ANNEXURE-A

Rules for Election of the office of the Board of Director for a term of

Five Years under Bye-Law No. G 1.7(2) of Society.

THE B.A.R.C. EMPLOYEES

CO-OPERATIVE CREDIT SOCIETY LTD.,MUMBAI

(Regd. No. 29770)

Old R-5 Shed, Behind R.L.G. Trombay, Mumbai - 400 085.

Bye-Law No. G 1.7(2)

1. These Rules shall be referred to and called as "B.A.R.C.

Employees Co-Op. Credit Society Election Rules to the Officeof Board of Director's.

Board of Directors are duly

elected members to govern /administer the affairs of

Definition:

A) Board of Director:

These Rules and the changes / notification made hereunder,

from time to time, shall be binding on each of the members,

without any exception .

2. The said Rules shall come in force from the date of approval

from Divisional/Joint Registrar of Co-operative Society

(Salaried Employees Credit Society), Maharashtra State or

from the relevant Competent Authority prescribed for the

purpose.

3.

4.

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~~~~~~~~~~~~~~~~'iNote:

B) Member:

C) Act & Rule:

'\B.A.R.C. Employees Co-Op.Society Ltd. Mumbai.

Every bonafide member of

B.A. R.C. Employees Co-Op.Credit Society Ltd. Mumbai.

Maharashtra Co.Op.Societies Act 1960 Rule 1961

made there under:

A)

B)

Except Ex-Officio President & Ex-Officio Vice

President, all the remaining 13 (Thirteen) members

shall be elected directly by conducting election once

in every five years.

By virtue of Bye-laws of the society, the Ex-Officio

President & Vice President shall be appointed by theDirector, BARC.

COMPOSITION OF BOARD OF DIRECTOR'S5.

D) Bve Laws: Bye-laws of B.A.R.C.

Employees Co-Op. CreditSociety Ltd. Mumbai.

C) After the term of every five years, there shall beelection of 13 members of Board of Directors. After

completing the 2 (two) consecutive terms of 5 yearsof Office as Board of Directors no member shall be

eligible to contest for the next third or successive term

of office under the provision of Bye-law of the Society.

The constitution of Board of Director's shall be as under:

1. Ex-officio President -1 Post } (appointedby2. Ex-officio Vice-President -1 Post Director,BARC)

3. General Member - 9 Post

4. Reserved Member from Women - 1 Post5. Reserve Member from Schedule

CastelTribe - 1 Post.

6. Reserved Member from Nomadic Tribe

Caste / Special Backward Class - 1 Post

7. Reserved Member from O.B.C. - 1 Post

Total 2 + 13 = 15 Post=================

4

6.

7.

VOTING RIGHT

In the year in which election is to be held, the members canvote whose name is entered in societies roll before the end

of 3151 March of the year. The member who accepted

membership of the society after 151 April or who retired from

service or who voluntarily tendered resignation of his

membership and accepted between the period from 151 April

and the day of election or whose membership is cancelled

for whatsoever reason will not be eligible to take part in voting.

APPOINTMENT OF CHIEF ELECTION OFFICER

The Board of Directors of the Society shall appoint a Chief

Election Officer who will generally be a Group "An Gazzetted

5

8.

~Officer of the B.AR.C. The Chief Election Officer can co-opt any other officer to assist him as Election Officer.

ISSUANCE OF NOTIFICATION AND ACCEPTANCE OFNOMINATION FORM

A) After every five years, in the year in which the election

of Board of Directors is to be held, the Chief Election

Officer will issue notice inviting application for theelection of members from the candidates interested

to contest election, on the day fixed by him. The saidnotice will be published and placed on notice board

of the Registered office of the society for theinformation of the members. The members who

propose to contest the election should have

completed one year of continuous membership andthe balance period of service should not be less than

6 years as on 1sl April of the year in which Election isconducted.

B) The Prescribed nomination Form will be made

available for members in the Society office. It is

binding on the part of members to use the form made

available by Society only, otherwise the nominationwill be treated as invalid.

D)

E)

F)

G)

'\office address and membership number. The form

should bear the particulars of candidate and his

signature consenting for the election.

The date of issuing and accepting nomination forms

will be as per the time schedule indicated in theCircular.

The candidate forms will be issued till the last working

day as per notification of circular.

In the month, in which election is to be held the

candidate's completed and duly signed forms will be

received till the last working day as mentioned in

election circular and acknowledgement for the same

is to be obtained from the office of the society.

