Saraswat Co-op 2

7/23/2019 Saraswat Co-op 2

1/34

Roll No:60

ACKNOWLEDGEMENT:-

The satisfaction that accompanies the successful completion of any task

oul! "e incomplete ithout mentionin# the names of people ho ma!e it

possi"le$ hose constant #ui!ance an! encou%a#ement c%on all the effo%ts ith

success&

' ish to thank to the (ea! of M&Com& Depa%tment Prof. Hasina Sayedan!

Prof. Santosh Ghagfo% he% encou%a#ement an! suppo%t th%ou#hout the p%o)ect it is

!ue to he% "est effo%t an! continue! #ui!ance that ' as a"le to p%epa%e this p%o)ect&

' also take this oppo%tunity to e*p%ess my !eep %e#a%!s an! #%atitu!e to

the Principal Dr. Ashok Wadiaan! also ' oul! thank the +ni,e%sity of Mum"ai

an! to #i,e me this oppo%tunity to e*plo%e the ,alua"le info%mation %elate! to this

topic&

' oul! also thank to my pa%ents an! f%ien!s fo% thei% suppo%t an! co-ope%ation in the cou%se of the p%o)ect eithe% !i%ectly o% in!i%ectly in,ol,e! in time

ith thei% ,alua"le cont%i"ution&

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Roll No:60

CONTENT PAGE NO.

'NTOD+CT'ON TO CO-O.EAT'/E 0OC'ET'E0 1

C(AACTE'0T'C0 2 T3.0 4

AD/ANTEGE0 2 L'M'TAT'ON0 56

.'NC'.AL0$ ACT 2 +L0 51

.O7'LE O7 T(E CO-O.EAT'/E 0OC'ET3 84

'NCOME 2 E9.END'T+E 0TATEMENT

CONCL+0'ON ;


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Roll No:60

NT!OD"CTON

0o fa% you ha,e lea%nt a"out sole p%op%ieto%ship$ pa%tne%ship an! )oint stock company as

!iffe%ent fo%ms of "usiness o%#anisation& 3ou must ha,e notice! that "esi!es many !iffe%ences amon#

them in %espect of thei% fo%mation$ ope%ation$ capital cont%i"ution as ell as lia"ilities$ one common

simila%ity is that they all en#a#e in "usiness acti,ities to ea%n p%ofit& Without p%ofit it is impossi"le

fo% them to su%,i,e an! #%o&


4/34

Roll No:60

#roadly speaking there are three sectors operating in the "nion of ndia.

$. P"#%C SECTO! he%ein the 0tate i&e& The +nion of 'n!ia an! the %especti,e 0tate

Go,e%nment un!e%take !e,elopments p%o)ects hich a%e holly one! "y eithe% the Cent%al

Go,e%nment o% the 0tate Go,e%nment&

&. P!'ATE SECTO! hich is a secto% he%e p%i,ate ente%p%ises a%e pe%mitte! in ce%tain fiel!s of

economic acti,ities&

(. CO)OPE!AT'E SECTO! hich is "eautifully "len!e! in "eteen a pu"lic secto% an! the

p%i,ate secto%& 't has "enefits of "oth the secto%s an! !isa!,anta#es of neithe% of them&

*EANNG

Let us take one e*ample& 0uppose a poo% ,illa#e% has to cos an! #ets ten lit%es of milk& Afte%

consumption "y his family e,e%y!ay he fin!s a su%plus of fi,e lite%s of milk& What can he !o ith the

su%plus (e may ant to sell the milk "ut may not fin! a custome% in the


5/34

Roll No:60

p%o!ucts an! foun! a ,e%y #oo! ma%ket fo% thei% p%o!ucts not only in the nea%"y ton "ut in the

enti%e count%y& ust think it o,e%& A poo% ,illa#e%$ ho as not a"le to sell fi,e lit%es of milk in his

,illa#e$ is

no sellin# milk an! milk p%o!ucts th%ou#hout the nation& (e is no en)oyin# a #oo! life& (o !i!

it happen Who ma!e it possi"le This is the %ea%! of a )oint effo%t o% coope%ation&

The te%m co-ope%ation is !e%i,e! f%om the Latin o%! co-ope%a%i$ he%e the o%! co means

ithB an! operari means to o%kB& Thus$ co-ope%ation means o%kin# to#ethe%& 0o those ho ant

to o%k to#ethe% ith some common economic o")ecti,e can fo%m a society hich is te%me! as Fco-

ope%ati,e society& 't is a ,olunta%y association of pe%sons ho o%k to#ethe% to p%omote thei%

economic inte%est& 't o%ks on the p%inciple of self-help as ell as mutual help& The main o")ecti,e is

to p%o,i!e suppo%t to the mem"e%s& No"o!y )oins a coope%ati,e society to ea%n p%ofit& .eople come

fo%a%! as a #%oup$ pool thei% in!i,i!ual %esou%ces$ utilise them in the "est possi"le manne%$ an!

