Kamal Kant Sharma removed as Director of Chandigarh Cooperative Bank
Babushahi Bureau
Chandigarh, July 23, 2025: In a significant development, the Board of Directors (BoD) of The Chandigarh State Cooperative Bank Ltd. has resolved to cease Shri Kamal Kant Sharma from holding the office of elected Director with immediate effect. The decision was taken during the BoD meeting held on April 28, 2025, and was attended by 9 board members.
The action was initiated under Registered Bye-Law No. 36 of the Bank, after Shri Sharma failed to attend three consecutive Board meetings held on January 22, February 10, and March 13, 2025. Despite receiving official notices from the bank for each of these meetings—vide letters dated 07.01.2025, 24.01.2025, and 05.03.2025—Sharma remained absent without citing valid reasons. His continued absence was duly recorded in the BoD’s official proceeding books.
“In view of Shri Kamal Kant Sharma’s failure to attend three consecutive board meetings, the Board exercised its powers and passed Resolution No. 6 (i) during the meeting dated April 28, 2025, thereby ceasing him from office,” stated Anuradha S. Chagti, Managing Director of the Bank, in an official communication to the Registrar of Cooperative Societies, UT Chandigarh.
The cessation was approved in accordance with the rules and powers conferred under the Bank’s Registered Bye-laws, ensuring adherence to procedural integrity and governance standards within the institution.