Durgesh S Chandavarkar was re-elected unopposed as the Chairman of the second largest urban cooperative bank of India-SVC Cooperative Bank, in an election held on 4th June 2023. Arun Mavinkurve was elected as the Vice-Chairman, replacing Udaykumar Gurkar who didn’t contest the election this time.
The elections of Chairman and Vice-Chairman were held soon after the proceedings of the 117th Annual General Body meeting held in Mumbai today on Thursday. As soon as Chandavarkar’s name was announced, his followers lost no time in greeting him.
On this occasion, Jayant Patil, Deputy Registrar, Mumbai, who had been appointed as the returning officer to oversee the election process, officially announced the results of the elections to the board of directors.
When the Indian Cooperative called the freshly elected Chairman Durgesh S Chandavarkar Thursday evening after the results, he was busy in a meeting and promised to get back with his plans for the UCB in his second term.
It bears recalling that in the recently held elections of the board of directors of the bank, the Chadavarkar panel made a clean sweep, defeating the Pagare’s panel. All the 15 seats of the board of directors have gone to the Chandavarkar’s panel underlining members overwhelming support for his panel.
Among the newly elected Directors, six are newcomers while the rest are old hands.
Chandavarkar has over 40 years of experience across varied industries and he has been at the helm of affairs in many companies. He is the Chairman & Managing Director of Standard Greases & Specialities Private Limited, Chairman of Royal Castor Products Limited, Director of Astrum Healthcare Private Limited, Standard Oils & Greases Private Limited, Tide Water Oil Co. (India) Ltd. and Veedol International Limited based in the United Kingdom, claims the SVC Bank website.
The new board consists of many professionals, for instance, the newly elected Vice-Chairman Mavinkurve is a Graduate in engineering (B. Tech.) from IIT Bombay; Diploma in Business Management (DBM) from Mumbai University and One-year Executive Programme in Applied Finance (EPAF) from IIM Calcutta.
Besides, the director Prakash A. Bijoor is a Chartered Accountant who has worked for international companies in India. Another director Sunil Gokarn is M. Com, LL. B (General) and CAIIB. The woman Director Ms. Maitreyi Sanadi has specialized in corporate credit and has administrative experience.
SVC Bank is the second largest urban cooperative bank of India. The Bank’s total business as on 31st March 2023 stood at Rs 33,480.61 crore and earned a net profit of Rs 176.31 crore.
The names of members of the new team are as follows.
Chairman: Durgesh Chandavarkar
Vice Chairman: Arun Mavinkurve
DIRECTORS
Raghunandan Bangalorekar
Prakash Bijoor
Pramod Shedde
Sunil Gokarn
Girish Karnad
Devdutta Chandavarkar
Sudhir Mundkur
Satish Rao Tonse
Gautam Mudbhatkal
Amarnath Savnal
Maitreyi Sanadi
Seema Trikannad
Rubab Tadvi
