Annual Report 2015-2016 - Janseva Cooperative Credit ... Report 2015-2016 GROWTH TRENDS Branches...
Transcript of Annual Report 2015-2016 - Janseva Cooperative Credit ... Report 2015-2016 GROWTH TRENDS Branches...
Annual Report 2015-2016
GROWTH TRENDS
Branches
Share Capital, Deposits and Reserves
Loans Advanced
Annual and Total Turnover
Members & Accounts
G. PRODUCTIVITY & SUSTAINBILITY
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JANSEVA IN BRIEFName
Area (States) ofOperation
Management
JANSEVA COOPERATIVE CREDIT SOCIETY LTD.
Andhra PradeshDelhiMaharashtraTamil Nadu
BiharKarnatakaOrissaUttar Pradesh
ChattisgarhMadhya PradeshRajasthanWest Bengal
1. General Body of Janseva elects BOD (Boards of Directors), which inturn appoints Executive Committee (EC), Regional supervisory Boards (RSB)Area Managing Board (AMB and Committee for special task like investmentand social banking yet.
2. CEO, functional directors and full time (support) staff manages the affairs
of the Society.
Laws Governing the Society 1. Multi-State Cooperatives Societies (MSCS) Act 2002;2. MSCS Rule 2002; &3. Bye-laws of the Society.
4. Rules framed by BOD of the Society.
Registering Authority Central Registrar of Cooperative Societies, Department of Cooperation, Ministry of Agriculture, Govt. of India.
Dr. Rahmatullah Abdul Ahad
Registration No. with Date MSCS/CR/335/2010 / 15th March 2010
Authorized Share Capital
Chief Promoter
Rs, 10,00,00,000
Registered Office Address AICMEU, Vazir Building, 1st Floor, 179, I.R. Road, MumbaiMaharashtra Pin - 400 003
Administrative Office Address 7/25-A, 2nd Floor, Grants Building, 17, Arthur Bunder Road, ColabaMumbai, Maharashtra Pin-400 005
PAN AAAAJ7811P
TAN MUMJ15027F
Accounting Software Smart Credit by Bhoomi Infosolutions Pvt. Ltd./ SNS System Pvt. Ltd.
Shriah Advisor/Board Shariah Advisory Board will be appointed in due course.
Auditors
Central Auditor
Pandey & Co.Darbhanga
Abu Kalam & CoMaharashtra Region
Peter Jaya Rao & Co.,Mysore
R. VenugopalanVaniyambadi
Riffai & Co.Chennai
Shridhar AithalUdupi & Gangolli
Bankers
SBI RBL Bank Axis Bank Union Bank Of India Bank Of Baroda Karur Vysya Bank SBH ICICI Federal Bank
Canara Bank Indian Overseas Bank. Akola Urban Bank Lokhit Urban Co-op. Cr. Soc. Ltd. Canara Bank
S M Athar & Co.
Bhadohi
Mohammed Hidayathullah & Co.Bangalore
Pal & Roy Co.Kolkata
(MULTI-STATE INTEREST FREE)
Sheikh Jahangir &Associates
R.N. Singh & Co.Gaya
Abusali Siddique & Associates
Tirunelveli & Kayalpatnam
(includes Hyderabad)
BMC Muslim Cooperative Bank Ltd. AICMEU’s Baitulmaal Co-op. Cr. Soc. Ltd. Indian Bank
Participatory solution of Financial Problem Participatory solution of Financial Problem
Participatory solution of Financial Problem Participatory solution of Financial Problem
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NOTICE OF AGM
Honorary Board of Directors
Diamond Club Members
3-Dr Rahmatullah
Chairman
11-Dr. M. Z. KirmaniAligarh (UP)Director
7-Mr. Saiyed. Hasan Akbar
Director :Social media Lucknow UP
4-Mr V. Atheequr RahmanVaniyambadi (TN)Dy. Managing Director
10-Dr. Shaikh M.Ismail Mumbai (MS)
1-Mr. H B NawabPune (MS)
Managing Director
2-Mr S. Ahamed MeeranChennai (TN)Vice Chairman & HR
9-Mr. M.Shah AlamKolkata (WB)Director
6-Mr. Syed Zaheer AhmedMysore Director - Micro Finance
8-Dr. M I BagsirajBelguam (KA)Director : ERT
Director
Mumbai (MS)
Notice is hereby given that 7th Annual General Body Meeting of the Janseva Cooperative Credit Society Ltd. is scheduled to be held on Saturday June 04, 2016 at 3.30pm.The The Venue Of The Meeting Is Aicmeu's J R Career Center, First Floor, J R Urdu Municipal Secondary School, Dharamshala Road (next To Diamond Jubli Girls School), Mumbai 400 009
The agenda of the meeting is as below;
th th1-To read and confirm the minutes of the 6 AGM held on 14 June 2015.2-To consider, adopt and approve the annual work report along with the financial statement of the society for the year 2015-16as forwarded by BOD.3- To approval for disposal of net profit.4- To approval utilization of reserve funds. 5- To consider, adopt and approve the Annual Work Plan and budget for the year 2016-17.6-To receive, consider and adopt the amendments in SOP, Operational Manual, and Roadmap for establishing a new branch andH R Policy as formulated and finalized by EC & BOD.7- Appointment of chartered accountant for the year 2016-178- Any other matter with the permission of the chair.