Along with candidate Form for General Category an

amount of Rs. 1000/- is to be paid in cash in the

society as Deposit. This rule is also applicable to

women General as well as reserve category. For the

member contesting election for reserved post forschedule Cast / Tribe and others an amount of

Rs. 500/- is to be paid in cash as the Deposit. For the

candidate from Reserve Category it is necessary toenclose caste certificate.

C) The member who are desirous to contest the election

shall be proposed & seconded by the member ofthe society in the prescribed form. The form should

also bear the signature of members of proposed and

seconded their name, designation, employee no.,

6

H) If the candidate from General Category receives less

than 1/3 votes of the 9th (Last) elected member, then

his deposit amount will be forfeited.

7

~

If the candidate contesting election for the postreserved for women / schedule cast / Tribe, received

is less than 1/3 Votes than the votes received by the

last elected member of the said post, then the

deposit of said candidate will be forfeited.

~ ~

to contest election for Six years from the date of his

invalidation of earlier election, but if he submitted

nomination form before completion of 6 years from

his invalidation of earlier election, the same will be

rejected & the candidate and proposer / seconderwill be informed with reasons accordingly.

The deposit amount of remaining candidate will berefunded after the declaration of the Results of the

Election.C) Within 3 days from the date of receipt of information

about his invalid form, the candidate may make

appeal to Divisional Registrar of Co.op. Society.

SCRUTINY OF NOMINATION FORM & PUBLICATION

OF LIST OF ELIGIBLE CANDIDATE

I) The deposit amount of the candidate who withdrawtheir nomination form will be refunded after final list

of candidate is published.

B) The ballot box will be sealed in such a manner thatwithout breaking the seal the ballot box will not open.

E) After the period for withdrawing nomination from isover, the final list of the candidate will be preparedand the said list will be published on the notice board

of the society for information to the concerned.

Before the day fixed by the Chief Election Officer for

withdrawing nomination form, the candidate may

withdraw his name by giving written application to the

concerning authority.

TO SEAL BALLOT BOX

A) On one day prior to day of voting, the Chief ElectionOfficer with his authorized Officer will seal the ballot

box with his seal in the society office in the presence

of the candidates or their representative.

D)

10)

The Chief Election Officer with the help of his

assistant will make scrutiny of the nomination forms.

The list of eligible Candidate will be prepared as per

the initial of their alphabetical order of name and for

their information the said list will be published and

displayed on the notice board of the registered office

of the society.

The forms of the Candidates who are not eligible

under section 58 of Maharashtra Co.Op. Societies

Act 1960 or under Maharashtra Co-Op. Societies

Rule 1961 or under Bye-Law G-1.9 of the Society,

Or any other order Or the candidate whose earlier

Election is invalidated by Co-op. Court will not entitle

B)

A)

9)

8 9

C)"\

On the other corner of the ballot box, ballot Box No.,

Constituency Booth No. and Voting Centre will bementioned.

~ ~or mark their name or any other symbols on the ballot

papers, which make the Vote invalid.

11)

D) One day prior to voting, the Sealed ballot box, voter's

list, ballot papers, rubber seal, ink & other necessarymaterials will be handed over to election officer of

concerned voting centre and the receipt of the samewill be taken from them.

PROCEDURE OF VOTING

A) The Election will be held by secret voting.

B) The decision about the day and time of voting will be

taken by the Chief Election Officer and the information

will be notified to the members by publishing circular.

C) The Voting Centres will be at Brahan Mumbai & BRIT

.Complex, Vashi.

F)

G)

H)

It is compulsory on the part of members to produce

their Identity Card issued by their respective Employer

like BARC, HWB, DCSEM etc.

If the name of any of the member is found missing or

wrongly written in the bonafied Voter's list at any of

the Voting Centre, it is the duty of the member to prove

his identity by suitably a written certificate from the

Sr. Officer to the Polling Officer. After verifying the

fact of the certificate the Polling Officer should allow

the member to caste his vote and send the certificate

of the member of the society for record.

The polling officer will ensure that the candidate or

his representative shall not canvas within the

compound of that voting centre .

D)

E)

The member will be entitled to vote at their respectiveVoting Centres located within the ambit and their

Work Spot I Office. However the Polling Assistants

and volunteers working at a particular voting centre

will cast their vote at that voting centre.

