Vikas Maitri
Voluntary Development Society in Jharkhand
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www.vikasmaitri.org |
website for rural and tribal development |
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Vikas Maitri |
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Voluntary Development Society in Jharkhand |
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Annual General Meeting 2009 Directors' Report
You may be aware our company was founded in the year 1997. Its first Annual General Meeting was held in the registered premises on 6th October 1998. It is a pleasure to report you that the Adivasi Community as per the objectives of the company has been mobilized in the new world of business enterprise. This is surely an indicator of a turning point in social change. For this, we have made special efforts to motivate and educate adivasis. Initially we ourselves had to learn the skill and practices of business management under strenuous conditions. It is satisfying to note that adivasi community is increasingly attracted towards this profession. Till today the company was making progress but was unable to earn profits. I am proud to declare that from 2008-2009 our company has made a profit. This could be a basis of future programmes and action. Another difficulty encountered in the conducting of business was that it was done by part time workers of Vikas Maitri which is a voluntary organization. The company was neither paying them salary nor any facility. They were unable to devote themselves fully as they had other work to do. To resolve this situation Vikas Maitri and Adivasi Panch Bachat Ewam Niwesh Limited (APBEN) have decided to pay the salaries of this workers from the company account. I am pleased to inform you that after the adoption of this policy APBEN Ltd. is doing quite well. At present the company has three main business activities - retailing and sale, deposit from members and education. In comparison to the business of previous year the sale activity has increase to 72%. Collection of deposit also increased by 14% and share capital increased by 30%. I like to again go back and enlighten you about the objectives of our company. The main objective of APBEN Ltd. is to organize and empower the people of Jharkhand. Whatever money is being raised this way is exclusively invested within Jharkhand generating employment opportunities. Co-operation with Vikas Maitri I like to thank Vikas Maitri for all the help in the initial years. The company was floated under the supervision of Vikas Maitri. I like to thank very specially the Board Members of Vikas Maitri and the staff who despite not receiving salary contributed to the progress of business of APBEN Ltd. What the company needs now is to make profit. As earlier said the company from now onwards is managed by paid workers. Our cooperation with Vikas Maitri in this way will strengthen much more, I believe. Expansion of Business The main business of APBEN Ltd. at the moment is retail business. Till today we have sold goods worth Rs. 3,356,404.00. The turnover of sale is increasing every year. In 2007-2008 the sale amount was Rs. 603,195.00. This went up by Rs. 1,036,397.00 in the year 2008-2009. This is a good sign. Position of share We have applied to Government twice for Authorized Capital. At present our Authorized Capital is Rs. 1,000,000.00. However the paid capital is Rs. 782,810.00. We are still to allot share up to Rs. 217,190.00. Deposit by Members Up till today our members have deposit amounting to Rs. 14,538,829.00. In the first year the deposit started with Rs. 545,650.00. This year the deposit reached Rs. 2,124,071.00. Interest paid on deposit We have provided may facilities to our members among them banking at their own courtyard was quite successful. We have also provided capital and goods to members for carrying out their own business. Though we have not been able to distribute dividends (except for one year), the total interest paid amounted to Rs. 1,209,128.00. Our members are happy about this income. Motivation towards business Besides the business activity, one of our very important programme was training of a large number of young people in micro business management. I am glad to inform you that more than 1000 candidates have been trained, some of them starting business activities on their own. Many of the young men are working as commission agents and thus earning livelihood for themselves. I thank all the share holders for their cooperation and specially for the partnership in business. With best wishes. For the Board of Directors Faithfully, Dominic Bara Date: 18.09.2009
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