Society Lawyer in Coimbatore
The Societies Registration Act was brought into effect in 1960 with the view to promote social welfare activities so that people could form a society and have enough resources and funds to achieve a well defined goal. Due to lack of funds and external pressures it was difficult to form society thus societys registration act came into force for the upliftment of the society.
Cooperative societies are of various types depending upon their objects and nature of work. Some of the cooperatives have been formed to help consumers and other have been established to help producers. There are some societies which help the farmers in providing credit for the purchase of fertilizers and seeds etc. and some help them in the promotion of trade. Housing Co-operative Societies are formed to provide residential houses to members. They construct houses and allot to their members. Some societies also provide loans at low rate of interest to members to construct their own houses.
Formation of a Co-operative Society under the Maharashtra Co-operative Societies Act. Briefly, an application has to be submitted to the Registrar of Co-operative Societies of the concerned state along with the bye-laws of the society containing the details about the society and its members.
Cooperative societies are not formed for profit motive. Amendment of the by- laws of a registered society shall not be valid until the same has been registered to the registrar. If the registrar thinks the amendment is valid he may register those amendments. After Amendment of the by- laws of a registered society is made by the registrar, a certificate of amendment is to be issued which will be the evidence that it is registered.
The registration of a society make it a body corporate by the name under which it is registered, like a company it has its own perpetual succession a common seal, power to hold property, to enter into contracts, to institute and defend suits and other legal proceedings and to do all necessary things. Key amendments Maharashtra Co-operative Housing Societies Act, 1960
The Amendments empowers active members of the Society and non-serious members of the Society cannot participate in decision-making process. Power to expel dormant members and/ or compel them to become active members is now extended to co-operative societies.
Administrators cannot be appointed for most co-op housing societies. However, active members may consititute “Authorized officer” or “Interim committee”. Regular training and education is prescribed to groom fresh leaders through Apex Co-operatives. Managing Committee members ought to attend regular training sessions at least once in five years.
Internal differences through ‘Grievance Redressal Committee’ has been encouraged. Co-op. court to encourage win-win compromise, and discourage litigation. Adoption of modern methods of management, record keeping etc is prescribed.
Fine and prison sentences have been substantially increased. Duty of auditors fixed, Registrar etc. to pinpoint responsibility for fraud and authorized to register FIR. Also, mandate for auditor to present audit findings including irregularities in every AGM. If they dont, Auditors will be disqualified.
Disqualification of errant MC members is made easy, and disqualified Managing Committee members shall be debarred for contesting for 5 years. State Election Authority shall monitor elections. Co-operative Housing Societies Lawyers in Coimbatore are active in advising on matters pertaining to Maharashtra Co-operative Societies Act. 1960 as amended from time to time. The Firm also assists clients in formation of Society under the Maharashtra Co-operative Societies Act. 1960 and advises various Societies on the same.