(37) The Registrar may, with the prior written consent of the Reserve Bank in accordance with Article 110-A, make an order approving the plan in connection with the liquidation or adjustment or administration or composition or distribution or restoration of the insured company. Parking: Parking space means an open space on the Company`s premises, which the Corporation intends to park and which includes a stilt. The statutes of the Maharashtra Cooperative Housing Society encourage the peaceful coexistence of its members on the basis of cooperative principles. The statutes of the association guarantee voluntary education and ensure the participation of all participants. Maharashtra Cooperative Housing Society Bye-Laws also helps companies initiate a remediation process in accordance with the authority`s standards, from structural audits to repair and renovation works and the day-to-day business of the company. 23) Seizure of Records – Under section 80, the Registrar may seize the records and property of the Corporation if it is certain that there is an opportunity to unlawfully delete, alter or destroy the books or records. Articles of Association: Articles of Association refer to the registered articles of association of the company. 2) Making decisions on specific matters – According to section 11, the registrar may decide whether a person is a farmer or not, or whether or not a person resides at the place of work of the business, or whether or not a person is engaged in employment, work, profession. This decision is considered final, but the person concerned should be given the opportunity to explain his or her complaint. (33) Obligation to contribute – The Registrar may require the corporation or group of companies to make an appropriate contribution each year in accordance with section 90. 29) The Registrar reserves the right to bring to the attention of the Company any inconveniences revealed during the investigation or inspection in accordance with § 87 and to take the necessary measures. (6) Consolidation, transfer, distribution or transformation of corporations – The Registrar has the right to authorize the consolidation of one corporation with another according to the approved proposal, the transfer in whole or in part of the bonds and ownership, the distribution to two or more companies or the consideration in another class in accordance with section 17, or the issuance of policies in accordance with section 18.
Area of operation: The scope of operation of each cooperative housing company in accordance with the regulations of the Maharashtra Co-operative Housing Society is limited to all cities and municipalities in the state of Maharashtra. For companies in Brihan Mumbai, entering the survey number of the city and neighborhood in the gap is mandatory. 12) Decision on admission as a member – The Registrar may decide whether the society has refused admission as a member or whether a person has appealed in accordance with § 23 (2). This Decision is final. Lead Promoter: Lead Promoter means the person elected by the Proponents until the Corporation`s first General Meeting. 16) Investments in Funds – Under section 70, the Registrar may impose conditions on the Corporation to invest its fund in a place or elsewhere. (32) Under section 89-A, the registrar has the right to observe the operations of the corporation. Membership: Any person who joins the co-operative in accordance with the articles and applies for registration is considered a member upon admission. (9) According to § 19, the registrar may order the reconstruction of the corporation.
The Maharashtra Co-operative Housing Society Regulations Act provides clear guidelines for the management of co-operative housing associations in the state of Maharashtra. Maharashtra Co-operative Housing Society Bye Laws operates in accordance with the rules of the Maharashtra Co-operative Societies Act 1960. Each housing association must follow the rules set out in the Maharashtra Co-operative Housing Society by-laws to be considered a registered housing association. 5) Approval to change the name of the corporation – Under section 15, the Registrar may grant permission to change the name of the corporation. (26) Conduct Investigations – The Registrar may conduct inquiries into the incorporation, procedure and financial condition of a corporation in accordance with section 83. (1) Registration of Societies – In accordance with section 9 of the Cooperatives Act, the registrar may register the corporation for the proper functioning of the corporation if the objects and objectives of the corporation are for the growth of its members or the financial welfare of ordinary people or the general welfare referred to in section 5. Fundraising: Each business can raise funds as needed by charging entry fees, issuing shares, or offering loans and grants. The association may also receive voluntary donations. Housing associations may charge a fee for the transfer of shares as well as occupancy fees. Rights and obligations of members: Members of the Society in accordance with the statutes of the Maharashtra Co-operative Housing Society shall include associate members and registered members. Any person eligible for membership under the Indian Contracts Act, 1872 or any corporation incorporated under an Act currently in force, or a corporation registered under the Corporations Registration Act, 1860.
A person who is entitled to become a member must receive the membership fee in accordance with the statutes of the association before being admitted as a member. (17) Selection of notified companies – In accordance with article 73(1)(C), the registrar may recover the expenses referred to in article 73-G for the election of the company or group of companies. In addition, he also has the right to call an extraordinary meeting on a motion of censure, to appoint and preside over the officers of the company. He may take charge of the administration in accordance with Article 73-H or appoint a director if the members of the Society have not been able to organize the election of members before the end of the term. (40) The Registrar may authorize any corporation or group of corporations to carry on business as an agricultural cooperative and a multipurpose rural development bank in accordance with section 142. Resolution of complaints: Under Section 91 of the Maharashtra Cooperative Societies Act, 1960, any dispute relating to the activities of the society may be submitted to any member of the society who has a member`s guarantee. 14) Accept a Member – Under section 35, the Registrar may authorize the admission of any person as a member or at the request of the Society. 4) Issue guidelines for reforms of the statutes – Article 14 allows the registrar to issue guidelines for the implementation of the statutory reforms within a specified period of time if he deems it necessary or desirable for the welfare of the company. Management of the Company: The management of the affairs of the Company is the responsibility of the Committee duly constituted in accordance with the provisions of the MCS Act 1960, the MCS Regulations 1961 and the Articles of Association of the Company. A bank account shall be opened by the Society in the nearest central state or district cooperative. Bank or its branch or in a proposed cooperative bank.
21) Removal of Committees or Members – Under section 78, the Registrar has the right to remove such committee or member of the Society if a committee or member of the Society is found guilty of acts prejudicial to the Society or of failing to discharge its responsibilities. Creation of bonds: The registration of the company makes it a corporation under the name under which it is registered. The company organizes the construction inspection of the association`s building once every five years for buildings between 15 and 30 years old and once every three years for buildings over thirty years old. Membership: The corporation becomes a member of the district housing association immediately upon registration. The District Central Cooperative Bank shall pay funds to the company in accordance with the statutes of the respective organizations. (18) Decision on the Qualification and Appointment of Officer – In accordance with section 74, the Registrar may make decisions respecting the qualification and appointment of chief executive officers, treasury officers, managers, secretaries, accountants or other officers of the corporation or group of the corporation.
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