The members who wish to vote to a particular

candidate will put stamp provided at voting centre in

front of the name of candidate. Voters should not sign

10

I) After voting time is over, the Polling Officer of the voting

centre will seal the open space of the ballot box kept

for inserting ballot paper with his seal and with hisauthorized Assistant, and send the sealed ballot

box / boxes, balance ballot papers, accounts of used

ballot papers, other balance material, specimen of

seal put on ballot box by the specified vehicle andmanner to Chief Election Officer and along with his

report in writing.

11

~ ~election contesting candidates and remaining present, canascertain the ballot box.

12)

~

J) The ballot box and other material sent by the Votingpolling officer will be received by Chief Election

Officer / his authorized Assistant in Office of the

society or at the place fixed by Chief Election Officer

and all the material will remain in custody of chief

election officer or his Asst. Polling Officer till the dayof Counting of the votes are completed.

COUNTING OF VOTES

A) The day, date and place for counting the votes willbe decided by Chief Election Officer and to that

effect prior intimation will be given to the candidates.

B) In consultation with the President, the Board of

Directors will appoint required number of personsfor counting the votes, but in that, no member from

present Board of Directors or election contestingcandidate will be included.

14) SCRUTINY & INVALIDATE THE BALLOT PAPERS

A) The ballot papers taken out from ballot box and

received from post will be bundled conveniently for

counting and it will be scrutinized.

B) The ballot papers will be considered as completely

invalid in the following circumstances.

1. Any mark/ symbol or writing / signature etc. on ballot

paper is made to identify voting.

2. If no cross stampings for anyone candidate on Ballot

paper.

3. If more than one candidate is to be elected, the casted

votes are more than the number of candidate to be

elected.

4. To one candidate more than one votes are casted.

13)

C) At the vote counting centre, the person appointed to

count the votes, Staff members of the society present

Board of Directors and the candidates will only getthe entry.

SCRUTINY & OPENING OF BALLOT - BOX

Before opening the box, polling officer or their assistant will

ensure that the seal put by voting centre officer on ballot box

with the sample of seal sent by them and after ascertainingboth the seal are same, the ballot box will be opened. The

)12

5.

6.

7.

8.

C)

If cross mark is made at different place than the space

reserved for marking it on ballot paper.

If it is proved that ballot paper is bogus.

If the ballot paper is cut in pieces or spoiled to such

an extent that it is difficult to ascertain the genuineness

of ballot paper.

The Sr. No. and appearance of ballot paper is different

than the Sr. No. and appearance of official ballot paper

issued for use at voting Centre.

If the mark put on ballot paper creates confusion as to

which candidate the vote is casted, then the sai~

13

15)

"\

specific vote will be considered as invalid and theremaining votes will be treated as valid.

D) The vote counters will make entries of valid votes in

the chart provided to them and final chart making ofall the votes received by each member will be counted

and submitted to the Chief Election Officer.

E) Based on the order to votes received by each

candidate, a list will be prepared and along with areport of Chief Election Officer, the same will be

handed over to the President of the society.

F) Another list will be prepared, by Chief Election Officer,of the candidate who are elected with their received

votes and it will be handed over to the President of

the society to declare it in Annual General BodyMeeting.

G) If the counting of votes is not completed on the dayfixed for counting, the Chief Election Officer will take

decision whether to continue or to adjourn the day ofcounting.

RECOUNTING OF THE VOTES

A) After completing the counting of votes, the Chief

Election Officer will make entries of votes receivedby each candidates.

B) Out of the candidates to be elected, last candidates

and the candidate next to him received same votes,

then candidate (next to last candidate) have right toask recounting of votes but the Chief Election Officer

/I14

.,

16)

17)

18.

'\reserves the right to decide whether the recounting is

to be done or not, in that existing circumstances.

DECLARE THE RESULT OF THE ELECTION

A) After Election, the Chief Election Officer will declare

the result of the election and the introduction of newly

elected members will be made in the ensuring Annual

General Body Meeting.

B) Out of the candidates to be elected, if last candidateand the candidate next to him received same votes

and request made to that effect for recounting is turneddown then there will be draw of lots in the name of

candidates who have received same votes and the

President ofAnnual General Body Meeting will choose

one out of the lots and the candidate having his nameon the said lot will be declared as elected.

APPEAL AGAINST RESULT AND TO PRESERVE

BALLOT PAPERS

A) If one or more candidates have complaint against the

election's result, he may file an appeal in co-operative

Court within 15 days from the date of declaration ofresult.

