Co-operative societies get extension till March 31 to hold AGM

All co-operative housing societies across Maharashtra have got an extension till March 31, 2022 to hold their annual general body meeting. The decision was taken yesterday in the cabinet meeting led by chief minister Uddhav Thackeray. A proposal to amend the changes in the Maharashtra Cooperative society act was also sent to the governor. With this extension there are possibilities that the  there might be delay in taking up important works in the cooperative societies and appointment of an auditor on issues such as interest, right on disbursement of balance amount, approval on financial report for the year 2021-22 and the rights be given to the authorised board of directors and not to the general body meeting. 

The state government previously had delayed the annual general body meeting, for which the governor had issued a notification too. This year, Societies more than 50 members were allowed to hold online annual general body meeting till September 30,2021. Due to Covid19 the right to hold meetings for societies above 250 online meetings was issued for which the governor had issued a notification too. But many Societies could not get their auditors report ready. Hence the state wide cooperative housing societies federation had put up a request to extend the meeting date. The government has also allowed cooperative housing societies to complete their audit work before December 31,2021.