Mumbai: Finally the state cabinet has given permission housing societies To hold its Annual General Meeting by March 2022. The earlier deadline was September 30, 2021. Also, management committees have been empowered to transact budget and appoint an auditor for the next financial year and decide on dividend or budget balance. .
The State Co-Operation Commissioner had recommended the extension stating that only 20% of the societies have their own audit and budget preparation. COVID-19 The restrictions which were in force till August 31.
On a huge demand from the housing societies in the Mumbai Metropolitan Region, the Commissioner had recommended to the State Cooperative Department to extend the date of holding the Housing Society AGM till March 2022. These AGMs mainly approve the audits of the previous years, decide on balancing and appoint auditors for the new financial year.
Both the AGM and the submission of the audited accounts had earlier a deadline of 30 September, which was strongly opposed by the committees as their associations said there was little time to finalize the accounts and issue notices to those members. Period, those who had either traveled outside or had just arrived resumed their regular duties following the Covid restrictions.
All the society associations had supported the commissioner’s recommendations, which were awaiting the approval of the Department of Cooperation and finally the cabinet.
It may also be mentioned here that according to the recent circular society elections can be held within six months from September 16, i.e. till March 15, 2022.
This gives the societies enough time to take all the action as per the legal specifications and without any hassle.
The State Co-Operation Commissioner had recommended the extension stating that only 20% of the societies have their own audit and budget preparation. COVID-19 The restrictions which were in force till August 31.
On a huge demand from the housing societies in the Mumbai Metropolitan Region, the Commissioner had recommended to the State Cooperative Department to extend the date of holding the Housing Society AGM till March 2022. These AGMs mainly approve the audits of the previous years, decide on balancing and appoint auditors for the new financial year.
Both the AGM and the submission of the audited accounts had earlier a deadline of 30 September, which was strongly opposed by the committees as their associations said there was little time to finalize the accounts and issue notices to those members. Period, those who had either traveled outside or had just arrived resumed their regular duties following the Covid restrictions.
All the society associations had supported the commissioner’s recommendations, which were awaiting the approval of the Department of Cooperation and finally the cabinet.
It may also be mentioned here that according to the recent circular society elections can be held within six months from September 16, i.e. till March 15, 2022.
This gives the societies enough time to take all the action as per the legal specifications and without any hassle.
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