022- 23 and fix their remuneration subject to approval from RBI.
8. Any other matter with the permission of the Chair.

All Members are requested to attend the Annual General Body Meeting.

Note:

In the event of absence of quorum, the adjourned Annual General Body Meeting will be held at the same venue, the same day after 30 minutes of adjournment.

Members are requested to bring along with them their share certificates/Identity Cards for admission.

Members are requested to submit their phone numbers, email & account details to update the data in Bank records.

The financial results are available on Banks website www.vardhamanbank.com.

The Government guidelines prevailing on the date due to COVID-19 pandemic will be applicable for physical presence.

SALE NOTICE FOR SALE OF IMMOVABLE PROPERTY

Sale Notice for sale of Immovable assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act 2002 read with provision to Rule 8(6) and Rule 9(1) of the Security Interest (Enforcement) Rules, 2002.

Notice is hereby given to the public in general and in particular to the Borrowers, Co-obligants and Guarantors (details mentioned in table) that the below described immovable property mortgaged/charged to Vardhaman (Mahila) Co-operative Urban Bank Ltd., the Constructive possession of which has been taken by the Authorised Officer of Vardhaman (Mahila) Co-operative Urban Bank Ltd., will be sold on “ As is where is “,”As is What is”, and “Whatever there is” basis on 07 Sep 2022,time 01.00 pm onwards for the recovery of dues(Mentioned below) to the Vardhaman (Mahila) Co-operative Urban Bank Ltd., from borrowers, guarantors and Co-obligants.The reserve Price and the earnest money deposit will be as mentioned in the below table.

Names of the Accounts , borrowers, Guarantors, etc.

1. M/s Neeharika Industries Pvt Ltd (Borrower): Regd. Office: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, Factory Address: Survey no.865/2, Industrial Estate, Medchal Village & Mandal , Medchal-Malkajgiri Dist., Telangana State-501401.

Guarantors/Co-obligants:

a) Sri. Alapati Ramakrishna (Guarantor) S/o Sri Alapati Jayadeo Old address: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, New Address: # Flat no 101 Vamsiram Jyothi Classic Apartments, Filmnagar Co-Operative Housing Society Road No.4 Jubilee Hills, Hyderabad-500033.

b) Smt.Alapati Rama Devi (Guarantor) W/o Sri Alapati Ramakrishna Old address: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, New Address: # Flat no 101 Vamsiram Jyothi Classic Apartments, Filmnagar Co-Operative Housing Society Road No.4 Jubilee Hills, Hyderabad-500033.

2. Sri. Alapati Ramakrishna (Borrower) S/o Sri Alapati Jayadeo, Old address: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, New Address: # Flat no 101 Vamsiram Jyothi Classic Apartments, Filmnagar Co-Operative Housing Society Road No.4 Jubilee Hills, Hyderabad-500033.

Guarantors/Co-obligants:

a) M/s Neeharika Industries Pvt Ltd (Guarantor): Regd. Office: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, Factory Address: Survey no.865/2, Industrial Estate, Medchal Village & Mandal , Medchal-Malkajgiri Dist, Telangana State-501401.

b) Sri. Alapati Rama Devi (Guarantor) W/o Sri Alapati Ramakrishna Old address: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjarahills, Hyderabad-500 034, New Address: # Flat no 101 Vamsiram Jyothi Classic Apartments ,Filmnagar Co-Operative Housing Society Road No.4 Jubilee Hills, Hyderabad-500033.

3. Smt Alapati Rama Devi (Borrower) W/o Sri Alapati Ramakrishna, Old address: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, New Address: # Flat no 101 Vamsiram Jyothi Classic Apartments, Filmnagar Co-Operative Housing Society Road No.4 Jubilee Hills, Hyderabad-500033.

Guarantors/Co-obligants:

a) M/s Neeharika Industries Pvt Ltd (Guarantor): Regd. Office: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, Factory Address: Survey no.865/2,Industrial Estate, Medchal Village & Mandal , Medchal-Malkajgiri Dist, Telangana State-501401.

b) Sri. Alapati Ramakrishna (Guarantor) S/o Sri Alapati Jayadeo Old address: 8-2-469/B-3, Sneha Enclave, Road No.5, Banjara hills, Hyderabad-500 034, New Address: # Flat no 101 Vamsiram Jyothi Classic Apartments ,Filmnagar Co-Operative Housing Society Road No.4 Jubilee Hills, Hyderabad-500033.

Details of the property

“PROPERTY UNDER CONSTRUCTIVE POSSESSION”

All that the land admeasuring 5025.75 Square yards or equivalent to 4202.14 Square Meters and factory building constructed thereon with a built-up area 73066 Square Feet on First, Second and third floor in Survey no. 865/2, situated at Industrial Estate, Medchal Village & Mandal, Medchal-Malkajgiri District and bounded by:

RP/EMD, A/c No./IFSC

Reserve price: Rs.10,62,39,000.00

EMD: Rs.1,06,23,900.00

Payable by way of RTGS/NEFT/DD/PO/Banker’s cheque, favouring Vardhaman (Mahila) Co-operative Urban Bank Ltd, Hyderabad drawn on any commercial bank, along with Tender form in a closed cover.

