nt Article​​ 

osed Article​​ 

rea of operation ​​ of the ​​ erative will be south Kashmir. ​​ 

rea of operation of the ​​ erative will be state of J&K. ​​ 

Present Article​​ 

Proposed Article​​ 

iv. To accept the surplus of the members in the form of ​​ deposits etc. ​​ 

iv. To accept surplus of the members in the form of thrift  ​​​​ amounts and credit capital etc.​​ 

Present Article​​ 

Proposed Article​​ 

i.Accept deposits of different ​​ nomenclatures on which profits/ dividends will be paid as decided by ​​ BOD from time to time.​​ 

i.Accept thrifts and credits of ​​ different nomenclatures on which profits/dividends will be paid as decided by​​ BOD from time to time.​​ 

Present Article ​​ 

Proposed Article​​ 

ii. To encourage the habit of thrift among the children they may be admitted as Associate Members​​ 

ii. To encourage the habit of thrift,​​ 

without voting rights and payment to equity capital.​​ 

the children/desirous persons may​​ 

​​ be admitted as Associate ​​ Members without voting rights and payment to equity capital. ​​ 

Present Article​​ 

Proposed Article​​ 

iv. A member has right to receive ​​ dividend on equity/surplus deposits out of profits earned during the period on such rates as are decided by the ​​ 

Board of Directors from time to time. ​​ 

iv. A member has right to receive ​​ dividend on equity/credit capital ​​ out of profits earned during the ​​ period on such rates as are ​​ decided by the Board of Directors from time to time.​​ 

Present Article​​ 

Proposed Article​​ 

​​ The supreme authority of the cooperative will be General Body. The number of the members may increase from time to time so it will not be possible to conduct the general Body by inviting all members of the cooperative so a representative general body will be called in which at least 5% of total members will be invited to participate by giving a written published/electronic notice stating time, date and place of meeting along with statement of business to be transacted. For the purpose of​​ selecting 5%members, selection will be on the basis of quantum of equity holding in the cooperative by any individual. The​​ 

​​ The supreme authority of the cooperative will be the General Body, comprising of all the members of the cooperative.​​ 

For effective and in time decision making regarding the smooth functioning of the cooperative, a Representative General Body of the cooperative is created to transact the routine business of the General Body. The said General Body comprises of all core members and all​​ such general members who each would have introduced ten persons to the cooperative for grant of membership. The Representative General Body shall be competent to take all steps that may​​ 

General Body shall be competent to take all steps that may be​​ considered necessary in the interests of the cooperative. The General Body will be held at least once a year to transact the following business:​​ 

be considered necessary in the interests of the cooperative. The General Body/ Representative General Body meet will be held at least once a year to transact the following business:​​ 

Present Article​​ 

Proposed Article​​ 

Present Article​​ 

Proposed Article​​ 

i.The initial authorized capital of the​​ 

Crescent Cooperative​​ 

Ltd.(CCL)Anantnag​​​ will be Rs.​​ 

2,00,000.00 made up of ​​ 700 shares. There will be two categories of shares, category A of Rs 500 ​​ and Category B of Rs 200 only. vi. a) Deposits will be accepted from associate members in shape of​​ savings, current, fixed deposits.​​ 

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​​ 

• Deposits will also be accepted from religious/educational institutions run/managed by its members on the principle of ‘wadiah’ i.e safe keeping.​​ 

​​ 

• Deposits will also be accepted as premium to voluntary compensation fund (Tafakul Fund ) of its members.​​ 

i.The ​​ authorized capital of the​​ Crescent Cooperative Ltd. (CCL) Anantnag​​​ will be Rs. 5,00,000/- made up of ​​ 1000 equal shares. The value of each share will be Rs 500. ​​ 

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vi. a) Funds in the form of equity capital,​​ deposits and loans will be accepted from members/associate members to run the business of the cooperative.​​ 

• Funds will also be accepted from​​ 

members/associate members/institutions run and managed ​​ by members of the cooperative on the principle of ‘wadiah’​​ i.e safe keeping.​​ 

• Funds will also be accepted as contribution to voluntary compensation fund of the cooperative (Takaful Fund).​​ 

In case of any dispute relating to the constitution, management or business​​ of cooperative arises among members the dispute shall be referred to Arbitral Tribunal. ​​ 

In case any dispute relating to the constitution, management or business of the cooperative arises among members the dispute shall be referred to Arbitral Tribunal for settlement.  ​​ ​​ ​​ ​​ ​​ ​​​​ The said Arbitral Tribunal will consist of four members elected by the General Body of the cooperative from among its members or others and headed by the Deputy Registrar Cooperatives District Anantnag. ​​