Buoyed up by a new Board and a collegium in which at least 30 percent faces are new the fertilizer cooperative giant IFFCO is holding its first Annual General Meeting after the elections in the NCUI Auditorium in N Delhi on Thursday.
We are more than ten delegates who are putting up in the NCUI hostel a group told Indian Cooperative. Delegates numbering about 815 who have been elected in the 2014 elections have turned up to participate enthusiastically in a cooperative federation whose success story fills their heart up with pride.
There are more than 20 delegates from Bihar and about 55 from Tamil Nadu, said delegates from respective states to Indian Cooperative. There is hardly a state from which the representation would be missing as IFFCO boasts of having delegates from each state of the country in this new collegium.
We hope to be given 20 percent dividend as has been the tradition with the IFFCO, said one of the delegates. One would get an amount according to his share-capital, he added.
Earlier, on Wednesday the newly constituted Board held its first meeting in the Chairmanship of Balvinder Nakai, the green horn who trounced N P Patel in the final counting. R Ramachandran who contested for the Board membership felicitated the Chairman, Vice-Chairman and others on this occasion.
The IFFCO is having more than 40 thousand cooperative societies as its members across the country and delegates from them have assembled in Delhi. The delegates are spilling out of the NCUI Guest house to the IFFCO’s guest house and Sai Dham adjacent to the NCUI.
Taking care of their board and lodging is no mean job but we are used to it as AGM takes place every year, said one of the officials of the Iffco assigned the task.
On the issue of whether gold coin is being given this year Dr G N Saxena, Director of Cooperative Development told Indian Cooperative “ it is nothing new as we have been giving 5 gram gold coin to our delegates for last seven years.
Each farmer requires at least about 25 gram of gold in marrying off his daughter. Our delegates are elected for a period of five years. Our Managing Director Shri U S Awasthi insists that in their five years of association with the IFFCO , farmers should get five gram of pure gold each year”. It adds up to 25 gram in a period of five years, Dr Saxena added.