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

Co-operative movement facing a slow death

By S S Nair Accommodation Times Bureau   The Maharashtra  StateCo-operative Act, Rules and bye-laws were framed to encourage co-operative feeling among the people and as an instrument to inculcate the co-operative moment.   Whenever amendments of the Act, rules and bye-laws are made people were expecting that something new and innovative ways will be

Regulatory Board for Co-operative credit societies

By Accommodation Times News Service Government to safeguard the interest of small investors has decided to soon get a regulatory board to control the rates of loans and deposits and also raise deposits guarantee fund to insure deposits of investors of the societies which is in loss. Out of total 15,182

RTI ACT…for Co-operative Society, Applicability?

By Accommodation Times News Service By Adv.Hemant Agarwal In general anticipation of at least a consolation relief, scores of Society members and related activists have been consistently yearning for the Coop. Societies to come within the ambit of the Right to Information Act. CONTRARY to the increasing yearning!!!! : 01. Direct application of "Right

General FAQs on Co-operative Societies

By Accommodation Times News Service Q: How to proceed if the BMC Authorities are not responding to the Complaint lodged with them? Ans: Many times it so happens that an individual is writing various Letters to the Municipal Offices but for certain reasons replies are not forthcoming from the BMC Authorities. In

Maharashtra Co-operative Societies Act, 1960 – Amendments 2013

By Accommodation Times News Services Maharashtra Co-operative Societies Act, 1960 - Amendments 2013 vide Ordinance dated 14 February, 2013 By- Mr. Fazalahmed B. Khan Former Deputy Secretary, Urban Development Department, Government of Maharashtra 1. The recital of an Act

Condonation plans for co-operative housing societies: Noida

By Accommodation Times Bureau The hopes of individual flats owners in co-operative group housing societies in Noida Authority have been raised in terms of penalty paying for late registration in cases where original owners of flats are no longer traceable after the sale of properties. The Noida Authority three months back

Pay Rs.100 per day if co-operative flats not registered

By Accommodation Times Bureau Owners of unregistered flats in co-operative housing societies will now have to pay Rs.100 every day as fine from beginning of January 26,2012 which was set as the deadline by the Supreme Court. The Noida Authority had set a deadline of three months for all the unregistered owners

Formation of Co-operative Housing Society

By Adv. Vinod Sampat a) Formation of Co-operative Housing Society Practically every developer has to form a Co-operative Housing Society at one point of time or another. With the limited amount of options available with regard to management of the affairs of the building i.e. (a) Condominium (b) Private Limited Company and

Facts which are no commonly known about co-operative Societies

Facts which are no commonly known about co-operative Societies 1. According to Service Tax department, Co-operative societies are liability to pay Service Tax @ 12.24% on receipts excluding statutory payments, if the receipts are above Rs. 4,00,000/-. Interest @13% per annum and penalty upto 200% can also be levied by the authorities