!e%i,e some common "enefit out of it&

'n the a"o,e e*ample$ all p%o!uce%s of milk of a ,illa#e )oine! han!s$ collecte! the su%plus milk at a

common place an! sol! milk an! milk p%o!ucts in the ma%ket& This as possi"le "ecause of thei%

)oint effo%t& 'n!i,i!ually it oul! not ha,e "een possi"le eithe% to sell o% p%o!uce any milk p%o!uct in

that ,illa#e& They ha! fo%me! a co-ope%ati,e society fo% this pu%pose&

'n a simila% ay$ the consume%s of a pa%ticula% locality can )oin han!s to p%o,i!e #oo!s of thei% !aily

nee! an! thus$ fo%m a co-ope%ati,e society& No they can "uy #oo!s !i%ectly f%om the p%o!uce%s an!

sell those to mem"e%s at a cheape% p%ice& Why is the p%ice cheape%


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Roll No:60

i. Open +e+,ership- The mem"e%ship of a Co-ope%ati,e 0ociety is open to all those

ho ha,e a common inte%est& A minimum of ten mem"e%s a%e %e@ui%e! to fo%m a coope%ati,e society&

The Coope%ati,e societies Act !oes not specify the ma*imum num"e% of mem"e%s fo% any co-

ope%ati,e society& (oe,e%$ afte% the fo%mation of the society$ the mem"e% may specify the ma*imum

num"e% of mem"e%s&

ii. 'olntary Association- Mem"e%s )oin the co-ope%ati,e society ,olunta%ily$ that is$

"y choice& A mem"e% can )oin the society as an! hen he likes$ continue fo% as lon# as he likes$ an!

lea,e the society at ill&

iii. State control- To p%otect the inte%est of mem"e%s$ co-ope%ati,e societies a%e place! un!e% state

cont%ol th%ou#h %e#ist%ation& While #ettin# %e#iste%e!$ a society has to su"mit !etails a"out the

mem"e%s an! the "usiness it is to un!e%take& 't has to maintain "ooks of accounts$ hich a%e to "e

au!ite! "y #o,e%nment au!ito%s&

i/. Sorces of 0inance- 'n a co-ope%ati,e society capital is cont%i"ute! "y all the mem"e%s&(oe,e%$

it can easily %aise loans an! secu%e #%ants f%om #o,e%nment afte% its %e#ist%ation&

/. De+ocratic *anage+ent- Co-ope%ati,e societies a%e mana#e! on !emoc%atic lines& The society

is mana#e! "y a #%oup knon as F


7/34

Roll No:60

Death$ insol,ency o% lunacy of a mem"e% !oes not affect the e*istence of a society& 't can ente% into

a#%eements ith othe%s an! can pu%chase o% sell p%ope%ties in its on name&

/i. Distri,tion of Srpls- E,e%y co-ope%ati,e society in a!!ition to p%o,i!in# se%,ices to its

mem"e%s$ also #ene%ates some p%ofit hile con!uctin# "usiness& .%ofits a%e not ea%ne! at the cost of

its mem"e%s& .%ofit #ene%ate! is !ist%i"ute! to its mem"e%s not on the "asis of the sha%es hel! "y the

mem"e%s Ilike the company fo%m of "usinessJ$ "ut on the "asis of mem"e%sB pa%ticipation in the

"usiness of the society& 7o% e*ample$ in a consume% co-ope%ati,e sto%e only a small pa%t of the p%ofit

is !ist%i"ute! to mem"e%sMas !i,i!en! on thei% sha%es? a ma)o% pa%t of the p%ofit is pai! as pu%chase

"onus to mem"e%s on the "asis of #oo!s pu%chase! "y each mem"e% f%om the society&

