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CO-OPERATIVE SOCIETY - MDev Law
... - The Annual General Meeting of the society should be held ... the report of the preceding co-operative ... in a Co-operative Housing Society, ...
http://mdevlaw.com/faqs/co operative society/co operative society.doc
February 13, 2013
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TG
Ref. “Further in most of the
States, Statutory audit is not required..... to be carried out by a Chartered
Accountant compulsorily. Accordingly, this sector faces a risk of low
governance which needs to be addressed through the respective State Cooperative
Laws.”
Sorry! To one’s knowledge, the
field reality seems to be quite different. In fact, in Kar, Bangalore, it is a
CA, who is by and large engaged for audit of Hsg. Society(ies). Nonetheless, no
care whatsoever is taken to report or qualify report whether even some of the basic requirements of the
spl. law (e.g. in Kar the law is KAOA) have been complied with. To be precise,
one such vital requirement / mandate is due and proper registration of ‘owners’
association’ as “...AOA” under KAOA. But , mostly not done; instead, done under
another unrelated Act – KSRA and as RWAs.
Still, the accounts audited are reported to be as of a properly
registered Owners’ Association. That and
several other deficiencies in audit which appear to have contributed to the
long prevailing,- with no awareness or awakening at all thus far,- totally
messed up state of affairs in this area.
For knowing more, copious material in public domain need to be looked at. The
Institute supposed to be in governance of the practising professionals in this
field, so far as one knows, does not seem to have taken even a baby step to
bring about any marked improvement in the obtaining sordid state of affairs. Better
that is cared to be done, with no
more disenchantment or procrastination.
'Can't charge flat buyer extra for parking slot'
Better be aware, and specially note:
1. 'Flat' and "Apartment' are basically two distinct types of property governed by two separate enactments of States.
2. Scheme of things applicable thereto under the respective enactments is materially different .
3. The rulings of the SC and the Consumer courts relate to ‘flats’, as is common in cities like Mumbai, in a building registered as a housing society and as such, in terms, apply only to flats; not 'apartments' -as is the case in cities like Bangalore, the purchasers of which are obligated to form an 'owners' association' as per the law applicable to apartments.
For knowing in greater detail, not only the intricacies of the law but also the problems commonly being faced by the gullible buyers as a 'community, especially purchasers of flats in Mumbai, and of apartments in Bangalore, self-help being the best help, also any day reliable, recommend to spare no pains to go through the copious material available in public domain- mainly the popular websites such as, - citizenmatters, commonfloor and apartmentadda..
The problems mentioned are mainly attributable to the reality that State governments have never cared to strictly implement and rigidly enforce the said special laws, albeit in place on the statute book for decades now.
:
-
articles.timesofindia.indiatimes.com › ... › Parking SpacesFeb 29, 2012 - MUMBAI: The Maharashtra State Consumer Disputes Redressal Commission recently held that a builder has no right to sell stiltparking or ...
9th June
vv IMP> http://www.smartsociety.in/
http://www.odisha.gov.in/co-operation/RegCoopSociety.as...
The karnataka
http://dpal.kar.nic.in/11%20of%201959%20(E).pdf
operative development under the Second Five-Year Plan should be drawn up to .... Co -operative Societies Act , 1959, an order, decision and award made under ..... (i) to define primary societies, secondary societies, federal societies and apex...
MODEL BYE – LAWS OF COOPERATIVE HOUSING SOCIETY
sahakarayukta.maharashtra.gov.in/...Acts.../Model_ByeLaws_of_Housin...
'year' means -
The Interpretation of Laws and General Clauses Act, 1974
www.mpil.de/.../the_interpretation_of_laws_and_general_clauses_act.pd...
8th June
http://www.apartmentowners.ie/clear-as-mud/
AT
Residents will soon have to evacuate the dangerous buildings: Housing Ministry
It has been quite a long -long way- ‘miles’ - traversed from the old days of chawls to the modern days of flats and apartments. Both have inherently immense problems with complexities galore. They are all attributable to the inevitable cavernous gap between any two individual's independent mindsets, more often than not centred or rooted firmly in that obnoxious self-centered self-motivated human behaviour- verging on 'inhuman'. That is a nature-given or created predicament, hence no way to bring about any reconciliation or meeting point between the two conflicting self-interests.
ICL
7th June
Conflicts between Shareholders Agreements and Articles of a Company
<> Instantly, not one but many debatable points arise, such as the following:
1. Under the company law, one of the aspects being touched upon herein, namely, 'transferability',- to be precise any restriction on "free- transferability", of shares, has a legal implication or significance of its own. In that, if there be any such restriction in the articles, then, going by one's impression(open to correction), the complexion/classification of the company itself will be different. Reference is to the definition in law of the terms "public company" and "private company".
Incidentally, it calls for a special noting, any such conflict between the SHA and Articles is basically of a ‘contractual’ type. And, is prima facie distinct from any conflict or non-compatibility often giving rise to disputes , being between two statutes - say, the decades-old Transfer of property Act and a statute coming into force at a later point in time e.g. the state special enactment on "Apartments" (being a property clearly distinct from a wholly owned independent house property solely governed by the TP Act).
Nonetheless, a study of decided court cases on the latter mentioned type may possibly provide useful clues and guidance on the former.
Simply sharing above own spontaneous thoughts. Hoping to have made them sufficiently clear, the earnest suggestion to law experts is to consider whether or not the subject matter requires a multidimensional approach for coming to proper or better conclusions.
