Solutions of Some Society Issues

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      When should the First General Body Meeting be held?

Ans. As per Rule No.59 of the MCS Rules the General meeting should be held within 3 months from the date of registration. On default committed by the Chief Promoter, the Registering Authority can take action to convene the First General Body Meeting.

      What is the procedure to convene the First General Body Meeting and who can attend this meeting?

Ans. The Chief Promoter/Registering Authority as the case may be, has to give 14 days clear notice to the promoters who had sign the application for registration and only they can attend the meeting.

      What are the matters to be discussed at the First General Body Meeting?

Ans. (1) Election of a President

        

          (2)  Nothing/Recording of Bye-laws of the society

   

         (3) Admission of purchaser/promoters who have not signed the application for registration

         (4)  Election of Provisional Managing Committee

         (5)  Applying to the District Co-operative Housing Federation

      (6) To receive the statement of accounts and reports 14 days prior before the meeting

         (7)   Reviewing and proposing the work to be carried out – Applicable only for Open   Plot Societies

         (8)    Fixing the limit of borrowing as laid down in Rule No.35 of MCS Rules;

   

         (9)    Appointing Internal Auditor to audit, if necessary

 

        (10)  Confirming the agreement for purchase for purchase of a plot/building, entered   into by the Chief Promoter, with the vendors and to authorize the committee to secure conveyance of the plot/building in the name of the society.

         (11) To approve the site plan and the scheme of construction (Applicable only to      Open Plot type of societies)

     

       (12) To authorize one of the members of the members of the Provisional Managing Committee to call the first meeting of the Provisional Managing Committee.

      What are the Primary responsibilities of the Provisional Managing Committee?

Ans. To elect the office bearers – Chairman, Secretary and Treasurer

     

         (1) To collect records from the Chief Promoter

      (2) To close the bank account in the name of proposed society/in promoters name.

 

      (3) To open the bank account in the name of the society in District Co-operative Bank

      (4) Prepare Seal (rubber stamp) and Stationery i.e. letter head, bills, receipt, voucher etc. of the society

      (5) Consider the limits up to which funds can be raised in case of Open Plot Society

      (6) Raising, utilizing and investing of Funds

      (7) Finalisation of Accounts

      (8) Holding of Annual General Meeting.

      Can the society open a bank account in a nationalized bank?

Ans. Yes, after taking permission from the Registration Authority for day to day transactions. However, the fund has to be invested in State/District Co-operative Bank only. It may be noted that any interest earned from other than co-operative bank is taxable.