| Dear Cooperative Friends, |
I am pleased to welcome all representatives of co-operative milk societies associated with the Union present in the 59th Annual General Meeting of the Union and present before you the Annual Accounts of the year 2009-10 and Audited Report duly approved by the Board of Directors and certified by Auditor.
World is under the cloud of recession. Business of every sphere is affected by extreme
recessional wave. So, due to rising unemployment, bread of the people is getting seized.
And price of essential commodities are touching sky-high level. As a result, it has become
very difficult to link two ends for common people. Under such unspeakable and agonizing
circumstances, our cattle population has maintained the stable smile on the faces of our
cattle owners in the villages. In brief, I want to say that we could bestow the courage and strength to run the livelihood to our resourceful cattle owners in this time of recession; for which I bow to the almighty God. I heartily congratulate all honorable milk producers of the district, consumers, well wishers and employees who are responsible for unique and eyeful progress of the Sumul Union. |
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Union Membership : |
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Number of Primary Milk Producers' Co-operative Societies affiliated with the Union is 633 at the end of accounting year. |
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Board of Directors: |
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In view of the Board of Directors' term up to the 30th June 2009, proposal for further
action for conducting the election for coming three years has been sent to the Collector through the District Registrar, as per provision of the Co-operative laws and the Deputy Collector (Choriyasi Prant) has done the election procedure. The newly elected team of Board of Director will continue up to three years. |
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Business and Financial Position : |
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The total turnover of the union is Rs.900 Crores which is 13.83%
means 110 Crores more than previous year. Union has made Rs. 2,30,35,767 net profits after providing Rs. 620 Lacs for depreciation, Rs. 60 Lakhs for Income Tax provision, at the end of the financial year 2009-10.
Board of Directors has recommended distributing 15% Dividend, within the limit of provision in Cooperative
Act. |
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Audit : |
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Audit procedures of milk producing societies and the Union are governed by the audit board appointed by the state government under continuous and concurrent audit
scheme. |