< Previous
Bom HC on ROCS > arbitrator for dispute resolutin
in the high court of judicature at bombay ordinary original civil ...
bombayhighcourt.nic.in/data/judgements/2012/OSARBP123710.pdf
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30th May
AT news
BL
28th May
RASHEEDA BHAGAT
Where values go for a six
Confronted with overwhelming levels of corruption, who can blame Indians for losing faith in religion, sorry, cricket? »NOT UNRELTED>
cross refer>
- "EQ"
ALSO refer. ICAI Journal May 2013 -
Art pg
www.diehardindian.com/
MC's Duties and Powers ? >
xcerpts:
A. A committee member of a Co-operative Housing Society is a public servant as defined under section 2(c)(ix) of the Prevention of Corruption Act, 1988.
If a person’s name is not appearing in Share Certificate as a Registered Member or as an Associate Member, he has no right to enter in Managing Committee.
B. What is the latest on M-20 bonds to be signed by committee members?
The provision of Mandatory signing of M–20 Bond by Members of Managing Committee has been abolished by the state government w.e.f. 06.09.2012 (G.R. CSL number – 2012/PK402/15-S). It is construed that the pending cases, prior to 06.09.2012, will still be covered U/s. 73(1AB) of MCS Act, 1960.
In case there are aggrieved members, hereafter should exploit the use of Consumer Forums/ Courts and Bye-Law no 136 of the old Bye-Laws and Bye-Law no 138 of the new Model Bye-Laws, which read as under:-
"The members of the Committee shall be jointly and severally liable for making good any loss which the society may suffer on account of their negligence or omission to perform any of the duties and functions cast on them under the Act, Rules and Bye-laws of the Society."
* >>>>>>>>>>>>>>>>>>>>>>>>>>
Relevant Provisions for Accounts and Audit of Housing Societies
Housing Societies have to function within the frame work of following provisions: .... Theauditors also required to send a copy of the Auditor report to the ...wirc-icai.org/wirc.../Provision%20for%20Accounts%20and%20Audit.ht...[PDF]
Accounts and audit of the society
www.wirc-icai.org/material/ACCOUNTS&AUDIT.pdfrecords by a Co-operative Housing Society under the Central Act. However, the ... g) Receipts of the collection of charges transfer fees and other funds of the society. ...Every society shall keep at the registered address of the Society, a copy of .... (a) Every society is required to submit Audit Rectification Report on the audit ...
Empanelment of Auditor for Audit of Cooperative Societies - TaxGuru
taxguru.in/...accountant/empanelment-auditor-audit-cooperative-societies...
Mar 8, 2013 – 6) The documents shall be submitted in Xerox copies duly attested, no original copies shall be sent. The original copies may be verified, if required, before finalization of ... (1) (a) The society shall cause to be audited its accounts at least ....Housing Co-operative societies, to appoint empanel CA as auditor ...
Is your housing society using the maintenance charge for your benefit?
Oct 15, 2012 – You could call him the Arvind Kejriwal of his housing society. ... fund of the cooperative housing society, when not required immediately, must ... internalauditor and the account statements should be submitted for audit to the ...
Audit Co-Op Soc - jadhavauditor
jadhavauditor.hpage.co.in/audit-of-co-operative_11045643.htmlAudit of Co-operative Housing Societies in MAHARASHTRA ... 5) The Indian Contract Act 1872, Transfer of Property Act 1882 & Sale of Goods Act 1930. ... Sec.81(1)(b) – Other societies to get accounts audited from panel of auditors ... Rule 69(7) – Summary of Audit Memorandum prepared by the Auditors required to be ...
Society Act - BC Laws
www.bclaws.ca/Recon/document/ID/freeside/00_96433_01Amendment of financial statements and report ... statement without delay and send it to the auditor. ... (b) the directors must mail to the members a copy of the ... 53 (1) For the purposes of an audit under this Act, the ... the time within which a society isrequired to hold an ...
The Cooperative Societies Act 1925 - Punjab Laws Online
punjablaws.gov.pk/laws/32.html
Address of societies. 21. Copy of Act etc., to be open to inspection. 22. Audit. ... 59-A.Transfer of property which cannot be sold. .... with the object of obtaining for its members the credit, goods or services required by them; ..... (1) Every housing and producers' society, in addition to the audit of accounts under section 22, shall ...
Adopt New Model Bye-Law before 30th April | Consumer Resources
consumerresources.in/.../adopt-new-model-bye-law-before-30th-april/Mar 10, 2013 – It has become necessity for all the co-operative housing societies to call for a Special General Body Meeting before 30.04.2013 to adopt the ...
Audit Circular - Registrar Cooperative Society
rcs.delhigovt.nic.in/regcop/act01%5CCH5.HTMAll Group Housing Societies, which have been allotted land until the ... for the sameauditors, who have been engaged by the society for their accounts/internal audit. ... All the Coop societies required to follow this direction strictly failing which ... 53 of Delhi L.c'operative Societies Act, 1972, should send a copy of their audit ...
CO-OPERATIVE HOUSING SOCIETIES ACT 1958
www.austlii.edu.au/au/legis/vic/consol_act/chsa1958320/
Formation and registration of co-operative housing societies 4A. ... Application for merger or transfer of engagements between societies 12. ... Registers and accounts40. ... Auditor to submit report Division 6-Directions of Registrar 44C. ... Audit 57. Financial year Division 3-Valuations 58. Valuations of property to be made ...
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