Dr. Rahmatullah
Hon. Managing Director
Note- If the quorum is not complete on appointed time; meeting shall stand adjourned for half an hour.The
meeting will be held at 4pm at the same venue and transact the listed business for which no quorum will be
required.
and Promotion
5-Mr. Ibnu SoudChennai (TN)Director : Finance
12- Mr. Iqbal AhmedBangalore (KA)Director
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1-AICMEU’s BaitulmaalCooperative Credit Soc. LtdMumbai
2-Mr. V. Atheequr RahmanVaniyambadi
5-Mr. Arab Mohd BurhanLuqmanAkola
6- Mr. Khan Liyakat AliMumbai
3-Mr. Abu Asim AzmiMumbai
4-Mr. Sulaiman ImtiyazAhmedChennai
Bhadohi8-Mrs. Shakeela N. AnsariBhadohi
9-Mr. Iqbal AhmedBangalore
10-Mrs. Noor Jehan IqbalBangalore
11-Rab Nawaz ShaikhBangalore
7-Mr. M. Naseem Ansari
12- Mr. S Ahamed MeeranChennai
13- Wasim AkhtarRourkela
14- Mohamed Yasin Lalpettai
13- Mrs. Mumtaz ShaikhMumbai (MS)Director
14- Mr. Afzal PadelaParbhani (MS)Director
15- Mr. M. Nasim AnsariBhadohi (UP)Director
16- Dr. Jawed ZulqarnainDarbhanga (Bihar)Director
17- Mr. Mujeeb SikanderUdupiDirector
18- Mr. Mujtaba FarooquiAurangabadDirector
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MANAGING DIRECTOR REPORT
A. PROMOTIONAL AND INSPECTION VISITS
B- BRANCHES
C- MEMBERSHIP
D- DEPOSIT ACCOUNTS
Dear Members,
Peace be upon us all
I, on behalf of the Board of Directors, welcome you all at the 7thAnnual General Body Meeting of the society. It
is my pleasure in presenting before you the annual report along with the audited accounts of the Society for the
financial year ended 31st March 2016 for your kind consideration and approval. At this occasion let us first
thank to Allah Almighty for the opportunity He gave us to serve the cause of humanity by way of promotion and
practice of interest free financial system in this country.
Members of the board and head office staff undertook various visits for promotion of Janseva message,as well as training of the staff and audit guidance of existing branches, In all a total of 60 visits were undertaken coveringplaces like Gangoli, Udupi, Mysore, Bangalore, Delhi, Bhadohi, Kolkatta,, Hyderabad, Nasik, Nanded, Parbhani, Akola, Madurai, Tirunessslveli Rourkela and Aurangabad.DrRahmatullah, Mr. H.B. Nawab, Mr. Atheequrrahman, Mr. Syed Hasan Akbar, Dr. Ismail Shaikh, Mr. AhamedMeeran, Dr M I Bagseraj, and MrAbdur Rahman in particular undertook these visits. It is understood that many other Janseva members have also visited to their neighboringplaces for promotional purposes.
During the last fiscal, one extension counters at Mysore viz. Hunsurhas been granted the status of afull-fledged
branch. Moreover four branches one each at Madurai (TN), Lalpettai (TN), Delhi, Rourkela (Odisha), have been
established. This makes the total number of branches as 30, showing the growth of approx 20 percent. In
addition to this, five extension counters of Vaniyambadi branch at Perambut, Tripattur, Vellore, Krishnagiri and
Ambur are also in operation. These extension counters have potential and therefore are likelyto convert into a
full-fledged branch status in future.
The membership of the society in the last year has increased from 17062 to 20449 registering a growth
ofapprox. 20%. As per new directions of the Central Registrar, deposits cannot be accepted from Associate
members hence enrollment of new such members has been stopped. Moreover previously enrolled such
members are being converted in to ordinary members allotting minimum one share. This has reduced the
growth in enrollment of new members. However membership is granted in various categories of General
member, Silver club member, Gold club and Diamond club members have registered the growth in these
categories works out to be 20%, 16%, 34% and 17% respectively. State wise comparative figure shows thatin the
number wise growth, Maharashtra tops the list followed by Tamil Nadu and Karnataka. Howeverpercentage
wise increase shows Tamil Nadu at the top followed by Maharashtra and Karnataka.
As per the current policy, every member is required to open an account and save some money with the society.
However it is observed that only18,044 members have opened the account showing a growth of approx. 23
percent. Whereas 2405 members have not yet opened the account. Branch wise account status detail shows
that highestnumber of account holders are found with Vaniyambadi branch (4131) followed by Parbhani(1653),
Aurangabad (1669), Mumbai (1651). It may be noted with serious concern that as per policy all other branches
of the society have yet to reach the minimum targetof 500 accounts essential for financial stability
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E. FINANCIAL STATUS
1. SHARE CAPITAL
2. DEPOSITS
. Still more serious concern is that while Chennai has shown zerogrowth, a negative growth trend is observed in case of Udupi .This seems to be high time that we must make efforts to ensure positivegrowth and persuade every existing member to open at least one JAF and one JMIF accounts in the society. Furthermore make more efforts to reach to large number of people, enroll them at least as General members andopen their accounts for savings purposes in the operational states of M P, Chhattisgarh, Orissa, Rajasthan andDelhi. This requires special attention of the members to extend the facilities of the society by enrolling
The total working capital of the society comes from subscription of shares, deposits, soft loans and grants andgifts. Society has yet to strive to get soft loans that can enhance the financial facility to the members. As per the audited statement the total assets of the society has increased from Rs. 16,45,52,403 to Rs 213,910,000. This shows the overall growth in thefinancial status of the society to the tune of approx. 30 percent.