RTGS/NEFT details:

A/c Name: M/s Neeharika Industries Pvt Ltd- EMD account Vardhaman (Mahila) CO-OP Urban Bank Ltd.
Branch: Banjara Hills A/c No : 101010011000197 ,
IFSC Code: HDFC0CVB010

Outstanding Liabilities:

In the accounts of M/s Neeharika Industries Pvt. Ltd.: Rs.3,96,45,558/- (Rupees Three crores Ninety Six Lacs Forty Five thousands Five Hundred Fifty Eight only and subsequent interest plus charges)

In the accounts of Mr.Alalapti Ramakrishna :Rs.3,21,83,290/- (Rupees Three Crores Twenty One Lacs Eighty Three Thousand Two Hundred and Ninety only plus subsequent interest and charges)

In the accounts of Mrs.Alalapti Rama Devi: Rs.3,20,83,335/- (Rupees Three Crores Twenty Lacs Eighty Three Thousand Three Hundred Thirty Five only plus subsequent interest and charges)

The Deposit of original of title Deed in respect of the above said property is extended to secure the repayment of Dues of above three accounts.

Terms And Conditions of Auction:

1) The above said property will be sold by the Authorized Officer and tender forms can be obtained by the intending buyers from VARDHAMAN (MAHILA) CO-OPERATIVE URBAN BANK LTD., Head Office, 8-2-351/N/1, Nishant house,3rd floor, Banjara Hills, Hyderabad from 22.08.2022 to 06.09.2022, Time:11 A.M to 04.00 P.M

2) For Participating in the auction, the intending bidders have to deposit an amount equivalent to 10% of Reserve price of the property being auctioned on or before 12.00 noon of 07.09.2022 as a refundable earnest money deposit by way of RTGS/NEFT (Details given above) OR D.D./PO/Banker’s cheque drawn on any commercial bank favouring Vardhaman (Mahila) Co-operative Urban Bank Ltd, Hyderabad along with Tender form in a closed cover.

3) The Tender/Auction Sale shall be conducted as per the rules of SARFAESI Act, 2002. the bank reserves the right to conduct the open auction among the persons who participated in Tender Sale or can also postpone the Auction without further communication to Borrowers/Guarantors or anyone. The successful bidder should deposit 25% of the bid amount on the same day/next working day, by way of cash / D.D/pay order/Banker’s cheque; drawn on Nationalized bank inclusive of the EMD amount and balance of the bid amount shall be paid within 15 days from the date of opening of tenders.

4) The successful bidder will be given only Constructive possession of the Auctioned property in “As is where is basis” , “As is What is basis” and “Whatever there is basis” subject to fulfilment of Auction Terms.

5) The successful bidder shall bear all expenses like stamp duty, registration fee, other statutory dues etc., in connection with transfer of Auctioned property.

6) If the successful bidder defaults in effecting payments or fails to adhere to the terms and conditions of the tenders / auction in any manner the amount already deposited will be forfeited and he/she shall not have any claim as such for the forfeited amount.

7) The Authorized Officer shall have powers to accept or reject bids or postpone/cancel/accept/alter/modify terms and conditions of tenders/offer at any time without assigning any reasons therefor.

8) The intending bidders are at liberty to make to their own assessment/enquiry about the property.

9) For inspection of the property, Documents and other particulars the intending bidders may call on phone no. 040-46664777 from 22.08.2022 to 26.08.2022 by 12.00 noon to 4.00 pm.

The Right of Redemption lies up to 30 Days from date of acknowledgement/ publication whichever is earlier

Auction Place, Date and Time:
Vardhaman (Mahila) Co-Operative Urban Bank Ltd.
Head Office: 8-2-351/n/1, Nishant house, 3rd floor, Road no.2, Banjara Hills, Hyderabad-500 034.(T.S).
Phone : no.46664777.
Email: [email protected]
On 07 Sep 2022, from 1.00 pm onwards.

(This may also be treated as Notice u/r 8(6) rule 9(1) of Security Interest (Enforcement) Rules, 2002 to the borrowers/s and guarantor/s of the said loans about the holding of Auction sale on the above mentioning date)

Elections:

Elections were conducted for the Managing Committee of the Bank by the Deputy Registrar of Cooperative Societies, Hyderabad and Election Officer on 11-12-2021 and the list of new Board of Directors is given hereunder.

BOARD OF DIRECTORS

Interest on Deposits

On the basis of suggestions received from many of our valued customers, the following changes have been introduced with effect from 29.02.2016 in the method of payment of interest on Fixed Deposits.

1. Monthly Interest shall be paid on last day of each month.
2. Quarterly Interest shall be paid on 31st March, 30th June, 30th September & 31st December.
3. Half yearly Interest shall be paid on 30thSeptember &31st March.

IMPORTANT PUBLIC NOTICE

RBI has issued fresh guidelines on KYC vide circular no. UBD.BPD (PCB ). Cir no. 23/14.01.062/2014-15 dated 22.10.14 as under :

1. Banks have to give a notice of three months to the customers of accounts which are not KYC-compliant to submit documents required to make these a/cs KYC-compliant.
2. A further period of three months should be given to the customers to complete the process
3. After the six months period is over, the remaining accounts may be rozen”partially’, i.e, credits may be allowed, but debits shall not be permitted.
4. If the accounts remain non-compliant six months after “partial” freeze is imposed, neither credits , nor debits shall be permited and the accounts shall be made “in-operative.

Therefore, all customers of the Bank are requested to contact their branch to find out the status of their accounts.

The following documents are required for making an account KYC-compliant :