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NOTICE OF 1st SPECIAL GENERAL MEETING

Notice is hereby given that the 1st Special General Meeting of shareholders of the Bank will be held on Tuesday, 24th November 2020, at 4.00 p.m. at Head Office 3rd Floor, Nishant House, 8-2-351/N/1, Road No: 2, Banjara Hills, Hyderabad - 500 034 to transact the following business.

  1. To approve Board resolution recommending the appointment of CEO subject to approval from RBI.

All shareholders are requested to attend the Special General meeting on the appointed date, time & place. The members can also join through Video conference (VC)/Other Audio Visual Means (OVAM). The Government guidelines prevailing on the date due to COVID 19 pandemic will be applicable for physical attendance.

Date: 05-11-2020
Place: Hyderabad.
By order of the Board of Directors
-sd/-
Chief Executive Officer

Note:

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



Share Allotment Policy

Considering the capital requirement of Bank for the financial year 2020-21, it was approved in the 48th General Body Meeting dated 20.02.2020 to open share allotment from 24.02.2020 to 31.03.2020. The terms of the issue are as under:

  1. Share issue will open from 24.02.2020 and shall close on 31-03-2020.
  2. The authorised capital of Bank remains at Rs.50.00 Crores.
  3. Bank reserves the right to foreclose the scheme, even before the date, if the paid up capital of the Bank reaches a higher level at any point of time.
  4. The ceiling limit of number of shares per member is 20,000.

Allotment of Fresh Shares

Additional Shares to Existing members:

i. Male and Female members can apply upto 50% of their shareholding.

ii. Existing Small Shareholders can increase shareholding up to 500 Shares.

Fresh Shares:

Shares will be allotted to female customers placing fresh term deposits for at least one year. The allotment of shares will depend on the amount of term deposits placed as under:

Deposit amount

No. of shares for allotment

Minimum Rs.5.00 Lacs

Up to 3000 Shares

Above Rs.5.00 Lacs to Rs.10.00 lacs

Up to 6000 Shares

Rs.10.00 lacs and above

Up to 10000 shares

The shares will be issued to female applicants only. The male applicantscan be allotted shares if application is made in the ratio of 3:1 of female and male and on discretion of the Board.

Loan linked shares can be issued 2.50% of loan amount subject to minimum of 12 shares and maximum of 5000 shares.

General Terms & Conditions to all applicants (existing & fresh):

  1. Face value of each share is Rs.25/- and issued at par.
  2. Maximum shareholding per member under any of the above categories shall not exceed 20000.
  3. The percentage of male members shall not exceed 25% of the total members.
  4. Any allotment of shares are subject to KYC compliant SB / CA a/c of the applicant including existing member.
  5. Staff and their family members are not eligible for allotment of shares.
  6. Chief Executive Officer with the approval of the Chairman is having discretion to deviate with the above norms on a case to case basis.



POSSESSION NOTICE

(UNDER RULE 8(1) AND (2) (FOR IMMOVABLE PROPERTY)

WHEREAS the undersigned being the Authorized Officer of Vardhaman (Mahila) Co-op. Urban Bank Ltd. under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and in exercise of powers conferred under Section 13(12) read with Rule 3 of the Security Interest (Enforcement) Rules, 2002 issued Demand Notice dated 09.10.2019 calling upon the Borrower M/s Impact Metal Parts Private Ltd Managing Director: Mr.Gorrepati Ramachandram Slo Late G.V.Subba Rao, Directors: Mr.Gorrepati Venkata Rao S/ o Late G.V.Subba Rao, Mr.Bhogavalli Trinadha Rao Slo Gangaraju Bhogavalli and Guarantors Mr. Gorrepati Ramachandram Slo Late G.V.Subba Rao, Mr. Gorrepati Venkata Rao Slo Late G.V.Subba Rao, Mr.Bhogavalli Trinadha Rao S/o. Gangaraju Bhogavalli and M/s Impact Metals Limited to repay the amount mentioned in the notice being Rs. 3,34,44,578.00 (Rupees Three Cores Thirty four Lacs Forty Four Thousand Five Hundred And Seventy Eight Only) within 60 days from the date of the said Notice with subsequent interest thereon from 01.10.2019 with monthly rests.

The above named Borrower and Guarantors having failed to repay the amount despite the receipt of the above referred statutory notice, Notice is hereby given to the above said Borrower and Guarantors in particular and the public in general that the undersigned has taken possession of the property described herein below in exercise of powers conferred under Section 13(4) of the said Act read with Rule 8 & 9 of the Security Interest (Enforcement) Rules 2002 on this 16th day of January' 2020.