The total subscribed share capital has increased from Rs. 4,17,84,200/- to Rs. 5,25,55,800/- showing an increase
of approx 26 percent. The highest positive change in share subscription has come from the state of Tamil Nadu
followed by Maharashtra, and Karnataka.
The total deposits mobilized during the current fiscal from the members of the society has increased from Rs
12,04,75,791/- to Rs. 15,63,13,874/-. This shows the approx. growth in deposits equivalent to approx 30
percent. It may be noted that these deposits basically comprise of Janseva Amanah Fund (JAF) deposits
(Demanddeposits) and Janseva Members Investment Fund (JMIF) deposits (Term deposits). With this
bifurcationdemand deposits has registered a growth of 37 percent and term deposits registered a growth of 12
percent. The branch wise record shows that Vaniyambadi branch is found as highest deposit mobiliser followed
by Udupi, Gangolli, Mumbai,andAurangabad branches.
F. LOAN AND ADVANCES
During the last fiscal it was decided that credit vs. business investment based operation ratio shall be 30:70. As aresult, society has advanced general purpose loan to the tune of Rs 6,53,31,889/- (29%) and business purposeloan to the tune of Rs 15,91,33,723/- (71%) with total outstanding loan balance Rs 16,96,97,362/- only. This show an approx growth of 46percent only over the year. Further the general credit vs. business loan ratioworks out to be approx. 29:71 which would have been 30:70 as mentioned above. However higher business vs. credit based operation is likely to relieve the society from service charge levy and collection practice which ispermissible but not desirable. The branch wise classification of total general purpose loan advanced shows that Vaniyambadi (1,87,74,525) Aurangabad (1,10,83,000), Gangoli (62,45,000), Parbhani (57,21,000),Kayalpatnam (57,09,000)) are the highest loan providers. Similarly classification based on business loan advanced, Vaniyambadi (3,54,05 200) provided business loan It may be noted that Vaniyambadi stands on the top on account of huge fund provided by HO and other branches Mumbai (2, 01,65,580) , Bangalore ( 1,81,02,785 ), Trinulvelli(1,24,42,806), Gangoli (1,13,12,350) , Mysore ( 93,14,448) are the top loan provider. .
NPA
Non-Performing assets are generally part of the lending business. However it has not yet been reported andrecorded in this report. Hopefully NPA's are expected to be nil or negligible in view of loan policy of providing 80percent of the loanable funds against 100 percent security. NPA's are features of and mainly associated with unsecuredloans Moreover there is no cause of much worry as 5% likely NPA is mitigated with internal insurance reserve system. However with growing loan business it has now become essential that we conduct branch wise detail study of actual NPA's so that, if required, urgent and immediate action should be taken for correction. Needless to say that it is NPA's which carry potential threat to the existence of any financial institutions operating in different modes.
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Economy,Efficiency and Effectiveness are the three basic parameters which signal the success as well as strength of any objective based organization. To judge our operation,calculation and comparison between the cost of fund mobilsation and fund management and income earnedfrom the use of available funds have been made. Further in view of regular and contractual staff it has been difficult to reach at and reveal efficiency measure. Finally effectiveness t requires a field survey among the people of the hinterland of the branches, which has not been made. However based on available data an analysis is made shows that;1-In this fiscal per rupee cost of mobilization and management per annum is found as Rs 0.086 whereas the per rupee revenue earned is 0.098 showing a surplus of Rs 0.012 .This is in comparison to last year's per rupee revenue of Rs 0.113 in comparison to cost of Rs 0.097 showing a surplus of Rs 0.016 It implies that per rupee revenue this year has fallen down from 0.113 to 0.098 ie. a decline in revenue per rupee equivalent to 0.012. However positive change is observed as per rupee cost of mobilization and management has fallen down from 0.97 to 0.086 ie by 0.11 It may noted that while fall in revenue is caused due to reduced rate of service charges on general purpose loans and non optimal use of available fund. It would not be inapt to say that had the branches followed SOP with reference to cash to be maintained for withdrawals, we would have earned approx Rs 6,34,245 ( 5% of Rs 13268491) as service charge or Rs 15,92,218 as mark up price based profit.However under the given situation, sharing profit with investment depositors and dividend of shares @ 5% is indicator of migration from charity to productivity2-Total regular employees are reported as 88 during this fiscal. Per employee revenue is found as Rs 2, 46,140 per annum which shows a decline of 21 percent over theyear. Similarly the cost per employee per annum is found as Rs 2,10,316 which is less than 58,119 I,e 21.67 percent declineover the year. Again it implies that productivity per employee has led to decimal increase.3- Effectiveness of the society is indicated from the growth rate in terms of membership, branches, funds mobilized and used. As noted above, the society has shown positive and upward trend to the tune of over 20 percent in almost all the fields. Moreover efforts to professionalize the managementare likely to boost the effectiveness of the organization at a larger scale. Moreover abolition of Service Charges on General Loans in days to come will make the society unparalleled in the field of Interest free banking in the country.
