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Saturday, Jan 17, 2004

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Coimbatore Aavin declares dividend

Our Bureau

Coimbatore , Jan. 16

IT has been a milestone achievement. For the first time in the history of dairy co-operatives in Tamil Nadu, Coimbatore Aavin declared a dividend (of 9 per cent) and disbursed the same. The outgo on this account was Rs 6.2 lakh.

The Managing Director of the Coimbatore District Cooperative Milk Producers' Union Ltd, Dr A. Subramaniam, told Business Line that the District Collector, Mr N. Muruganandam (who is the Special Officer of the Union), had resolved in March 2003 to appropriate the profits to its shareholders for eight years between 1982 and 1990.

He further said that Aavin, Coimbatore had managed to clear all its dues to the National Dairy Development Board much earlier than the loan tenure.

More Stories on : Dairy & Dairy Products | Tamil Nadu

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