/ii. Self)help throgh +tal cooperation- Co-ope%ati,e 0ocieties th%i,e on the p%inciple of mutual

help& They a%e the o%#anisations of financially eake% sections of society& Co-ope%ati,e 0ocieties

con,e%t the eakness of mem"e%s into st%en#th "y a!optin# the p%inciple of self-help th%ou#h mutual

co-ope%ation& 't is only "y o%kin# )ointly on the p%inciple of FEach fo% all an! all fo% each$ the

mem"e%s can fi#ht e*ploitation an! secu%e a place in society&

T1PES

A 0ociety is cate#o%i>e! on the "asis of its o")ects& The%e a%e ,a%ious types of societies that can

"e fo%me! un!e% the Act un!e% hich it is %e#iste%e!:

+n!e% Maha%asht%a Co-ope%ati,e 0ocieties Act$ 541H folloin# types of 0ocieties can "e %e#iste%e! :

$. Agricltral *arketing Society-

As pe% section 8I5J F a#%icultu%al ma%ketin# 0ociety means a society -

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Roll No:60

IaJ The o")ect of hich is the ma%ketin# of a#%icultu%al p%o!uce an! the supply of implements an!

othe% %e@uisites fo% a#%icultu%al p%o!uction$ an!

I"J Not less than th%ee-fou%ths of the mem"e%s of hich a%e a#%icultu%ists$ o% societies fo%me! "y

a#%icultu%ists&

&. Cons+er Society

As pe% 0ection 8I4J F Consume%Bs 0ociety F means a society$ the o")ect of hich is -

IaJThe p%ocu%ement$ p%o!uction o% p%ocessin#$ an! !ist%i"ution of #oo!s to$ o% the pe%fo%mance o

othe% se%,ices fo%$ its mem"e%s as also othe% custome%s$ an!

I"J the !ist%i"ution amon# its mem"e%s an! custome%s$ in the p%opo%tion$ p%esc%i"e! "y %ules o% "y

the "ye-las of the society$ of the p%ofits acc%uin# f%om such p%ocu%ement$ p%o!uction o% p%ocessin#$

an! !ist%i"ution&

(. Co)operati/e #ank

As pe% section 8I5HJ FCo-ope%ati,e "ank F means a society hich is !oin# "usiness of "ankin# as

!efine! in clause I"J of su"-section I5J of section of the


9/34

Roll No:60

As pe% section 8I58J$7a%min# 0ociety means a society in hich$ the o")ect of inc%easin#

a#%icultu%al p%o!uction$ employment an! income an! the "ette% utili>ation of %esou%ces$ lan!s a%e

"%ou#ht to#ethe% )ointly culti,ate! "y all the mem"e%s$ such lan!s IaJ "ein# one! o% lease! to the

mem"e%s Io% some of themJ$ o% I"J comin# in possession of the society in any othe% manne%

hatsoe,e%&

5. General Society

As pe% section 8I5J$Gene%al 0ociety means a society not fallin# in any of the classes of societies

!efine! "y the othe% clauses of this section&

6. Hosing Society

As pe% section 8I51J$(ousin# society means a society$ the o")ect of hich is to p%o,i!e its

mem"e%s ith open plots fo% housin#$ !ellin# houses o% flats? o% if open plots$ the !ellin# houses

o% flats a%e al%ea!y ac@ui%e!$ to p%o,i!e its mem"e%s common amenities an! se%,ices&

7. 0ederal Society

As pe% section 8I5J$7e!e%al society$ means a society-

IaJ not less than fi,e mem"e%s of hich a%e themsel,es societies$ an!

I"J in hich the ,otin# %i#hts a%e so %e#ulate! that the mem"e%s ho a%e societies ha,e not less than

fou%-fifths of the total num"e% of ,otes in the #ene%al meetin# of such society

$8. rrigation Society

As pe% section 8I51-AJ$Lift '%%i#ation 0ociety means a society$ the o")ect of hich is to p%o,i!e

ate% supply$ "y moti,e poe% o% othe%ise to its mem"e%s$ fo% i%%i#ation an! othe%ise&

$$. Process Society

As pe% section 8I88J$.%ocessin# society means a society$ the o")ect of hich is the p%ocessin# of

#oo!s&

$&. Prodcers Society

As pe% section 8I8J$.%o!uce%s 0ociety means a society$ the o")ect of hich is p%o!uction an!