Reserves and surplus indicate the caution to bear the jerks in operation. It may be noted that society is able tocreate and hold higher and higher reserves year after year. During the last fiscal, the society has created areserve of Rs22,92,412/- which has increased by Rs. 50,40,325 showing a growth of 119.87 percent. This increaseis witnessed on account of creating IRMF in addition to admission fees, CRMF and surpluses. With increasingoperation, reserves are likely to increase fastly enhancing the capacity of the society to bear the operationaljerks.
H. RESERVE AND SURPLUSES
G. PRODUCTIVITY AND SUSTAINLIBITY
I. DIVIDENDS AND PROFIT
The branches of the society have continued to share profit with members accounting to 2 to 11 percent of JMIF
deposits in this year also. Moreover on account of increase in business basedoperation and distributable earnings
society proposes to declares5 percent dividend on the subscribed sharecapital received by the society on or before
December 31, 2015. Further it is proposed that the current surplus of Rs. 7,564/- be transferred to reserve entitled as
ORMF.
J. TRANSACTION AND TURNOVER
Financial transactions show the trust and credit worthiness of the society in the eyes of the members. It may
benoted that financial transaction of the society has increased immensely during the year. The annual turnover
during the year is recorded as Rs. 1, 68, 09, 92,268/-which shows a growth of approx. 6 percent during the year.
Similarly the cumulative turnover in the last years is recorded as Rs 4,41,34,03,329/- shows the increase in
turnover as 62 percent It may benoted that total amount wise turnover has ever been on increase but the
percentage growth seems declining.
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AUDITOR’S REPORT AND AUDITED FINANCIAL STATEMENTS
a. Auditor’s Report
To,The MembersJanseva Co-op Credit Society Ltd.MumbaiReport on the Financial Statements1. We have audited the accompanying financial statements of the Janseva Co-op Credit Society Ltd. which comprise the Balance Sheet as at 31st March, 2016 & Income and Expenditure Account for the year ended on that date along with the branches audited by us except for the period from 01st April, 2015 to 31st March, 2016.Management's Responsibility for the Financial Statements2. Management is responsible for the preparation of these financial statements in accordance with the Multi State Co-operative Societies Act, 2002 and Rules made there-under. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.Auditor's Responsibility3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the applicable Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements, whether due to fraud or error.4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Bank's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances.
K- MEETING: MANAGEMENT, TRANINGS AND PROMOTIONAL EFFORTS
Five meetings of the BOD on dated 14th June 2015 at Mumbai with attendance of 53 percent members, second
meeting on at 8th & 9th August 2015 at Mumbai with attendance of 35 percent members, third meeting on 27th
October 2015 at Mumbai with attendance of 41 percent members, fourth meeting on 14th Feb 2016 at Mumbai with
attendance of 41 percent members and Fifth meeting held on 19th March 2016 at Madurai with attendance of 7
percent members have been held. It may be noted with concern that attendance of members in the meeting is seen as
unsatisfactory warranting consideration of all absentee members of the BOD. Further two meetings of the EC on 13th
June 2015 and 19th March 2016 at Mumbai and Madurai respectively.
During the last financial year we conducted 4 training program at Nanded, Bhadohi, Bangalore and Tirunelveli these
meetings in general discussed the ongoing work, operational training to AMB and managers and feedback and
suggestions for the BOD.
L. STANDARD OPERATING PRACTICES/PROCEDURES (SOP)
As per the decision of the BOD, a new Road map for establishing a new branch of the society and a SOP forguidance of
existing AMB and Managers in operation on day to day basis has been prepared for grant andapproval of BOD and AGM
s/dDr RahmatullahChairman
An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.Opinion6. In our opinion and to the best of our information and according to the explanations given to us, the said accounts together with the notes thereon give the information required by the Multi State Co-operative Societies Act, 2002 and rules made there-under, in the manner so required for the Urban Co-operative Banks and give a true and fair view in conformity with the accounting principles generally accepted in India:(i) in the case of the Balance Sheet, of the state of affairs of the Bank as at 31st March, 2016;(ii) in the case of the Income and Expenditure Account of the profit for the year ended on that dateReport on Other Legal and Regulatory Matters7. The Balance Sheet and the Income and Expenditure Account have been drawn up in accordance with the provisions of the Multi State Co-operative Societies Act, 2002 and the rules made there-under.8. We report that:(a) We have obtained all the information and explanations which, to the best of our knowledgeand belief, were necessary for the purpose of our audit and have found them to be satisfactory.(b) The transactions of the Bank, which have come to our notice, have been within the powers of the Bank.© The returns received from the offices and branches of the Bank have been found adequate for the purposes of our audit.9. In our opinion, the Balance Sheet, the Income and Expenditure Account comply with the Accounting Standards issued by Institute of Chartered Accountants of India (ICAI) to the extent applicable.10. We further report that:(i) the Balance Sheet and the Income and Expenditure Account dealt with by this report, are in agreement with the books of account and the returns.(ii) in our opinion, proper books of account as required by law have been kept by the Bank so faras appears from our examination of those books.(iii) the reports on the accounts of the branches audited by us / branch auditors have been dealtwith in preparing our report in the manner considered necessary by us.For M/s AEPN & AssociatesChartered AccountantsFRN. NO. 005842N
Jahangir H SheikhPartnerPlace: Mumbai
M. No. 107036.
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B. Balance Sheet of the society for the period ended 31st March, 2016
Sources of FundsCapitalReserves & SurplusDeposits & Loans
Total
Application of FundsFixed Assetsa. Gross Blockb. Less: Depriciationc. Net Block
Current Assets, Loans & AdvancesCash & Bank BalancesLoans & Advances
Less: Current LiabilitiesBalances Payables
Total
Particulars Sch As on 31-03-2016 As on 31-03-2015
Rs. Rs. Rs. Rs.
