HOPCOMS: 10 directors, including president and vice-president, disqualified

As many as 10 directors of the HOPCOMS, including the president and vice-president, have been disqualified for the next five years by the joint registrar of Co-operatives, Bengaluru Region, for violation of co-operative norms.

In the order issued on November 28, the Joint Registrar of Co-operatives Ashwathnarayana has disqualified HOPCOMS President H.K. Nagaveni, Vice-president A.S. Chandre Gowda, and another eight directors on the charges of violation of norms related to the functioning of co-operatives.

These directors have been barred from becoming directors of any co-operative for the next five years, according to the order.

The action comes in the wake of an inquiry conducted against the administrative council of HOPCOMS on allegations of violation of norms, including unauthorised transfer of shares to appoint new associate members. The order states that these directors had failed to take appropriate action as per the findings in the inquiry report that had been submitted on February 14, 2023.

Published - November 29, 2024 11:31 pm IST