Sugarcane Commissioner issues instructions to Cooperative Cane/Sugar Mill Societies for distribution of share certificates to all shareholder farmer members


Lucknow: Commissioner, Cane and Sugar/Registrar, Cooperative cane and Sugar Mill Societies, Uttar Pradesh Shri Sanjay R. Bhoosreddy said that in order to make the functioning of cooperative cane/sugar mill societies fully transparent and accountable, instructions have been given to issue share certificate to shareholder farmers. For updating the records of these share certificates, the modules of share feeding in departmental ERP system have been developed. In order to this, all Cooperative Cane Societies have been completed 77% of the feeding work on ERP module.

Share certificate will be issued as per the arrangements given in the bye-laws of Societies, to all the eligible shareholders members who have deposited share money atleast one year before. In 169 Cane cooperative societies of the state 52.96 lakh are the total shareholders out of 56.73 lakh registered members, who have deposited share money of Rs.113.20 crores. Out of which, Rs. 81.07 crores share money feeding work of the 40.71 lakhs share holder members has been completed which is 77%. Share certificate distribution will be done very soon.

Giving detailed information about all the 24 sugar mill societies of the state, Shri Bhoosreddy said that the total number of shareholders of all the sugar mill societies is 11.28 lakhs, by which a total amount of Rs.160.53 crore share money has been deposited. Out of which, the share certificates worth Rs.118.26 crore have been distributed to the 9.05 lakh members farmers, that means share certificates have been distributed to 80 percent of the shareholder farmers. Distribution of remaining share certificates will also be completed very soon.

It is also noteworthy that for the first time in the history of the State, this decision has been taken to launch the campaign for distribution of share certificates to shareholder farmers. On receipt of the share certificate, the sugarcane farmers’ faith in the financial system of cane societies/sugar mill societies will be strengthened and this will inspire all the stakeholders to involve them with full dedication in strengthening the societies.

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