!isposal of #oo!s o% the collecti,e !isposal of la"ou% of the mem"e%s the%eof&

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Roll No:60

$(. !esorce Society

As pe% section 8I8J$esou%ce 0ociety means a society$ the o")ect of hich is o"tainin# fo% its

mem"e%s of c%e!it$ #oo!s o% se%,ices %e@ui%e! "y them&

$2. Ape9 Society

As pe% section 8I8J of M&C&0& Act$ FApe* 0ociety F means a society$ -

IaJ the a%ea of ope%ation of hich e*ten!s to the hole of the 0tate of Maha%asht%a

I"J the main o")ect of hich is to %emote the p%incipal o")ects of the societies affiliate! to it as

Mem"e%s an! to p%o,i!e fo% the facilities an! se%,ices to them an!

IcJ hich has "een classifie! as an ape* society "y the e#ist%a%s

AD'ANTAGES

A Co-ope%ati,e fo%m of "usiness o%#anisation has the folloin# a!,anta#es:

i. Easy 0or+ation- 7o%mation of a co-ope%ati,e society is ,e%y easy compa%e! to a )oint stock

company& Any ten a!ults can ,olunta%ily fo%m an association an! #et it %e#iste%e! ith the e#ist%a%

of Co-ope%ati,e 0ocieties&

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Roll No:60

ii. Open *e+,ership- .e%sons ha,in# common inte%est can fo%m a co-ope%ati,e society& Any

competent pe%son can "ecome a mem"e% at any time heshe likes an! can lea,e the society at ill&

iii. De+ocratic Control- A co-ope%ati,e society is cont%olle! in a !emoc%atic manne%&

The mem"e%s cast thei% ,ote to elect thei% %ep%esentati,es to fo%m a committee that looks afte% the

!ay-to-!ay a!minist%ation& This committee is accounta"le to all the mem"e%s of the society&

i/. %i+ited %ia,ility- The lia"ility of mem"e%s of a co-ope%ati,e society is limite! to the e*tent of

capital cont%i"ute! "y them& +nlike sole p%op%ieto%s an! pa%tne%s the pe%sonal p%ope%ties of mem"e%s

of the co-ope%ati,e societies a%e f%ee f%om any kin! of %isk "ecause of "usiness lia"ilities&

/. Eli+ination of *iddle+en:s Profit- Th%ou#h co-ope%ati,es the mem"e%s o% consume%s cont%ol

thei% on supplies an! thus$ mi!!lemenBs p%ofit is eliminate!&

/i. State Assistance-


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Roll No:60

ii. Pro,le+s in *anage+ent- Gene%ally it is seen that co-ope%ati,e societies !o not function

efficiently !ue to lack of mana#e%ial talent& The mem"e%s o% thei% electe! %ep%esentati,es a%e not

e*pe%ience! enou#h to mana#e the society& A#ain$ "ecause of limite! capital they a%e not a"le to #et

the "enefits of p%ofessional mana#ement&

iii. %ack of *oti/ation- E,e%y co-ope%ati,e society is fo%me! to %en!e% se%,ice to its mem"e%s %athe%

than to ea%n p%ofit& This !oes not p%o,i!e enou#h moti,ation to the mem"e%s to put in thei% "est effo%t

an! mana#e the society efficiently&

i/. %ack of Co)operation- The co-ope%ati,e societies a%e fo%me! ith the i!ea of mutual co-

ope%ation&


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Roll No:60

(. SE%0 HE%P AND *"T"A% HE%P -

The Co-ope%ati,e societies office "ea%e%se*ecuti,e committee is electe! as pe% !emoc%atic election

p%oce!u%e& The Co-ope%ati,e 0ociety function un!e% the p%inciple of self help an! mutual help hich

means each ill help fo% themsel,es an! all ill help othe%s&

2. DE*OC!ATC CONT!O%S -

The Cont%ol of a Co-ope%ati,e ente%p%ise in not in the han!s of capitalists ho can co%ne% the sha%e

capital an! cont%ol the inte%est in any un!e%takin# hich oul! "e a p%i,ate un!e%takin#&

3. E;"A%T1 -

'n co-ope%ati,e 0ecto%$ the p%inciple of F One man one /ote F is p%o,i!e! in the statute so as to

ensu%e that the capital !oes not !ominate the a!minist%ation of co-ope%ati,e 0ociety&

