-
Audit
M/s. TTamhane and Mehta , Chartered Accountants audited our Accounts as internal Auditor and M/s.Thakurdesai & Associates Chartered Accounts audited our accounts as Statutory Auditors. Both Audits are completed and our Society has been accorded A class as hitherto.
Appropriation of Profit
After making all the statutory provisions, the net profit of the society or the year ended 31st March , 2015 was Rs.42,14,884.36 by adding the balance profit of the society for the last year i.e. Rs. 11,10,669.12. The amount of the profit Rs. 53,25,553.48 for the year is available for distribution. We recommend that it may be distributed as under: for distribution. We recommend that it may be distributed as under.
| Statutory Reserve fund | Rs. 10,53,730.00 |
| Dividend @ 15% on share Capital | Rs. 24,17,160.00 |
| Balance Profit carried forward | Rs. 18,54,663.48 |
| TOTAL | Rs. 53,25,553.48 |
• 15% dividend may be paid to the members on their share Capital
• 8% interest on capital Deposit has already been credited to their Saving Accounts on 31st March 2015. Additional interest @12.50% on the interest paid on Capital Deposit may be paid.
• The amount of dividend , Additional interest will be cedited to SB A/c of the members after approval in the Annual General Meeting.