B) The election result and ballot papers will be officially

sealed and preserved in the office of the society for

Six months from the date of Election and thereafter, if

not required, it will be disposed off.

AMENDMENT IN RULE

A) The Board of Directors are competent to add /correctlcancel/make new rule under this rule. But the

changes will come in to force after obtaining sanction~

15

B)

C)

~ ~from Divisional Joint Registrar, Co.Op. Society

(Salaried Employees' Credit Society) State of

Maharashtra or from corresponding competentAuthority.

It will be within power of Board of Directors to decide

the details of election programme (Except inviting

nomination forms) or to make change in preplannedprogramme.

In the year in which election is to be held, the Chief

Election Officer appointed by the Board of Directors

will declare various dates for election process of jointprogramme till declaration of election result about

calling nomination forms, its scrutiny, to preparevoters list etc.

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**************

If any difference of opinion arises regarding the meaning Iexplanation of this rules, the decision of the Board of

Directors will be final and binding on the members.

In addition to this Rules the Rules published by Maharashtra

Government under Maharashtra Co-Operative Society Act.and Rules and amendment made thereunder from time to

time. Which are applicable to credit Resource Salary

Earners society should be applicable to election of Board of

Director of the society.

The territorial juridication of the court for any dispute aboutany election matter shall be at Mumbai.

19) AMBIGUITY

16 17

Fidelity Bond Rules 2007

Bye-Law No. F.1.5

The loan shall be paid on personal security of the borrowing memberunder the rules mentioned below :-

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**************

24

1)

2)

3)

4)

THE B.A.R.e. EMPLOYEES

CO-OPERATIVE CREDIT SOCIETY LTD.,MUMBAI

(Regd. No. 29770)

Old R-5 Shed, Behind R.L.G. Trombay Mumbai - 400 085.

ANNEXURE - B

Title :-

These rules shall be called "BARC Employees' Co-operative

Credit Society Ltd. Mumbai" Fidelity Bond 2007.

Implementation:

These Rules shall come inforce after approval form the

Registering Authority

Application of Rules:

These Rules shall be applicable to all the members of the

BARC Employees' Co.Op. Credit Society Ltd.

Definitions:

a) "Society" means BARC Employees' Co-operative Credit

Society Ltd.

b) "Fidelity Bond Rules" means BARC Employees' Co­

operative Credit Society's Fidelity Bond Rules 2007.

25

The amount of premium charged will be rounded off to next rupees.

"\

of repayment of loan as mentioned in the loan bond shall be

entitle for Long term loan without any surety. The premium

will be calculated by using following formula:

"\

c) "Borrower" means the member of the "Society" whodesires to obtain or obtains loan from the "Society".

d) "Managing Committee" means the duly elected

members of the Managing Committee of the Society.

e) "Loan" means any type of loan granted to "Borrower" by

Managing Committee under "Fidelity Bond Rules".

f) "Premium" means the contribution as specified in Rule

NO.6 to be paid by a "Borrower" under the "Fidelity BondRules".

g) "Year" means the Co-operative year of the Society for

all accounting purposes.

(Sanctioned /

OutstandingLoan amount ­

Credit Balance Amount

100x

Number

of

Installment

12x

Rate

Of

Premium

5)

6)

Aims and Objects:

The aims and objects of the Fidelity Bond R\-lles are:

i) To grant loan to any Borrower without obtaining any

surety on payment of premium as per Rule No.6, of

Fidelity Bond Rules.

ii) To raise the Funds in order to recover entire or part

of the loan paid to a borrower under Fidelity Bond

Rules in case borrower fails to repay the same to

the Society due to reasons mentioned in sub-rule (i)

and (ii) of Rule 8 of Fidelity Bond Rules.

Rate of Premium:

The borrowee on payment of premium @ Rs. 0.40 per Rs.

100/- per year (12 months) on the loan amount after

subtracting the Credit Balance i.e. Share Capital,

Subscription to the extent of limit prescribed in D.3.2 from

the loan sanctioned / outstanding for the entire balance period

26

7) Terms and Conditions:

i) The premium as mentioned in 6 above shall bededucted from total amount of loan sanctioned to

borrower at the time of payment of loan.

ii) It will be the responsibility of the borrower to deposit

the loan installment and other dues to the Societyoffice on or before 5th of the month if the same is not

recovered through salary for reason whatsoever.

iii) For reason whatsoever if the monthly loan installment

is not recovered continuously for six months or more,

the fidelity bond shall stand as null and void. In such

cases and additional premium at the rate mentionedin Rule 6 above shall be collected from the borrower

in cash or through salary following immediately after

execution of fresh fidelity bond for the loan balance

receivable on the date of death if any, after adjusting

)27

1.

