co operative societie

7/29/2019 Co Operative Societie

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Akshat Awasthi - 65

Chetan Gala -

Bhupendra Gupta- 77

Abhinay Pokharna-88

Priyanka Poyrekar-89Parth Savla -93

Pranita Sharma -101

Rahul Sheth -103

Steffi Singh -106


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Voluntary association of persons of theweaker section of the society, to meettheir common socio-economic andcultural needs.


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Co-operative housing activity is the bestmeans of providing decent houses atreasonable costs to persons, particularlyof low and middle income groups ofsimilar interest


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which is formed for all or any of the objectsreferred to in section five of the act 1958;

which has under its rules a share capitaldivided into equal shares of one or moreclasses and not being preferential shares.


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To enable each of its members:-

o to purchase land and to erect a dwelling-housethereon; or

o to erect a dwelling-house on land alreadyowned by him


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o To maintain and keep in proper repair his

dwelling-house

o To erect a dwelling-house on land leased byhim for a term of not less than 50 years


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Minimum number of persons 25. The society's object should be promotion of the

economic interests of its members. The proposed society should be capable of being

run on economically sound lines. The registration of the proposed society should not

have an adverse effect onthe cooperative movement.

The prospective members should contribute aminimum amount of share capitalprescribed by the Registrar of CooperativeSocieties for the particular type of society to bestarted.


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A co-operative society can be registered inMaharashtra State with the Registrar of Co-operative Societies.

Any person competent to contract, as per the

Indian contract Act, 1872 can join in the formationof a co-operative. A group of ten persons, who reside in the area of

operation of the proposed society and are fromdifferent families, can join in application for

registration of a society. A society with the objects of promoting the

economic interests or the general welfare of themembers only can be registered.


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Registration can be obtained from the registrar onfilling up the application form with the necessaryfees and the bye-laws.

A Co-operative Society can enter into collaborationwith any Government Undertaking or any otherundertaking with the prior permission of the StateGovernment for business.

It can also enter into a partnership with other co-operatives


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Tenant Ownership: In the case where the land isowned by the Society and the structure on the plotis owned by the members. Individual members areallotted plots by the co-operative to construct their

houses. The society creates infrastructure and mayalso arrange the finance for the members. Tenant Co-partnership: The land and the

constructed structure is owned by the society andthe members who are allotted the flats have the

easement rights.


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Builder Co-operative: where the builder floats a housing schemeand sells the flats. The buyers of the flats then organize into ahousing society. Such societies are merely service societies ormaintenance societies.

Ownership cooperative: - In this case, people working in anorganization come together and form them into a housingcooperative society. They get their society register, apply toMAHADA. (MAHARASHTRA HOUSING ANDDEVELOPMENT AUTHORITY) and get a plot allotted to themin LIG, MIG, and HIG i.e.: low income group, middle incomegroup, high income group. Once the plot is sanctioned theyapproach a construction company and depending on their budget

build up housing society. E.g.: Gulmohar cooperative housingsociety situated at Ceissor road, Andheri (west) is the housingcomplex of the ICICI officers.


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1. No person shall be admitted as member of a co-operative society unless-

He has applied in writing in the form laid down by the co-operativesociety or in the form specified by the Registrar.

His application is approved by the committee of the co-operative society.

He has fulfilled all other conditions laid down in the Act, the Rules andthe Bye-laws.

In case of a Cooperative Housing Society, he has been a resident of the

particular area for a minimum period of three years at the time ofapplying for a membership in such society.


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2. In case of vacancy in a housing societyincluding group housing society where layoutand building plans have been approved by the

competent authority, the same shall be filled bythe committee by notifying it in leading dailynewspaper . In case the number of applicationsis more than the notified vacancies the

membership shall be finalized through draw inthe presence of the Registrar.


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Committee of Management, initially nominated by the Registrar of Cooperative Societiesand subsequently elected by the General Body once every 3 years.

Members of the committee of management

Every Society shall call Annual General Meeting within a period of three months .

