Appointment of Auditors in a CHS

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Information regarding Share Certificate of Housing Societies

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Information regarding Share Certificate of Housing Societies Share Certificate is one of the most important documents issued to the members of the Co-operative housing society As per Model Bye-laws# 9(a): A Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the Member, the number of shares issued and the value paid there on, shall be issued by the Society to every Member for the shares subscribed by him, within a period of six months of the allotment of the shares. In Maharashtra, societies are governed by Maharashtra Cooperative Societies Act. This Act provides the rules and regulations governing Cooperative Housing Societies also. Total Authorized Share Capital of a Co operative Society is fixed by Registrar of Co op Societies at the time of registering the Society. This share capital is divided into shares of Rs 50/- each. After the amendment to the byelaws in 2014, in cooperative housing societies in Maharashtra, each member has...
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Builder bound to form Society if 51% flats are booked as per MahaRERA

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Maharashtra Government has notified RERA rules to regulate Real Estate Industry as directed by Central Government. Under new RERA Rules Builders are duty bound to give conveyance and form society if 51% of flats are “Booked”. Within three months of 51% booking the project, builder is duty bound to form a society and hand over conveyance to the newly formed society. Maharashtra RERA Rule 9. Formation of legal entity and transfer of title. – (1) Promoter to enable formation of Legal Entity like Cooperative Society, Company, Association, Federation etc. under clause (e) of sub-section (4) of section 11 of the Act.- (i)Where a Co-operative Housing Society or a Company or any other legal entity of allottees is to be constituted for a single building not being part of a Layout; or in case of layout of more than one building or a wing of one building in the layout, the Promoter shall submit the application in that behalf to the Registrar for registration of the Co-operative Housing Societ...
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Reintroduction of M 20 bond for Managing Committee members

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