2.

iv)

"\

keeping rate of installment not less than the ratementioned in old loan bond. e.g.

Ordinary Loan:Loan borrowed is Rs. 10,000/- to be repaid in 66

installments @ Rs. 155/- per month. Rs. 3,720/­recovered in 6 installments and then no recovery was

effected for six months continuously remaining

Rs. 6,280/- loan balance to be recovered in 42

installments. The premium is calculated in this case

by using formula given in Rule 6 as follows:

6280 X 42 X 0.4 = Rs. 88.00100 12

Special Loan :Loan borrowed is Rs. 10,000/- to be repaid in 120

installments @ Rs. 85/- per month. Rs. 2,040/­recovered in 24 installments and then no recovery

was effected for six months continuously remaining

Rs. 7,960/- loan balance to be recovered in 96

installments. The premium is calculated in this case

by using formula given in Rule 6 as follows:

7960X 96 XO.4=Rs. 255.00100 12

A borrower failing under 7 (iii) above may approach

the Managing Committee with written application

stating reasons for non recovery of the loaninstallments and also assuring the Managing

Committee for non-reoccurrence of such laps. On

~

28

8)

'\receipts of such application if the ManagingCommittee is satisfied with the reasons and

assurance it may allow such borrower to repay the

loan as per the installments for the balance periodas mentioned in the loan bond. However, such

member has to pay an additional premium at the rate

mentioned in rule 6 above for the outstanding loan

and for the balance period as per the loan bond

executed at the time of borrowing. Such request can

be considered once during the total period' of

repayment as mentioned in loan bond.

v) A borrower may request in writing to the Managing

Committee for postponement of loan installment, on

or before 15th of the month. On receipt of such

application the Managing committee may accord its

sanction for postponement not more than once in a

year and maximum 6 postponements during the total

period of repayment as mentioned in loan bond

without affecting the provision of Fidelity Bond Rules.

vi) No refund or adjustment of premium on prorate basis

will be made even if borrower desires to pay / pays in

lump-sum the balance loan or desires to increase

the monthly loan installments or applies for fresh loan

after repayment of 50% loan already taken by regularinstallments.

Utilistion of Fund:

i) In the event of death of borrower, the amount of

outstanding loan and the interest due thereon

J29

only his/her contribution as per Bye-law No. D:3:2

with the Society from outstanding loan and interest

due thereon, will be adjusted from this fund.

';/10) Accounts:

The amount collected and disbursed shall be accounted for

separately under the head as "Fidelity Bond Account".

ii)

iii)

In the event of a borrower, due to incurable prolonged

sickness or physical invalidity retiring from the

department on Invalid pension and if sub-committeeis convicted that such borrower is unfit to serve/any

other employment, the excess amount, if any, after

adjusting his/her own credits with society from

outstanding loan and interest due thereon againsthim /her on the date of Invalid Retirement, instead of

recovering from him/her, it will be adjusted from thisfund.

In any other circumstances other than mentioned in

(i) and (ii) above, after making all the efforts to recover

the outstanding loan and other dues through all thesources of the borrower, the excess amount if any

after adjusting his/her own credits with the Society

from outstanding loan and interest due thereon

against such borrower on the date of loan bond

becoming invalid as per the provision of Rule 7 (iii)

of this "Fidelity Bond Rules" will be recovered from

"Bad and Doubtful Debts Reserve" by passing a

resolution to that effect in General Body Meeting on

the recommendations of the Managing committee.

11)

12)

Management:

A) The Fidelity Bond Account shall be managed by a

sub committee consisting of 3 members elected by

the Managing Committee from amongst its memberat the time of election of office bearers for the co­

operative year for recommencing all cases under

Fidelity Bond Rules.

B) The decision of the Managing Committee inconsultation with sub-committee shall be final.

General:

The General Body of the Society shall be empowered to

amend any / all the provisions of the Fidelity Bond Rules

2007 as may become necessary from time to time.*************

9) Investment of Funds:

A) By investing in the business of the Society.

B) By investing in Deposits with Co-Gpo Banks.

30 31