Special General Meeting can be called by the Chairman or majority of the members . TheRegistrar also has the powers to call for a Special General meeting.

Failure to call for this meeting may attract penalty for the Managing Committee.


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Reservation for the weaker section.

If a Managing Committee of a Society is not duly constituted, an Administrator may be

appointed by the Registrar.

A memberof the Managing committee can also be removedby the Registrar for negligentperformance.

Office bearers of a Society can be removed by the way of No confidence motion. Such a noconfidence motion has to be supported by at least one-third of the members of the managingCommittee.


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Right to get certificate of allotment:- Every member of a co-operative housing society, whether

registered before or after the commencement of this Act shall beissued certificate of allotment by the co-operative housing society

under its seal and signature Right to undivided interest in common area:- Every member of a co-operative housing society shall be entitled

to an undivided interest in the common areas and facilitiespertaining to the plot of land or dwelling unit allotted to him.

Right to use the common area:-

Every member of a co-operative housing society to whom a plot ofland or a dwelling unit has been allotted shall have the right touse the common areas and facilities as prescribed by the co-operative housing society.


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Right to attend meeting and vote:- A member has right to attend all the meetings of the society and vote Right to contest election:- A member has right to stand for the election of the management

committee. Right to seek information from the society:- A member can seek information relating to any transaction of the co-

operative housing society and the society is required to furnish suchinformation within 30 days from the request.

Duties:- The society should not discriminate between members andshould not place unlawful restrictions on them. Besides this, the society

should be prompt in attending to the complaints and grievances of themembers as to provision of services.


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No funds shall be divided among its members, other than the net profits earned by the Society.

Remuneration can be paid to the Managing Committee members for services provided by them tothe Society.

Net Profit earned by the Society can be appropriated by the members with the approval of the AnnualGeneral Meeting.

Reserve fund shall be maintained by the Society.

Investments of Funds shall be made as per the guidelines prescribed in the Maharashtra Co-operative

societies Act, 1960. Audit, Inquiry Inspection and Supervision of Societies.

The Registrar of Co-operative Societies makes it compulsory for every Government -aided Co-operativeSociety to audit its accounts at least once in a co-operative year (i.e. April - March).

The Registrar can inspect the working of the Society on his own or on application of its creditors.

The Registrar can order for compensation, if it is found that any person has misapplied or retained anyproperty, or money of the Society, or has caused breach of trust.


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The member is responsible: As a member, to participate in the smooth operation and

democracy of the co-operative. To attend general meetings. To participate

in setting policy. As a tenant, to pay rent. To behave responsibly towards

other tenants and other duties as laid out in the tenancy

agreement/license.

As a director, to ensure that the co-operative is run in a fit &proper manner. All directors are responsible for ensuringthat tasks are carried out. Even when tasks have beendelegated, all directors are equally responsible formonitoring them. To make management decisions.


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The co-operative is responsible: To provide tenants with suitable housing, and other

duties as laid out in The tenancy agreement/license.

To conduct business in a fit & proper manner. To keep accurate records & accounts of the business of

the co-operative. In practice many of the co-operatives tasks are

delegated to individuals. However, all directors are

equally responsible for ensuring they are carried outand making checks.


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Inadequate finance: In the measure metros, housing finance cooperatives are offering loans at very

competitive rates. However in semi urban and rural areas, there is no institutionalfinance available for building houses. The housing urban developmental cooperative(HUDCO) has launched retail finance for rural and semi urban areas and under themNIWAS scheme sanctioned over 1500 crores and build over 1 million houses as ondec 2004.

Disinterested members: In the busy city like Mumbai, both husband and wife is working having a very hecticwork schedule. They are already under pressure of managing there households andcareers. They do not have time to socialize and neither contributes proactively for thedevelopment of housing cooperative.

The office bearers are poorly paid: Most of the staff of housing cooperative is either retired people or people who have

taken VRS and are compensated very poorly for services they offer. The young blood

is missing in management of cooperative as they do not pay handsome salaries.

co operative societie

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