Government receives RS 22.5 lakh as dividend from GSCHFF

 

The Co-operation Minister, Mr Deepak Dhavalikar, handed over a cheque of Rs 22,50,533 to the Chief Minister, Mr Manohar Parrikar, towards payments of the dividend amount payable to the government for its share holding in the Goa State Co-operative Housing Finance and Federation Ltd, for the financial year 2011-12 in the chamber of Chief Minister Assembly Complex at Porvorim on Thursday.
 
Mr R K Pikale, chairman CA and other directors of the Housing Federation namely Ms Shubhangi Sardessai, Mr Prabodh Patyenkar and Mr Uday A Narvenkar were present on the occasion.
The Federation has declared 10 per cent dividend to its share holders for the financial year 2011-12.  The Federation has so far paid to the government an amount of Rs 3.08 crore by way of dividend since inception on its share holding in the Federation.  Government has invested Rs 3.34 crore as share capital out of which Rs 1.25 crore has been refunded over the years in addition to dividend.
 The Goa State Co-operative Housing Finance and Federation Ltd is an apex state financial institution exclusively catering to the needs of the co-operative housing sector and extending loan facilities to co-operative societies and individual members. [NT]