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Dear Share-holders,
I extend you a warm to this 7 th annual General Body Meeting of our Society being held here in the premises of City Civil, Court. I take the opportunity of placing before you, the 7 th Annual Report of our Society along with Auditor’s Report for the financial year ending 31 st March, 2006.
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| We, in the Society believe that perfection is never a destiny but always a goal. Our aim is to achieve the goal and leave it as a milestone. Then again perfect our selves to achieve greater goals and leave them behind as greater milestones. Over the years, it has become a habit for us to break old records and establish new ones. In the year 1999-2000 we have made a humble beginning with a modest profit of Rs. 1,110/- and now in the year 2005-2006, true to our belief, we are proud to declare a net profit of Rs. 50.90 lakhs. Indeed! We are proud to cross a memorable milestone of Rs.50 lakhs this year. This fantastic achievement could not have been a possibility without your unstinted support and co-operation. I congratulate all of you on this splendid achievement! I implore upon you to continue this support and co-operation, and we shall translate that into your own welfare and the welfare of our fraternity. |
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| In the previous year, we have introduced one welfare scheme in the shape of Group Mediclaim Policy of Rs.20, 000/- for each member and last year from this very platform, we have promised to improve this welfare scheme by proposing to include the nominee / spouse of the member and also promised to enhance the sum assured of life insurance policy amount from Rs. 1, 00,000/- to Rs. 2, 00,000/- depending upon the availability of funds. |
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| We are glad to announce that true to our promise, we have improved the Mediclaim policy from Rs.20, 000/- to Rs.25, 000/- for both member and nominee with pre-existing diseases. We provided the life insurance coverage from Rs.50, 000/- to Rs.2, 00,000/- depending upon the individual share holding. |
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| During the year under report, the Board of Directors have met 19 times and constituted two committees consisting of (i) Staff and Business Development Committee, (ii) Stationery, Accounts and Audit Committee for smooth and better functioning of the Society. |
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| I am glad to inform you that the performance of our Society during the year 2005-2006 has been quite satisfactory. The highlights of the performance of our Society in the financial year 2005-2006 as compared to financial year 2004-2005 are as follows: |
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Number of share holders increased from 1207 to 1549 (net increase of 342) with a growth rate of 28.33% |
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Share capital has increased from 37.49 lakhs to 83.02 lakhs (net increase of 45.33 lakhs) with a growth rate of 121.44% |
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