We approached a builder to purchase a flat. He gave us the agreement at the time of registration. The builder asked us to give the cheque in the name of a lady, and the agreement is signed by her power of attorney holder. We have never seen or met the lady and do not know her whereabouts. We were told by the builder that it is his flat. We have still not received the share certificate from this lady, as the society had not issued it to her. We are worried and do not know what to do. Please guide me. – Madhukar Patil, Goregaon
It is necessary to verify the details and the terms and conditions of the agreement before signing to avoid lastminute surprises. Sometimes, the financers of the builder reserve the flat in their name as security and sell the same once the project is completed. You need not worry, as you are protected under the definition of allottee of RERA as a subsequent acquirer of the flat. As per Bye Law 9, the society is required to issue a share certificate within six months of allotment.
Since your society is new and the flat was sold before the issue of the share certificate to the original member, you have to comply with the transfer formalities as mentioned in Bye Law 38. You have to apply to transfer the shares, rights and interest in the flat, along with the indemnity, share transfer fee, admission fee, etc. After completion of these formalities, the society has to issue the share certificate to you. Please ensure that your name is endorsed as a transferee on the share certificate. If the society does not issue the share certificate within three months from the date of your application, you may file a complaint with the registrar.
Can a person be an office bearer in two cooperative housing societies at the same time? Is there any provision in the MCS Act, that restrains from holding such a position? – Geet Sethna, Powai Ans.
Yes, a person can be an office bearer in two cooperative housing societies at the same time. Section 73A of the Maharashtra Cooperative Societies Act, 1960, mentioned the disqualification for being a “designated officer” of societies and provided some restrictions on being appointed as an office bearer of more than two societies. However, pursuant to the amendments to the MCS Act in 2019, section 73A does not apply to cooperative housing societies.
The new section 154B-23, dealing with the disqualification of the committee and its members, does not specifically provide for such a clause. Hence, a person can be an office bearer in more than one cooperative housing society. However, such a person and the committee should ensure that there is no conflict of interest while discharging the duties as an office bearer.
What documents are required to be filed while submitting the annual returns and what is the last date of filing such returns? Manisha Chavan, Dadar
The society has to prepare the annual returns and submit the same on or before 30th September every year to the registrar. Your society has to file the annual report of the activities of society, audited statement of accounts, plan for disposal of surplus, if any, as approved by the general body, list of amendments to the bye laws, if any, carried out by the society, and declaration regarding the date of holding the general body meeting and conduct of elections when due.
Every society is also required to file a return stating the name of the auditor or auditing firm from the panel approved by the state government, appointed at the general body meeting, along with the written consent of the auditor within one month of the date of the AGM. If any society fails to submit the annual returns, the registrar may cause the society’s accounts to be audited by appointing an auditor from the approved panel. Please refer to Bye Law 146 in this regard.
The questions are answered by Sharmila Ranade, a legal expert associated with Mumbai Grahak Panchayat. The questions, in brief, may be sent to fpjchs@gmail.com
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