Daijiworld Media Network – Mangaluru

Mangaluru, Sep 20: The 36th annual general meeting of Pragathi Cooperative Society Ltd, Kulshekar, Mangaluru, was held successfully at Cordel Hall, Kulshekar, on September 20 under the chairmanship of society president Jossy Sequeira.

The meeting began with prayers and the lighting of the lamp, followed by a tribute to members of the society who passed away during the previous year. The president welcomed the gathering and addressed the members.

The minutes of the 2024-25 annual general meeting and the annual administrative report for 2025-26 were presented and approved. The audited income and expenditure statement, profit and loss account, and balance sheet for 2025-26 were also presented and approved.

In view of the profit recorded by the society, the general body approved a 14% dividend for its members.

The meeting also approved the allocation of net profit for 2025-26, the estimated income and expenditure for 2026-27, expenditure exceeding the budget, appointment of auditors and the action plan for 2026-27.

As part of the special programme, meritorious students among the children of society members were felicitated. Students who excelled in academics and sports were honoured in recognition of their achievements. Medical assistance was also provided to those in need, while award-winning teachers were felicitated.

Discussions were held on the development of the society, the welfare of members and its activities for the coming financial year. Members noted that their cooperation and active participation have played an important role in the growth of the society.

The president, vice-president, directors, chief executive officer and members of the society were present.

Director Romans Lobo compered the programme. The meeting concluded with the national anthem, followed by a community lunch for the members.