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Showing posts from March, 2012

Special General Meeting (SGM) and related matters..

Special General Body Meeting Special General Body Meeting A special general body meeting of the society may be called at any time, at the instance of the Chairman or by the decision of the majority of the Committee and shall be called within one month of the date of the receipt of requisition in writing, signed by at least 1/5ths of the members of the society of or from the Registering Authority or from the Housing Federation to which the Society is affiliated. The meeting so convened shall not transact any business, other than that mentioned in the notice of the meeting. The requisition for the special general body meeting of the Society, under the bye-law No.99 shall be placed within 7 days of its receipt before the meeting of the Committee by the Secretary of the society, for fixing the date, time and place for the special general body meeting of the society. The committee shall decide the date, time and place of every general body meeting shall be only that mentioned the requ...

Guidance regarding issues faced by Co-operative Housing Societies

Maharashtra CHS Act Society dues in following circumstances cannot be recovered under section 101 of M.C.S. Act, 1960. Ramesh S. Prabhu Chartered Accountant Non-Members-Pending Formalities In case of the flat owners type of Society whether formed with the Co-operation of the Builder or Non Co-operation of the builder, we always find some members do not become the members of the Society. If the flat owners does not become the member, the case u/s. 101 cannot be filed. LEGAL HEIR / NOMINEE NOT ADMITTED AS MEMBER When a member expires keeping a huge of amount of Society dues and the legal heirs / nominees also do not pay the dues nor they become complete the necessary formalities to become the member, in such cases also recovery suit u/s 101 cannot be filed. FUNDS MISAPPROPRIATED BY THE MEMBERS/OFFICES BEARERS In many cases the office bearers of the Society commit misappropriation or fraud of the Society funds. Even after proving such fraud /misappropriation the recovery cannot b...