As per Multi State Cooperative Society Act 2002 and Society Byelaw - Thiru.A.Dhamodharan, Thiru. S.Ponnambalam, Thiru. D.Udhayakumar, Thiru.A.Raman and Thiru.K.Vengatesan are removed from Membership of the Society on 1.5.2016
:: Geset's
The Simpson & Group Companies Employees Co-operative Society Ltd., having two important units namely Hospital & Industrial Training Centre / School registered under Central and State Act., respectively, under its control of mighty hand. These two units are 2 eyes of the Co-op Society and running with the financial support of the society. In addition, the society is also running aCommunity Hall by taking lease of the Chennai Corporation building.

The funds of the society are diversified to run the Hospital, I.T.I. and the Co-op Society. Except the Co-op Society other institutions are now financed on need basis. The Society was originally borrowing funds from the Chennai Central Co-op Bank and now settled 1/3 of its loans. Now there is no borrowing from the Central Co-op Bank, totally running on its own leg by borrowing Deposits. The Present financial position of the Society is sound. It has to repay Rs. 11.16 crores to central Co-op bank, where as the ‘Members Loan Outstanding' is Rs. 15 crores. The Society has Rs. 13 crores as its Deposits and the remaining Rs.13 crores as its own fund. By Prudent lending and diversion, the Society has earned a net profit of Rs. 60 Lakhs / The running of Hospital is a welfare measure and not on profit motive.
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The Simpson & Group Companies Employees' Co-operative Society Ltd.,
No.1, Desi Colony, Perambur High Road,Chennai - 600012.
Phone No.044-65474724,26624778,65474725
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