123
4
5
6
18,655,478
17,549,020 1,106,458
117,760,64432,454,332
150,214,976
41,784,2002,292,412120,475,791
3,211,593
164,552,403
164,552,403
C. Income & Expenditure Statement for the period ended 31st March, 2016
IncomeIncome from operating activitiesOther Income
ExpenditureAdministrative & Other ExpensesDepreciation
Particulars Sch As on 31-03-2016 As on 31-03-2015
Rs. Rs. Rs. Rs.
78
9
1,96,42,975
14,01,850
1,71,39,49213,68,374
2,10,44,825
1,85,07,866
147,003,383
5,25,55,80050,40,32615,63,13,874
21,39,10,000
1,99,61,191 13,68,377
1,85,92,815
16,96,97,3622,95,25,069
19,92,22,430
39,05,245 19,53,17,185
21,39,10,000
18,603,769
16,110,945
18,540,269
63,500
15,004,4871,106,458
Provisions and Contingencies:Tax Provision-Reversal (6,15,565) 6,15,565
Net Profit for the year 31,52,522Appropriations 31,44,958
Net Surplus Transferred to B/S 7,564
18,95,12718,87,678
7,449
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D. Schedules Forming part of Balance Sheet and Income & Expenditure
Schedule 4: Fixed Assets Schedule 10: Appropriations
Furniture & Fixture
Computer
Operation Risk Mitigation Fund
Software
Printer
Proposed Dividend
Daily Collection Machine
Note Counting Machine
Electric & Fitting
Inverter & BatteriesSafe
CC TV CameraIntercom System
Total
Gross Block Current Year
31,93,904
12,27,580
4,13,233
3,14,433
3,82,911
31,44,958
28,854
253,600
2,22,6813,01,162 23,399
4,642
Depreciation Last YearNet Block
Provision
Total
Investment Risk Mitigation Fund 5,12,7703,00,000
22,89,122
Schedule 3: Deposits & Loans
Demand DepositsTerm DepositsInvestment Deposit
TOTAL
Schedule 5: Current Assets, Loans & AdvancesA. Cash & Bank BalancesCash Balance in HandCash at Bank
Total
B. Loans & Advances and DepositsLoan & Advances
Other Current Assets
TOTAL
Current Year Last Year Current Year Last Year
10,83,77,1891,64,92,4283,14,44,257
15,63,13,874
6,82,1602,88,42,909
2,95,25,069
16,39,10,076
57,87,286
16,96,97,362
Schedule 6: Other LiabilitiesSundry CreditorsAudit Fees Payable
Provision Education Fund Payable
Profit Payable to Investor
CPF/ Incentives Payable to MobilizerOther Expenses Payable
Provision for Dividend
Total
Schedule 7: Income from OperatingActivitiesContribution for Promotion FundService Charges on LoanIncome from investment ActivityMiscellaneous Income
Total
Schedule 8: Other IncomeDonations & Grants
Total
142,61668,085
27,576
587,949
132,10642,360
1,424,624
3,211,593
-33,78,209
1,52,66,0579,98,709
1,96,42,975
14,01,850
Schedule 9: Administrative & Other
Expenditure
SalariesAccounting Charges
Advertisement ExpensesAudit Fees
Bank Charges
Computer Expenses
Electricity Charges
Gold Appraisal Charges
Honararium
Inauguration/Establishment Expenses
Insurance Expenses
Legal Expenses
Locker Rent
Meeting Expenses
Miscellaneous Expenses
Office Expenses
Office Rent
Printing & Stationery
Professional Tax
Refreshment Expenses
Repairing and Maintenance
Provision of Education Fund
Stamp & Documentation Charges
Stationary Expenses
SMS Alert Services
Telephone Expenses
Travelling & Conveyance
Lodging & boarding
Postage & Courier
Xerox Expenses
Vehicle Expenses
Website Charges
Water Exps
TOTAL
92,38,404
1,23,7381,94,785
66,346
92,048
2,85,524
3,070
1,09,185
2,93,905
44,05259,524
16,763
2,71,306
1,98,257
3,69,772
20,27,115
2,97,814
-
1,87,845
83,954
-
17,027
-
6,67,339
3,90,458
67,450
45,486
6,029
-
15,445
1,71,39,492
1,46,870
28,520
Schedule 1: Share Capital
Authorized Share Capital10,00,000 shares of Rs. 100/- each
Issued Subscribed & paid up capital5,25,558 shares of Rs. 100/- each
TOTAL
100,000,000
5,25,55,800
5.25,55,800
Current Year Last Year Schedule 2: Reserves & Surplus
Admission Fees
Credit Risk Mitigation Funds
Investment Risk Mitigation Fund
Last Year Surplus
Operation Risk Mitigation Fund
TOTAL
1,342,562
726,458
29,47310,000
2,292,412
Current Year Last Year
14,01,850
176,470
Tax Payable 615,565 -
Provident Fund 170,712
AMC of Software 83,175
