Mumbai housing societies have not audited from 3yrs says, state co-operatives department

Mumbai housing societies have not audited from 3yrs says, state co-operatives department

By Accommodation Times News Service

Office-bearers in a majority of societies in the Mumbai metropolitan region (MMR) have not appointed auditors for the last three financial years, revealed the Maharashtra cooperatives department officials.

Only 7,000 societies in the MMR have qualified auditors examining their account books, which mean that large sums of maintenance funds contributed by residents have remained unmonitored and unaccounted for, said officials. “To ensure that these societies remain accountable to their residents for every rupee collected from them, the registrar of cooperatives has appointed auditors for each of the societies whose accounts have not been audited. These auditors will approach the society,” said an official.

Guidelines mandate that societies appoint auditors before July 31 annually and intimate the department about that. Similarly, societies have to submit their audit reports by August 31 ever year. The amendment came in force between 2013 and 2014 but many office-bearers of societies remain in the dark.

If a society’s account books are not audited, then its office-bearers are not allowed to convene annual general meetings or any dealings. A society cannot conduct elections, if audit reports are not submitted. The management committee members are liable to face departmental and judicial action.





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One thought on “Mumbai housing societies have not audited from 3yrs says, state co-operatives department

  1. Societies are facing great difficulties whether they conduct timely audit or otherwise. The elections are grossly mismanaged.I have made several complaints but no response from the Registrar. Mainly the complaints are of defaulters. A defaulter member is permitted to contest m.c election. A complainant is given more importance if he is a defaulter. A complainant has forged visiting card of office bearer, but the Registrar fails to take note and given him to contest election overlooking the outstanding dues.

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