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B’pur Coop Bank to hold belated 100th year
When most of the cooperative banks are losing public confidence and reputation due to nonperformance and frequent political intervention, the Brahmapur Cooperative Central (BCC) Bank Limited is all set to celebrate its belated 100th year soon.
A recent judgment of the Court of the Registrar of Cooperative Societies (RCC) has paved the way for observing centenary celebration of the age-old BCC Bank and cheers among employees and management members of the bank and locals as well.
A dispute case (109/2017) was filed in the court at Bhubaneswar by a member of the BCC Bank management committee, Basanta Kumar Pattnaik, praying to direct the BCC Bank and others (defendants) not to observe centenary celebration scheduled for April 2 this year.
Pattnaik had argued that the BCC Bank (Regd. No. J-395) was registered on December 31, 1936 and it was then bifurcated from the “Ganjam District Cooperative Banking Union Limited” on formation of new Odisha Province. The BCC Bank had also observed its silver jubilee in 1961 and golden jubilee in 1986 on completion of 25 and 50 years, respectively, from the registration date. On this account, the bank would observer centenary celebration in 2036.
Pattnaik filed this case as the present managing committee, ignoring the protest of some of its members, took a resolution on October 6, 2016 to observe centenary celebration on the ground that the bank had started on October 8, 2016 (Regd No 1928) under the name “The Ganjam District Cooperative Banking Union Limited”.
The bank argued October 8, 2016 as its foundation date as the assets and liabilities of the “Ganjam District Cooperative Banking Union Ltd” continued to be its assets and liabilities right from 1916 till date. The defendant lawyer took example of the SBI which observed bi-centenary in 2006 though it was originally started as ‘Bank of Calcutta’ in 1806 and re-named as SBI in 1955 only.
The court held, “In view of the fact that the BCC Bank Ltd draws its genesis to the year 1916, i.e. ‘Ganjam District Cooperative Banking Union Ltd, there is no wrong in the decision for holding centenary celebration of the Bank in 201,” and disposed the dispute accordingly.
BCC Bank President Alekh Choudhury informed all these in a Press and alleged that some elements have made a conspiracy to defame the age-old bank. Among others, Secretary Chittaranjan Panigrahi, advocate Niranjan Nepak, Director A Khalli Reddy were present.
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