Surplus 7,449
Fake note System
Two Wheeler
Land
2,774
1,90,695
1,33,00,000
1,99,61,191
4,24,962
4,67,765
51,464
1,09,213
1,37,484
12,368
24,996
28,79430,965 9,359
1,857
1,110
37,540
-
13,68,376
27,68,942
7,59,815
3,61,769
2,05,220
2,45,427
16,486
2,28,636
1,93,8872,70,197 14,040
2,785
1,664
1,53,155
1,33,00,000
1,85,92,815
100,000,000
79,729,62510,348,33430,397,832
12,04,75,791
2,545,95729,908,375
32,454,332
113,118,730
4,641,915
117,760,644
142,61668,085
27,576
587,949
132,10642,360
1,424,624
3,211,593
1,260,1703,527,397
12,913,377839,325
18,540,269
63,500
41,784,200
41,784,200
63,500
615,565
170,712
Intentives Paid 16,20,875
7,374,1433,000
189,622201,287
44,004
102,663
224,257
58,751
25,365
14,910
1,95,841
366,329
1,525,964
451,507
201,149
17,868
475,060
658,385
2,000
15,004
34,894
1,342,562
726,458
29,47310,000
2,292,412
176,470
69,693
7,449
17,94,013
10,500
21,824
15,004,487
51,388
4,510
126,501
46,533
309,244
2500
231,890
8,275
101,873
43,740
1% of Net Profit for CoopeartiveEducation Fund 31,525
1,424,624
10,000420,940
18,87,678
17,868
Transfer to General Fund:
0.5% Provision for Edu Fund 11,541 14,246
10
HIGHLIGHTS
1 - Growth with stability based on standardised operation.2 - Certificate course in ETHICAL BANKING.3 - Monthly monitoring, Quarterly Audit and reporting to HO.4 - 30:70 Credit & Investment business based operation.5 - Increase in share capital by 50% , JAF by 3 times and JMIF by 3 times of SSC.6 - JRF to general empowerment loan to 1000 people.7 - Promotion of S.H.G’s as pilot project at Mysore, Hyderabad, Aligarh and Nanded.8 - Creation of reserves as internal insurance measure.9 - Awareness Campaigns to reach to 10 lakh people for financial inclusion by way of interest free
A. Work Plan : 2016-17
financial mechanism.
1.
2.
BranchSr. no. Address Contact Person Mob.
Mumbai Branch AICMEU, Vazir Building, 1st Floor 179 I.R. RoadMumbai-03 Ph: 022-23476497 Email: [email protected]
Mr. Faizy M. ShamsuddinMr. Kazi Wajid 9773621480
Ground Floor, Nandadeep Building, CST Road, Near. Anjuman Islam School, Kurla West, Mumbai - 400070
Email: [email protected]
Ground Floor, Plot No. T/2, Shivaji Nagar, Govandi Mr. Ata ur Rahim Mumbai-400043 Near Shivaji Nagar Police Station Mr. Kazi Wajid 9773621480Ph: 9769015307 Email: [email protected]
Mr. Imran
Mr. Imam Masuldar
9226377361
9769015307
Kurla Branch
Govandi Branch
Jogeshwari Branch
3.
4.
6. New link road opp. Shah Compound Mumtaz House Dr. Islamil ShaikhBehramBaug Jogeshwari (W)- Mumbai 400102 Mr. Kazi Wajid 9773621480
Ph: 022-26782779 Email: [email protected]
7/25-A, II Floor, Grants Building, 17, Arthur BunderRoad, Colaba, Mumbai - 400005Ph: 022-22818178 Email: [email protected]
Head Office Mr. Abdul Rehman 9029490717
7/25-A, II Floor, Grants Building, 17, Arthur Bunder Mr. Farid AhmedRoad, Colaba, Mumbai - 400005 Mr. Kazi Wajid 9773621480 Ph:9594470030 Email: [email protected]
Colaba Branch5.
Regional President: Khan Liyakat Ali E-mail:[email protected] Regional Secratary: Mr. Syed Junaid Akbar
BRANCHES
Mr. Fahim Sk. 9769156494
Mr. Peer M MunshiMr. Kazi Wajid 9773621480
Mr. Shafi Inamdar 9820856381
Mr. Rashid Ansari 8421042799
10 - E-commerce and Plantation
Mr. Musabbir 9028400284Akola Branch7. Lokhit Mansion, Subhash Chowk, Akola, Pin - 444001 Ph: 0724-2422677 Email: [email protected]
Mr. Hafiz Abdul Hafeez 9822960558Nanded Branch8. 1st Floor, Wasim Complex, Near Bismillah MasjidNew Kela Market, Maharashtra Pin- 431604 Ph: 02462-258090 Email: [email protected]
President: Mr. M B L Arab Secretary:Mr. M S Hamduley Treasurer: Mr. M A Shaheed Tareq
Mr. Sk. Wasim 9022436015
11
BranchSr. no. Address Contact Person Mob.
12. 301, Mahmood Aptt. Shanti Nagar, Hyderabad, Telangana Pin: 500008 Email: [email protected]
Hyderabad Branch
Fatema Manzil, Opp. Ek Khana Masjid, Shah SirajRoad, Rohilagali, Aurangabad, Maharashtra- 431001
Mr. Shaikh Ahmed 7276704030Aurangabad Branch10.
