Media Release

Udupi, Sep 21: Annual General Body Meeting for the Financial Year 2018-19 was held recently at SMS community hall at Brahmavar. In a brief function at the beginning of the meeting, 19 outstanding children of the members of the society, who obtained more than 85% marks in the final examinations of PUC, CBSE and SSLC held in March/April 2019, were felicitated with total awards worth Rs 68,000.

The society has completed another successful year of operation. It had a total turnover of Rs 71.22 crore in the year and had earned a net profit of Rs 17.72 lakhs. It has declared a dividend of 12 percent to its members. It had a fairly good loan recovery of 99.49 percent with a overdue loans of 0.51 percent which was less than the previous year (0.76%). The society has been classified in “A” grade in annual audit for its excellent operational parameters.

The meeting was presided over by the president of the society, Valerian Menezes, who welcomed the members and presented brief annual administrative report. Secretary Sanjay Fernandes read out the proceedings of the last year’s general body meeting. Director Godwin Denis Fernandes rendered the vote of thanks. Director Jerald M Gonsalves compered.

The directors of the society Gilbert Rodrigues (vice president), Josphine Lewis, Vincent Almeida, Job Lewis, Jascintha A M Serrao, Cyril Abraham D’Souza, and Bonifas Mascarenhas were present.