4. OPEN *E*#E!SHP -

Any pe%son can apply fo% the mem"e%ship of the 0ociety ithout any !isc%imination& The

mem"e%ship is open fo% all&

5. SOCA% APP!OACH < NO P!O0T *OT'E -

As the 0ociety is o%kin# on !emoc%atic p%inciple an! the office "ea%e%s of the 0ociety ill "e

functionin# like a t%ustees fo% the "ette% mana#ement of the society an! the%e is no sepa%ate "enefits

to the e*ecuti,e committee mem"e%s& 0e%,ice is the main motto an! the p%ofit is not the main

conce%n in co-ope%ati,e societies&

6. P!O0TS AND !ET"!NS TO THE *E*#E!S -

Co-ope%ati,e 0ociety is an association of mem"e%s an! ce%tain pe%centa#e p%ofits ea%ne! "y the

society$ as !eci!e! in the meetin# of the Gene%al "o!y ill "e !ist%i"ute! in the fo%m of !i,i!en! to

the mem"e%s&

7. %*TED NTE!EST ON SHA!ES -

'%%especti,e of the sha%ehol!in#$ each mem"e% has only one ,ote in the !ecision-makin# in the

Gene%al "o!y meetin# o% at the time of election of the committee fo% mana#ement& The sha%es a%e not

t%a!e! in the stock e*chan#e&

The 0tate Co-op& Act also p%esc%i"es the ma*imum amount$ hich a mem"e% can hol! as a sha%e

capital in any society& +n!e% M&C&0& Act$ 541H as pe% 0ection 8= othe% than Go,e%nment o% othe%

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Roll No:60

society$ shall not hol! mo%e than 5 of the total capital o% inte%est in sha%es o% e*cee!in# s&

8H$HHH- hich the 0tate Go,e%nment poe% to chan#e "y ay of notification&

$8. PE!SONA% PA!TCPATON -

The sha%ehol!e%s ha,e to pe%sonally atten! the meetin# o% fo% ,otin#& They a%e not alloe! to appoint

p%o*ies fo% atten!in# the #ene%al "o!y o% fo% ,otin# in the %esolution to "e passe!&

$$. ED"CATONS AND CO)OPE!ATON -

E,e%y society has to cont%i"ute toa%!s the e!ucation fun! maintaine! an! looke! afte% "y the

!ist%ict co-ope%ati,e e!ucation e! th%ou#h the co-ope%ati,e societies ha,e to "e !eposite! in,este! in

the Co-ope%ati,e 0ecto% only&

ACT = !"%ES APP%CA#%E

A Co)operati/e Society fnctions as per the pro/isions of

5& Co-ope%ati,e 0ocieties Act un!e% hich the same is %e#iste%e!&

8& Co-ope%ati,e 0ocieties %ules ma!e the%e un!e%

&


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Roll No:60

We ha,e a num"e% of Co-ope%ati,e 0ocieties Acts functional in !iffe%ent states like

- Maha%ast%a Co-ope%ati,e 0ocieties Act$ 541H$

- .on!iche%%y Co-ope%ati,e 0ocieties Act$ 54;8$

- Ka%nataka Co-ope%ati,e 0ocieties Act$ 544$

- Delhi Co-ope%ati,e 0ocieties Act$ 54;8$

- Ke%ala Co-ope%ati,e 0ocieties Act etc&

When the a%ea of ope%ation is %est%icte! to one state$ the 0tate Co-ope%ati,e Act 2 ules$ un!e%

hich the society is %e#iste%e! ill "e applica"le&

'n a pa%ticula% state$ if Co-ope%ati,e Act an! ules is not enacte!$ the Cent%al Act hich is knon as

The Co-ope%ati,e Act$ 5458 an! its %ules ill "e applica"le& When the a%ea of ope%ation of 0ociety is

sp%ea! in to o% mo%e states& The Multi-0tate Co-ope%ati,e 0ocieties Act$ 8HH8 an! its %ules shall "e

applica"le&

&. Co)operati/e Societies !les

A set of %ules is also f%ame! un!e% the %especti,e 0tate Co-ope%ati,e Act fo% p%oce!u%al aspects&

(. #ye)la>s

Each society also %e#iste%e! ith the "ye-las fo% inte%nal mana#ement of the societies !uly

app%o,e! "y the %e#ist%a% at the time of %e#ist%ation of the society& The "ye-las of a society

constitute a cont%act "eteen a mem"e% an! the society an! it p%o,i!e fo% the mana#ement of the

society& The "ye-las a%e f%ame! ithin the p%o,isions of the Act an! the %ules ma!e the%e un!e%&


