HCBA elections postponed

Srinagar, July 14 (VOS): The Jammu and Kashmir High Court Bar Association has postponed its annual elections in view of the month of Holy Ramazan.

According to a press statement issued by the Bar Association, the General body meeting of the J&K High Court Bar Association held today at Sadder court Complex Srinagar, it was decided by a majority vote to postpone the annual elections of the Bar Association which shall be conducted after the month of Holy Ramadan.

“In terms of the Article 11 of the constitution of the J&K High Court Bar Association the elections were due by 31st of July 2012, since the Holy Ramadan starts from 20th of July 2012 and 67 lawyers had submitted a written resolution to the Bar Association for postponement of the elections of the Bar Association. The executive committee of the Bar Association decided to refer the issue to the general body and accordingly the general body meeting was convened today at Sadder Court complex Srinagar in which the request for postponement of the elections was discussed and deliberated upon. Most of the speakers on the occasion opined for postponement of the elections and accordingly the reference was made to the members sitting and voting in the general body meeting”, read the press statement.

J&K Bank holds 74th AGM

“Expanding Frontiers, Consolidating Capabilities and Sustaining Growth”

100 Business Units, 200 ATMs to be added to network: Chairman

Srinagar, July 14 (VOS): The Jammu & Kashmir Bank held its 74th Annual General Meeting (AGM) of its share owners here today which approved the payment of record high dividend of 335% to the Bank’s share holders.

The theme of AGM was “Expanding Frontiers, Consolidating Capabilities and Sustaining Growth”.

Addressing the meeting, which was attended by a large number of shareholders of the bank from different walks of life, Chairman and CEO Mushtaq Ahmad appreciated the share owners for their unflinching support saying, “The Bank is poised well to open new chapters, new hopes and new opportunities for the people of state particularly youth and lead their lives towards better and brighter economic tomorrow.”

Visibly composed to share his delight with shareholders he said, “The total business of `86,432 Crores and a Net Profit of `803.25 Crores is the highest ever posted by the Bank in its history.

“This is despite the economic uncertainties and concerns the world over as also in the country that our Bank delivered another year of consistent growth. Our core business growth is testament to our unique value proposition and a clear upward trend across business volumes, revenues and profits, surpassing all previous achievements.”

This unprecedented growth across all the spheres is on account of Bank’s sheer resilience and fundamental strength, he added.

Expanding its network across the state and beyond, the Bank has added 55 new Business Units (B.U) and 147 ATMs during the FY 2011-12, which shot up the number of B.Us to 603 and ATMs to 508.

Chairman informed the gathering that the policy will be pursued vigorously during 2012-13 in which around 100 new Business Units and 200 ATMs will be dedicated to people mainly in unbanked and under-banked rural areas of the State.

The Bank, he said, plans to recruit few hundred educated youth to keep pace with its expansion policy.

Speaking about the targets set by the Bank for the current FY, he said, “your Bank is well positioned to achieve the target of 100,000 Crore business, with 1,000-Crores net profit by March 2013. And this would be Platinum Jubilee year, i.e. 75th year, of our illustrious journey and we would celebrate it in a suitable manner.”  

Company Secretary Abdul Majid Bhat read out the auditors’ report and business agenda of the meeting.

Afterwards the resolutions were approved by the shareholders according to the set procedural norms. The meeting also approved the re-appointment of two Directors for the Bank’s board namely, Mohammad Ibrahim Shahdad and Vikrant Kuthiala.

During the question answer session shareholders applauded the role of the bank and urged that bank should further the process of employment and  industrial and trade promotion.

Militant held in Handwara

Srinagar, July 14 (VOS):: Police arrested one militant of Al-Barak outfit in the Handwara district Friday evening, sources said.

During Naka checking at Chogul, Police apprehended Mohammad Jamal Bhat son of Abdul Aziz resident of Sodal, said police spokesperson.

However, no arms were recovered from his possession. Police Handawara has registered a case and investigation is on.

Congress aghast over statements against Taj, condemn them

            A meeting of the senior workers of Baramulla Congress committee was held today at Baramulla under the chairmanship of District President, Mir Mushtaq Nowshehri. The meeting was attended by Block Presidents, tehsil Presidents, Sarpanches and senior workers of the district.

            The meeting took a serious note of the statements issued by senior NC leader and former Minister, Dr. Mustafa Kamal against a towering leader of the district and PHE, Irrigation & Flood Control Minister, Taj Mohi-ud-din. The meeting condemned the statements terming them uncalled for, irresponsible and unfortunate.

            A statement issued after the meeting said not only the state but the whole country, including chief minister Omar Abdullah, is appreciative of the work done, competence and hard work done by Taj Mohi-ud-din. It is due to his sustained efforts that J&K has been able to consolidate its water resources and soon we would be getting back our power projects after the pressure mounted by our leader on central govt. Already the state has been getting Rs. 1000 crore income as water usage charges from NHPC due to the efforts of Taj Mohi-ud-din.

            The statement said at a time when Mr. Kamal should have been counting the achievements of coalition govt., he chose to issue statements which are irresponsible, detrimental to coalition dharma and factually incorrect.