RERA Registration

Maharashtra Co-Operative Societies Act 1960

Co-Operative Societies

Maharashtra Co-Operative Societies can be registered with at least 10 persons and registration process usually need to comply with MSC Act 1960.

Maharashtra Co-Operative Societies Act 1960

A society has a purpose of the promotion of the economic interests or general welfare of its members or of the public, in accordance with co-operative principles or a society established with the object of facilitating the operations of any such society may be registered under this Act, provided that, no society shall be registered if it is likely to be economically  not sound, or the registration of which has an adverse effect on development of the co-operative movement, or the registration of which may be contrary to the policy directives which the State Government may, from time to time, issue.

A society may be registered with limited or unlimited liability.

Registration under Maharashtra Co-Operative Societies act 1960?

  • No society, other than a federal society, shall be registered unless it consists of at least 10 persons or such higher number of persons as the Registrar may having regard to the objects and economic viability of a society and development of the co-operative movement, determine from time to time for a class of societies, who are qualified to be members under this Act, and who reside in the area of operation of the society provided that, a lift irrigation society consisting of less than 10 out of 5 or more such persons may be registered under this Act.
  • And if the Registrar refuses to register a proposed society, he shall forthwith communicate his decision, with the reasons therefor, to the person making the application and if there be more than one to the person who has signed first thereon.
  • The Registrar shall maintain a register of all societies registered, or deemed to be registered.
  • The Registrar shall classify all societies into one or other of the classes of societies and if it thinks for reasons to be recorded in writing, alter the classification of a society from one class of society to another, or from one subclass thereof to another; and may, in the public interest and subject to such terms and conditions as they may think appropriate to impose, allow any society so classified to undertake the activities of a society belonging to another class.
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Amalgamation, transfer, division or conversion of societies

  • A society may, with the previous approval of the Registrar, by resolution passed by two-thirds majority of the members present and voting at a special general meeting held for the purpose, decide –
  • To amalgamate with another society;
  • Be transfer its assets and liabilities, in whole or in part, to any other society;
  • To divide itself into two or more societies; or
  • To convert itself into another class of society.

Partnership of Societies

  • Any 2 or more societies may, with the prior approval of the Registrar by resolution passed by 3/4 majority of the members present and voting at a general meeting of each such society, enter into partnership for carrying out any specific business or business, provided that each member has had clear 10 days, written notice of the resolution and the date of the meeting.
  • Further, provided that, in case of a society which has not taken any financial assistance from the Government, in the form of share capital, loan or guarantee, the prior approval of the Registrar for entering into such partnership shall not be required. And nothing in the Indian Partnership Act, 1932, shall apply to such partnership.

Cancellation of registration

  • The Registrar can pass an order of canceling the registration of a society if it transfers the whole of its assets and liabilities to another society, or amalgamates with another society, or divides itself into two or more societies or if its affairs are wound up.
  • From the date of such order of cancellation, the society shall be deemed to be dissolved and it will cease to exist as a corporate body.

De-Registration of Societies

  • If the Registrar is satisfied that any society is registered on misrepresentation made by applicants, or where the work of the society is completed or exhausted or the purposes for which the society has been registered are not obliged, one may, after giving an opportunity of being heard to the Chief Promoter, the committee and the members of the society, de-register the society.
  • Provided that, where the number of members of the society is so large and it is not possible to ascertain the correct addresses of all such members from the proceedings in the office of the Registrar and, in the opinion of the Registrar it is not practicable to serve a notice of hearing on each such individual member, a public notice of the proceedings of the de-registration shall be given in the prescribed manner and such notice shall be deemed to be notice to all the members of the society comprising the chief promoter and the members of the committee of the Society, and no proceeding in respect of the deregistration of the society shall be called in question in any Court merely on the ground that individual notice is not served on any such member.
  • When a society is de-registered under the above provisions, the Registrar may, notwithstanding anything contained in this Act or any other law for the time being in force, make such incidental and consequential orders including the appointment of Official Assignee as the circumstances may require.
  • The official assignee will realise the assets and liquidate the liabilities within a period of 1 year from the date he takes over the charge of property, assets, books, records, and other documents, which period may, at the discretion of the Registrar, be extended from time to time, so however, that the total period does not exceed 3 years in the aggregate.
  • The Official Assignee shall be paid such remuneration and allowances as may be prescribed, and he shall not be entitled to any remuneration whatever beyond the prescribed remuneration or allowances.
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Incorporation of Societies

  • The registration of a society will render it a body corporate by the name under which it is registered, with continuous succession and a common seal, and with power to acquire, hold and dispose of property, to enter into contracts, to institute and defend suits and other legal proceedings, and to do all such things as are necessary for the purpose for which it is constituted.
  • In accordance with the rules, every society shall have an address, registered to which all notices and communication may be sent and the society shall send notice in writing to the Registrar of any change in the said address within thirty days thereof.
  • Every society has to maintain a register of its members, and enter therein following particulars, that is to say, the name, address, and occupation of each member; in the case of a society having share capital, the shares held by each member; the date on which each person was admitted a member; the date on which any person ceased to be a member, etc.
  • A society will accept deposits and loans from members and other persons, only to such extent, and under such conditions, as may be prescribed, or on specified by the by-laws of the society.

Annual returns of Co-operative Societies in Maharashtra

  • As per section 79 (1A) of MCS Act, all 6 types of Annual returns including audit report and balance sheet are required to be filed on or before September 30th of each year for the year ended March 31st of the immediate fiscal year.
  • However, many societies did not get their societies online registered and also did not file the audit report for years. When a survey was conducted, the required information was not provided to the department. The co-operative commissioner advised the Deputy Registrar / Assistant Registrar to appoint the liquidator to such Societies.
  • Now the online system of allows the filing of returns and audit report. Therefore, it is suggested that all the societies who have not done online registration on Government website should get it done at the earliest and file all pending annual returns.
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Due Dates for Co-Operative Society Audits

According to the latest circular on Co-Operative Society Audits, below are some important dates:

  • Finalisation of Acts – 15th May
  • For audit purpose handing over the accounts -1st June
  • Audit Completion: 31st July
  • Audit Report Upload – 31st Aug or 15th September
  • AGM Date – 30th September
  • Mandatory Annual Return by Society – by 30th September
  • Mandatory Return by Society about Auditor Appointment – One month from AGM or 31st Oct
  • Online Audit Order Generation by Auditor – 31st October.
  • Audit Rectification Report by Society: 3 months from the date of submission of a report by an auditor.
  • Rectification Report Upload by Auditor through Audit login: Once received from Society

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