The Simpson & Group Companies Employees Co-operative Society is basically a credit organization. This Co-operative movement traced back its origin in 22.12.1951 and the date of functioning from 26.01.1952 and this Co-operative Society was organized by the "three stalverts", namely (i) Hon'ble Former President of India Thiru. R. Vengataraman, (ii) secondly Thiru.S. Anantharamakrishnan (1905-1964), affectionately called "J" was a Tamilian industrialist and a business tycoon who founded and led the Amalagamations group of industries. He served as the Chairman of the group from 1953 till his death in 1964. And the third one is (iii) Great Union, leader Thiru. K. Gurumurthi. In the beginning the society was registered under Tamil Nadu society was registered under Tamil Nadu Co-operative Society's Act 1939 (State Act) and subsequently converted into Multi State Co - op., Society.
Immediately after registration in the year 1952 December, Saturday the 27, Mr. AMRIT LAL JADAV, Hon'ble minister of Co-operation, State of Rajasthan visited the society. According to English daily "The Mail" made the following observation:
"... The Hon'ble Minister spent half an hour studying the working of the society and the Minister at the end remarked "you have made wonderful progress in less than a year's time and it is noteworthy that 75 percent of the employees have joined as members"
Initially the society acted as multipurpose dealing in both consumer and credit activities. A joint Purchases Committee was appointed to procure consumer articles at a cheaper rate outside the State. This Joint Purchases Committee was more useful, as most of the consumer articles remain short-supply. Therefore the Purchase Committee ventured out to other state where the consumer article sold at cheaper rate for procurement on large quantity in order to help the members to avail the short-supply of consumer articles at cheaper rate. The Society also was dealing in textile materials, sarees and etc., confiscated by the Government through the Customs Department.
Lesson the society learnt (from 1971 - 1979) & Subsequent RecoveryLesson the society learnt (from 1971 - 1979) & Subsequent Recovery
The management of the Society right from the inception looked after the affairs of the Society with great commitment. On completion of 20 years of successful working the Board of Directors who was then in the helm of affairs were responsible for the mismanagement in the consumer article dealings. On account of this mismanagement, the management of the society shifted to the hands of Government officials by appointment of Special Officers and entrusted the management in the hands of Government officials from the year 1971 to 1979. The Society has not witnessed prosperity since it incurred only loss during the period of Special Officers. Subsequently it started earning profit on the assumption of "elected board" from the year 1982 - 1983 onwards. The profit for the year 2007-2008 & 2009 Rs. 50.14 Lakhs and Rs. 50.50 Lakhs respectively.
However the scenario changed drastically with the assumption of office of the elected Board of Directors under the President ship of Shri. C. GOVINDARAJULU a new "worker-leader" in the year 1982 and till date the Society is under his continuous guidance, and leadership barring the period from 04.04.1989 to 31.03.2009.
Campus : The Simpson & Group Companies Employee's Co-operative Society Ltd., Head office owns its premises located at No.1, Desi Colony, Perambur High Road, Chennai - 600 012. Society's plinth area spread over to 13,800 Sq.ft., 1 + 3 floor building. The Society located its Hospital, Administrative Office and I.T.I. Training Institute with workshop in the same premises. (In each floor)