Ph: 0240-2050118 Email : [email protected]
13. No. 1, 1st Floor, Above Aalco Dept Store, Russell Market Square, Bangalore- 560051
Ph: 080-60660667 Email: [email protected]
Bangalore Branch Mr. Mohammed Arif 9243056537
C/o Amma Engineering Industries, Plot No. B-50MIDC Ambad, Nashik, Maharashtra. Pin-422010 Email : [email protected]
11. Nashik Branch Mr. Munir Ahmed Khan 9373905562
Mr. V. Atheequr Rahman 9944398268
President: Mr. Adv. Faiz Syed Secretary:Mr. Mohd. Abbas Ansari Treasurer:Mr. Azam Ali Syed
President: Mr. Iqbal Ahmed Secretary:Mr. Imtiaz Kaji Treasurer: Mr. Mahboob Khan
BRANCHES
Shop No 21 & 22, 1st Floor, Lucky complex Beside Raguveer Talkies Old Mondha, Parbhani - 431401
Ph: 0245-2221032 Email : [email protected]
9. Parbhani Branch Mr. Ehtesham Siddique 9970995757
President: Mr. Afzal A. Padela Secretary: Mr. Mohd Abdul Samed Treasurer: Mr. Syed Saleem
17. # 82/324, 1st floor, Pachayappan Street Triplicane High Road Triplicane, Chennai - 600 005 Tamil Nadu Email: [email protected]
Chennai Branch Mr.Shahul Hameed 9840228420
18. 134, 1st Floor, Malang Road, Vaniyambadi, TamilNadu PIN: 635754Ph: 0417-4229565 Email: [email protected]
Vaniyambadi Branch Mr. V. Atheequr Rahman 9944398268
19. 34C First floor main Road Kayalpatnam Tamil Nadu Pin:628 204 Ph: 0463-9281001 Email: [email protected]
Kayalpatnam Branch Mr Seyed Abuthahir 8754834209
Gangolli- 576216 Dist. Udupi KarnatakaPh:08254-265190 Email : [email protected]
16. Gangolli Branch Anjuman Complex, Near Post Office, Main Road, Mr. Mohammed Ashraf 8971766411
President: Mr. S. Aahamed Meeran Secretary: Mr. Ibnu Soud Treasurer: Mr. M.H. Jiffri Kasim
President: Mr. V. Atheequr Rahman Secretary: Mrs. Fakhira Atheequr Rahman Treasurer: Mr. Riyaz Ahamd
President: Mr. Wavoo S. Cader Secretary: Mr. Mohamed Iqbal A. R. Treasurer: Mr. Sheik Dawood.S.A.K.
#178, City Plaza, M.G. Road, Udayagiri, Mysore-570019
Ph: 0821-2452223 Email: [email protected]
1st Floor, Raj Tower Near City BusStand, Udupi - 576101
14.
15.
Mysore Branch
Udupi Branch
Mr. Raqiz
Mr.Kashim Barkur
9611066870
9900253105
Ph: 0820-4295457 Email: [email protected]
President: Mr. Syed Zaheer Ahmed Secretary:Mr. Mohamed Aslam Treasurer: Mr. M. Noorulla Shariff
20. #4, St. Thomas Rd. (Opp. Govt. medical school) High ground Tirunelveli - 627011 Tamil Nadu Ph: 0462-2562777 Email: [email protected]
Tirunelveli Branch Mr. Abdul Hameed 8870584777
President: Mr. Haniffa Mohamed Riaz Secretary: Mr. Mahaboob Jan.M Treasurer: Mr. Syed Ibrahim A.
12
BRANCHES
22.
BranchSr. no. Address Contact Person Mob.
Bhadohi Branch Near Mabood International Kazipur Road Bata Gali, Bhadohi-221401 Varanasi UP
Mr. Shadab Ansari 9795667624
Ph: 05414-224377 Email: [email protected]
Ph:033-22892138 Email : [email protected]. Kolkata Branch 2H/22, Radha Gobinda Saha Lane Kolkata - 700017 Mr. Jawed 9163255142
Kokan Villa, Main Road, Iqra Colony, New Sir Syed Nagar, Aligarh - 202002 Uttar PardeshPh: 0571-2401209 Email: [email protected]
21. Aligarh Branch Mr. Irfan Sabahi 9412671881
City Office, Karam Ganj, Behind Zila SchoolDarbhanga - 846003Ph: 0627 - 2295436 Email: [email protected]
23. Darbhanga Branch Mr. Kamal Gauhar 9097852575
Opp. Railway Hospital, Lietch Road, Gaya-823001
Email: [email protected]. Gaya Branch Mr. Tamimuddin Humble 9661679592
President: Mr. Shabbir Butt Secretary: Mr. Irfan Ahmad Sabahi Treasurer: Mr. Syed Ibrahim A.
President: Mohd. Naseem Ansari Secretary: Mr. Aseem Ansari Treasurer: Mr. Ausaf Husain
President: Dr. Hamid Hussain Treasurer: Mr. Md. Badiul Akhtar
President: Dr. Jawed Zulqarnain Secretary: Mr. Nurullah Treasurer: Mr. Anwar Hussain
President: Mr. Md Shah Alam Secretary: Mr. Mozammel Hossain Treasurer: Mr. Anwar Hussain
Hunsur - 571105 Dist. Mysore Karnataka.Ph:08222-251558 Email : [email protected]
28. Hunsur Branch Rafeeq Complex 1st Floor Club Road Bazaar Rd. cross Mr. Mohd. Gayas 08222-251558
No. 214, 2nd Floor, East Veli Street,
Ph: 08428346119 Email: [email protected]
No:10-11 ,Mubarak Masjith Complex, Quaid-E-Millath Street, Lallpettai, Cuddalore, 608303
26.
