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By Legal Bureau

The Co-operative year 2019-2020 is coming to a close on 31st March, 2020 All Co-operative Housing Societies will have to attend to the functions to be carried out after the close of the Co-operative year. For the benefit of societies, we summaries the same as follows.
1. Close accounts of the society on 31st March 2020.
2. Prepare Receipts & Payments Statement and Income & Expenditure Account for proceeding Co-operative year as at 31st March, 2020 before May 15.
3. Submit copies of statements of accounts to the Deputy Registrar, C. S. of your ward and the auditor of the society by May 31.
4. If the time schedule is not likely to be adhered to, apply for extension of time for finalisation of accounts before May 15, with a copy of the Managing Committee resolution, justifying extension of time to the Deputy Registrar/Asst. Registrar of the ward.
5. Hold Annual General Meeting of the society on or before August 14.
6. If holding of the Annual General Meeting within the stipulated period is not possible, apply for extension of time to the Deputy Registrar of the ward before August, 14th, along with a copy of Managing Committee resolution explaining reasons for not being able to hold the meeting in time. Note that the maximum extension of time can be granted upto 14th November Stamp of Rs.1, is to be fixed on the application.
7. Also note the society has no authority to convene Annual General Meeting after August 14, if no extension is sought for or an extension is sought for, but or not granted or meeting is not held within the extended time.
8. Each member should have notice of the meeting of such period is mentioned in the old bye-law No.37, read with bye-law No.37, read with bye-law No.82(1) the relevant new buy-law in respect of flat owner’s society is100 read with bye-law No. 166, and in respect of Open Type of societies the relevant New bye-law is 102 read with bye-law no. 169).
9. Start Business of the meeting, if there is quorum as prescribed under old bye-law No.38 (New bye-law in respect of Flat owner’s society is 101 and in respect of open type of society is 103) if there is no quorum, follow procedure as laid down in bye-law No.38 (old).(The relevant new Bye-laws are Nos.101, 102, 103)
10. Do not postpone Annual General Meeting for want of statutory audit. Place before Annual General Meeting Statements of Accounts as finalised by the Managing Committee. The Annual General Meeting could accept them, subject to audit.

One thought on “Statutory obligations on the close of financial year in housing societies”
  1. To Ref. *Letter dtd 20 th July 2019 from Mr.Sadiiq Bhaiji – Chairman – Ashoka Shopping Center – G.T. Hospital – L.T. Marg -Mumbai – 400 001 Refusing Water Connection to Poly Clinic in Room # 49 Ground Floor of Dr. M.M. Ankolkar PhD (Rgd). MDS. MRSH London. PTILDSRCS England-Edinburgh. BDS.

    *Chairman : “Dr. M.M. Ankolkar Educational & Welfare Trust” Mumbai 400 010

    Vice Chairperson :Dr. (Mrs) S.M.Ankolkar -MBBS -Ex Medical Officer -E-Ward-Mumbai 400 008

    * Mr. Amin Sirguroh – Hon. Sec. signed on Stamp Letter – Dated 19 – 05- 2011 of Ankolkar to get a Plumber for Water Connection – Filter Water Connected in Wash Room which is just opposite to Poly Clinic of Ankolkar
    *Mr. Prashant Satpute (9423-544-335) – Ward – A-Mumbai 400 001 saw the Signature of Amin Sirguroh and had arranged meeting but Dr. & Dr. (Mrs) Ankolkar took Flight to Chicago – USA. Since Ankolkar to take further Treatment for his Damaged Vertebra due to a Fall on Wet Floor of Ashoka due to Negligene of Bhaiji & Management of Ashoka.

    *MRI/CT ( Jan 7 th 2013) from Bridge Candy Hospital were submitted to office without Response.

    *Ankolkar couldnot get water / throw water of patients due to pain in Spinal Cord. Mr. Pramod Salvi -the Office Bearer (2262- 0929-2265-8420) told the Visitor of Ankolkar “Why to go to Clinic of Ankolkar ? There is no Water Connection there” – The practice went down to almost nil. *The Dental Turbine “Siroboy”New Costing Rs.8 Lac 30, 000/- damaged due to Non Supply of Water

    *Ankolkar demands Rs. 8 Lac 30,000/ + Rs.2 Lac 30,000/- Total : Rs. 10 Lac 60.000/-from Bhaiji and his Management.
    *Ankolkar Demands Rs. 2 Lac 30,000/- for the Treatments of the Damaged Spinal Cord.Due to Pain

    *Ankolkar mailed the Reports dtd : Sept. 15-2021 from Dr. Michael Dolphin Bettendorf-Iowa-USA – mailed to
    Adv. Mr. Avinash Gokhale (9320-167 – 464) but he mailed the picture from Notice Board “If you fail to Pay
    the Maintenance the Matter will be to the Court” but why Notifications & Agendas Not sent earlier why Agendas were not mailed earlier to Ankolkar ?

    * Ankolkar Requesting from Court of Registrar to allow to hold the Maintenance and other Bills till the Water Connection to the Poly Clinic & to Recover the Damages of Rs. 10 Lac 60,000/- from Bhaiji and his Management.
    *Regards : Dr. M.M. & Dr. (Mrs) S.M. Ankolkar :Messages : 563-232-2936–563-514-5750- Bettendorf-Iowa-USA as we are waiting for completion of Treatments and to take Flight fro Chicago-USA to Mumbai
    Informations mailed about The *Name of Bank – *IFSC – *Code number to pay for Maintenance

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