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The meeting of cooperatives, convened under the chairmanship of Mr.Velayudhan Vallikunnu on 1st January 2007 at Parappanangadi, has decided to start AKG Cooperative Hospital at Parappanangadi. A 11 member promoters committee has been formed in that meeting with Mr.C.K.Balan as the chief promoter. The meeting also approved the by law of the society and an application has been submitted to the cooperative department for obtaining permission for collecting shares from individuals. The government approved the proposal and shares were collected from many people.

The director board of the Cooperative hospital was formed on 23rd August 2007. It elected Mr.C.K.Balan as the chairman, Mr.M.Krishnan Master as the vice chairman and Mr.P.K.Achuthan as the Hon.Secretary. A sub committee was selected to finalize the place for building the hospital. The committee found a place near the Parappanangadi court and signed a contract with the owner for taking the building for rent.

Initially the hospital will be a 50 bed one with operation theatre, ICU, Water treatment plant, centralized ac, OP, IP blocks and 24 hour pharmacy.

The share allocation program was inaugurated by Hon.Minister G.Sudhakaran on 2nd September 2007 at Parappanangadi. The registered office will be at Parappanangadi with operational areas include all places of Malappuram ditrict except perinthalmanna thaluk.

Share Capital 
The share capital of the hospital will be Rupees 15 Crores.
A-Class Shares : 5 Lakhs shares X 100 Rupees each = Rupees 5 Crores
B-Class Shares : 50,000 Shares X 1000 Rupees = Rupees 5 Crores
C-Class Shares : 5,000 Shares X 2000 Rupees = Rupees 1 Crore
D-Class Shares : 1,000 Shares X 1000 Rupees = Rupees 1 Crore
E-Class Shares : 2,000 Shares X 5000 Rupees = Rupees 1 Crore
F-Class Shares : 10,000 Shares X 2000 Rupees = Rupes 2 Crores
All members of A,B,C,D,E,F Class will be getting membership. Among these F Class members will not have operational limits.
A-Class :
Must be a resident with in the operational range having sound mental condtition and completed 18 years.
B-Class : For state and central government
C-Class : For Co-Operative Societies
D-Class :
Small scale industries, Local Bodies, Charitable Societies, Trusts, Regd. Socities
E-Class : Corporate business groups
F-Class :
They will not have voting rights. They don’t have the privilege to contest in elections. They can enjoy all the privilege for the members.
Admission Fees 
Rupees 25 fro A Class and Rs-100/- for F- Class. Other classes need not pay the entry fees.
Profit Sharing
15% of Net Profit will be transferred to reserve fund and 5 % to educational fund and the remaining 80% will be distributed as follows:
Depending upon the number of shares, the share holders will get an amount not more than 20%
Amount upto 10% will be set aside for charitable activities
A particular amount will be given to employees as bonus.
A percentage will be set aside for the insurance coverage of the Share Holders and Investors.
All the share holders are eligible for getting dividends. If the dividends remains unclaimed for three years, it will be added to the share capital. 
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