The above named Borrower and Guarantors in particular and the public in general are hereby cautioned not to deal with the property and any dealings with the property will be subject to the charge of Vardhaman [Mahila] Co-op Urban Bank Ltd for an amount of Rs. 3,34,44,578.00 (Rupees Three Cores Thirty four Lacs Forty Four Thousand Five Hundred And Seventy Eight Only) plus interest from 01.10.2019 and expenses thereon.

DESCRIPTION OF THE IMMOVABLE PROPERTY MORTGAGED PROPERTY OWNED BY M/S. IMPACT METAL LIMITED

All that the Land measuring 15004 Square Yards or Equivalent to AC.3-04 Guntas or AC.3-10 Cents with RCC Built up area of 2000square feet & ACC Shed of 36000 square feet in Survey No.296/7/4 situated at IDA, Bollaram Village and Gram Panchayat, Jinnaram Mandal Medak District belonging to M/s Impact Metals Limited and bounded by:

North : Tank South : M/s. Standard Organics Private Ltd.
East : Road West : Neighbour's Land & M/s. A.P. Met Engg. Ltd.
Date: 16.01.2020
Place: Hyderabad
Sd/-
Authorized Officer
VARDHAMAN (MAHILA) CO-OPERATIVE URBAN BANK LTD.



Elections:

Elections were conducted for the Managing Committee of the Bank by the Deputy Registrar of Cooperative Societies, Hyderabad and Election Officer on 09-12-2016 and the list of new Board of Directors is given hereunder.

BOARD OF DIRECTORS

1) Sri.  Shantilal  Daga,    F.C.A - Chairman
2) Smt. Nirmala   Daga - Sr. Vice Chairperson
3) Smt. Rajkumari  Chordia - Vice  Chairperson
4) Smt.Chayya  Golecha - Director
5) Smt. Dr.Asha  Khivsara - Director
6) Smt. Chhaya  Lohade - Director
7) Smt. Vidya  Jain - Director
8) Smt. Nirmala  Bermecha - Director
9) Smt. Pushpa  Sancheti - Director
10) Smt. Sangeeta  Jain - Director
11) Sri.  Shantilal  Khimji  Shah - Director
12) Sri.  P. P. Singhvi,   F.C.A. - Director
13) Sri.  Tushar  Savla,  F.C.A - Director
14) Sri.  Jugraj  Jain - Director
15) Sri.  Mahender Kumar Jain Golecha. FCA - Prof. Director (Co-opted)
16) Sri.  Madan  Chand Jain Lunawat - Prof. Director (Co-opted)



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 :

Documents required as Id and/or  address proof

Documents

Accounts of individuals
• Legal name and any other names used (ID-proof)

 

 

 

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  • Correct permanent address ( Address-proof )

(i) Passport (ii) PAN card (iii) Voter’s Identity Card (iv) Driving licence(v) Identity card (subject to the bank’s satisfaction) (vi) Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank (vii) Job cards issued by NREGA duly signed by an officer of the State Government (viii) The Letter issued by the Unique Identification Authority of India containing details of name, address and Aadhar number or any other document as notified by the Central Government in consultation with the Reserve Bank of India or any other document as may be required by the banking companies or financial institution or intermediary
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(i) Telephone bill (ii) Bank account statement (iii) Letter from any recognized public authority(iv) Electricity bill (v) Ration card(vi) Letter from employer (subject to satisfaction of the bank)

(any one document which provides details of both Id and address  to the satisfaction of the bank will suffice )

Accounts of companies
• Name of the company
• Principal place of business

•    Mailing address of the company
• Telephone/Fax Number

(i) Certificate of incorporation and Memorandum & Articles of Association (ii) Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account (iii) Power of Attorney granted to its managers, officers or employees to transact business on its behalf (iv) Copy of PAN allotment letter (v) Copy of the telephone bill

Accounts of partnership firms
• Legal name
• Address

(i) Registration certificate, if registered(ii) Partnership deed (iii) Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf (iv) Any officially valid document

Accounts of propritorship firms
• Legal name
• Address

Any one of the undernoted documents to be obtained. as Identity and address proof of the proprietor

 (i) Passport, PAN card, Voter ID card, Driving licence, Ration Card with photo, etc.

Any two of the undernoted documents to be obtained. as Identity and address proof of the proprietary concern

 (ii) Registration certificate (in the case of a registered concern), certificate/ licence issued by the Municipal authorities under Shop & Establishment Act, CST/VAT certificate/ return, complete Income Tax return ( not just the acknowledgment  ) of the sole proprietor where the firm’s income is reflected, duly authenticated / acknowledged by the Income tax authorities, utility bills such as electricity, water and landline telephone bills in the name of the proprietary concern, Licence issued by the Registering authority like Certificate of Practice issued by Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc.

 



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