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Sub No.12:– (Providing complimentary gifts to members of the society during
festivals)

File No.EB1/53/TTD ECCS/2023.

The TTD ECCS Ltd., Tirupati was established in the year 1939, for meeting
financial needs of the needy TTD employees under the lines of Cooperative Movement.
The society was registered under A.P. Cooperative Societies Act, 1964.

As per Byelaw No.6(j), the society can take up and carry out various welfare
measures to the members. For carrying out some welfare activities, provision was made in
the byelaws of the society vide Byelaw No.40(6), as per which, 15% of balance of net profits
shall be credited to the Members Welfare Fund. Apart from it, 1% of interest amount
charged on loans from members shall be credited to Members Welfare Fund for utilising the
same for insurance coverage of loan sanctioned to members.

At present, as per Byelaw No.52(b), the society is honouring children of members
who excel in studies and similarly, as per Byelaw No.52(c), the society is honouring
members / children of members who excel in sports & games, duly meeting the expenditure
from the Members Welfare Fund.

During the F.Y 2023-2024, an amount of Rs.62,04,202/-is available in Members
Welfare Fund out of which, only Rs.54,53,987/- was spent for various purposes as per
provisions made in the byelaws and still an amount of Rs.7,50,215/- is available surplus as
on 31-03-2023.Similarly, for the F.Y 2024-25, an amount of Rs..2.58 Crores is expected for
Members Welfare Fund out of which, sufficient funds will be surplus even after spending for
various purposes as per byelaws.

It is proposed to give complimentary gifts to members i.e. Crackers gift box worth
Rs.500/- and Sweet box worth Rs.300/- to each member (except defaulters) during
Deepavali festival every year. Similarly, proposed to give above complimentary gifts to TTD
officials and Cooperative officials, etc., not exceeding 100 in number. As on today, there
are 6,276 members in the society and the estimated annual expenditure will be (Rs.800/- x
6,276= Rs.50.20 lakhs).

As such, the subject is placed before the Board of Directors for taking a decision on
the proposal on 08-02-2024, It is resolved to provide any gift not worth more than Rs.500/-
to each existing member and TTD Officials, Cooperative officials, etc., not exceeding 100 in
number.

Hence, the subject is placed before General Body for taking a decision on providing
any gift not worth more than Rs.500/- to each existing member and TTD Officials,
Cooperative officials, etc., not exceeding 100 in number, once in a year during any festival
occasion duly meeting the expenditure from Members Welfare Fund.

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