27.
Madurai Branch
Lalpettai Branch
Mr. Basheer
Mr. Ansar
9944378462
9003443410
Ph: 04144-268888/9003443410 Email: [email protected]
President: Mr. M.A Yasin Mohamed Secretary: Mr. A Kamaruz Zaman Treasurer: Mr. M.A. Mohamed Rafeek
Madurai - 625 001Opp. Old Chinthamani Theater,
President: Mr. Mohd. Gayas Secretary: Mr. Nasir Mujahid Treasurer: Mr. H.G. Altaf Pasha
Hunsur - 571105 Dist. Mysore Karnataka.Ph: 9709324557 Email : [email protected]
29. Delhi Branch E-61, A-F Enclave, Jamia Nagar, New Delhi - 110025 Mr. Tariq Ekramullah 9873239343
President: Mr. Tariq Ekramullah Secretary: Mr. Abdul Rauf Treasurer: Mrs. Naseema Khan
Rourkela - 769001. OdishaPh: 8339841515Email : [email protected]
30. Rourkela Branch 1st Floor Razak Complex (Big Bazaar) Main Rd. Mr. Ejaz Ahmad 8339841515
President: Mr. Wasim Akhtar Secretary: Mr. Mohd. Irfan Treasurer: Mr. Ashfaque Alam
31. Nagercoil Branch 1st Floor, 2 Old Kumari Colony Vetturnimadam Nagercoil 629003 Dist. Kanyakumari Tamil Nadu Email :- [email protected]
Mr. Sugin 8939865709
President: Mr. M. Syed Mohamed Secretary: Mr. Abdul Lateef Uthman Treasurer: Mr. Mohamed Rafi
OUR APPROVED FINANCIAL PRODUCTS1. MEMBERSHIP
a.Diamond Club MembersMinimum 5000 Shares of Rs. 100 each
2. DEPOSIT PRODUCTS
- Amanah Current Fund (ACF)
- Amanah Saving Fund (ASF)
- Amanah Compensatory Loan Fund (ACLF)
- Mutual Help Loan Group Fund Deposit (MHLGF)
- Amanah Children Education Fund (ACE)
- Amanah Daily Fund Deposit A/c (ADF)
- Self Help Group Fund Deposit A/c (SHGF)
- Amanah Hajj Fund Deposit A/c (AHF)
a. Janseva Amanah Fund
a. Unsecured General Loan b. Secured General Loans
- Recurring Investment Fund (RIF)- Asset Based Investment Deposit- Participatory Investment Fund (PIF)- General Investment Fund (GIF)- Venture/Project based Investment Fund (VIF)
- Revolving Fund Donation Deposit (RFD)
- Security Deposit
- Soft/Borrowing loan without Interest
b. Janseva Member Investment Fund (JMIF
3. General Purpose Loan and Advance (GPLF)
- Employers guaranteed loan- Durable consumer goods loan
b.Gold Club MembersMinimum 1000 Shares of Rs. 100 each
c.Silver Club MembersMinimum 100 Shares of Rs. 100 each
- Gold ornaments guaranteed loan
- Financial paper guaranteed loan
- Asset creation loan.
4. Business Purpose loan fund (BPLF)
5. Investment Schemes on PLS
a. Personal Vehicle loan (Murabaha based )
a. Investment in Gold
b. Commercial Vehicle loan (Ijara/Murabaha based)
b. Venture Capital
c. Trade finance Loan (Murabaha based)
c. Investment in Equity Capital
d. Land and Housing (Murabaha / Ijara based)
d. Commodity Market Investmente. Infrastructural Development Projects
Making Money Moral
in the field of:- Edu. Institutions/Housing societies
- Industrial Estates/Commercial Complexes
- Agricultural Cooperatives
f. Special Purpose Schemes
6. FEE BASED FINANCIAL SERVICES
a. Promotion & Development of SHGs & JLGs
b. Money Transfers as per the need and direction
of the members
c. Facility of Micro Insurance and ID cards etc
d. Financial consultancy and intermediation
e. Other utility services.
c. Other Deposits
- Empowerment loan / benevolent loan - Personal loan- JLG loans ( SHG/SHLG)
Janseva Cooperative Credit Society Ltd.Head Office: 7/25-A, 2nd Floor, Grants Building, 17, Arthur Bunder Road, Colaba, Mumbai - 400005
Regd. Address: AICMEU, Vazir Building, 1st Floor, 179, I.R. Road, Mumbai - 400003
PH: 022-22818178 Email: [email protected] Web: www.janseva.in
Janseva Cooperative Credit Society Ltd.
d.General MembersMinimum 1 Share of Rs. 100 each
- Janseva Corpus Fund Deposits
All India Council of Muslim Economic Upliftment7-8, 1st Floor, Vazir Building, 179, I.R. Raod, Mumbai - 400003
Tel; +91-22-23478329/6497, 23744088/89, 23704087/88 Email: [email protected]
JOIN AND HELP US TO MAKE THIS WORLD A BETTER PLACE FOR ALL!
For any further query contact us at:
To Unlock the Golden Door
Empowerment
By way of Interest Free BankingTehrik- e- ZakatIslamic Chamber of Commerce and Industry
Economicof