16/34

Roll No:60

2. Notification and Orders

'ssue! f%om time to time "y the Go,e%nment$ o% any othe% Autho%ity as p%esc%i"e! un!e% the Act$

ules the%e un!e%&

P!O'SONS 0O! !EGST!ATON

The%e a%e !iffe%ent types of Co-ope%ati,e 0ocieties$ hich can "e %e#iste%e! un!e% the

Maha%asht%a Coope%ati,e 0ocieties Act$ hich e%e e*plaine! ea%lie%&

'n all these types of societies$ the p%oce!u%e to "e folloe! fo% fo%mulation of %e#ist%ation p%oposals

sli#htly !iffe%s& The %e@ui%ements in %espect of each type of co-ope%ati,e societyBs nee!s to "e

p%ope%ly un!e%stoo! "y e,e%y p%omote%$ o% the p%ofessional cha%#e! ith the %esponsi"ility of #ettin#

the society %e#iste%e! Ichief p%omote%J&

P!O'SONS "NDE! THE *.C.S. ACT? $748

0ections to 55of the Act$ p%o,i!e fo% %e#ist%ation of 0ocieties an! the con!itions fo% the same&

0ection 6 p%o,i!es fo% a natu%e of an o%#ani>ation$ hich can "e %e#iste%e! as a 0ociety& 0ection 1

lays !on the con!itions fo% %e#ist%ation of the 0ociety& 0ection = p%o,i!es fo% application fo%

16


17/34

Roll No:60

%e#ist%ation "ye-las an! the %e#ist%ation fees& 0ection 4 p%o,i!es fo% time "oun! %e#ist%ation of the

0ociety an! the "ye-las&

@"!SDCTON

Each 0ociety "ase! on its a%ea of ope%ation has to "e %e#iste%e! "y the e#ist%a% appointe! "y the

Go,e%nment fo% the pa%ticula% )u%is!iction& 7o% the pu%pose of %e#ist%ation of the 0ocieties the City of

Mum"ai has "een !i,i!e! as pe% the Municipal Wa%!s& The%e is a Deputy o% Assistant e#ist%a% of

Co-ope%ati,e 0ocieties fo% each Wa%! ho is the e#ist%ation Autho%ity fo% the Co-ope%ati,e

0ocieties in that Wa%!& No%mally the office of such e#iste%in# Autho%ity IAJ is situate! ithin the

limits of such Wa%!& (oe,e% if no space is a,aila"le fo% the office of the A in any a%! the office

of A of such Wa%! is at the office of Deputy e#ist%a% Co-ope%ati,e 0ocieties 'n!ia (ouse 1th floo%

opposite G.O Mum"ai& Othe% places in each Taluka one DeputyAssistant e#ist%a%$ e#iste%s 2

0upe%,ises the 0ocieties&

SOCETES? WHCH *A1 #E !EGSTE!ED

As pe% section 6$ a society$ hich has as its o")ects the p%omotion of the economic inte%ests o%

#ene%al elfa%e of its mem"e%s o% of the pu"lic$ in acco%!ance ith co-ope%ati,e p%inciples o% a

society esta"lishe! ith the o")ect of facilitatin# the ope%ations of any such society$ may "e

%e#iste%e! un!e% this Act: .%o,i!e! that$ no society shall "e %e#iste%e! if it is likely to "e

economically unsoun!$ o% the %e#ist%ation of hich may ha,e an a!,e%se effect on !e,elopment of

the co-ope%ati,e mo,ement$ o% the %e#ist%ation of hich may "e cont%a%y to the policy !i%ecti,es$

hich the 0tate Go,e%nment may$ f%om time to time$ issue&

!EGST!ATON WTH %*TED O! "N%*TED %A#%T1

As pe% section $ a 0ociety may "e %e#iste%e! ith limite! o% unlimite! lia"ility& As pe% section

88= Fsociety ith limite! lia"ility means a society ha,in# the lia"ility of its mem"e%s limite! "y

its "ye-las? As pe% section 884 Fsociety ith unlimite! lia"ility means a society$ the mem"e%s of

hich a%e$ in the e,ent of its "ein# oun! up$ )ointly an! se,e%ally lia"le fo% an! in %espect of its

o"li#ations an! to cont%i"ute to any !eficiency in the assets of the society?

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CONDTONS O0 !EGST!ATON

I5J No society$ othe% than a fe!e%al society$ shall "e %e#iste%e! un!e% this Act$ unless it consists of at

least ten pe%sons o% such hi#he% num"e% of pe%sons as the e#ist%a% may$ ha,in# %e#a%! to the o")ects

an! economic ,ia"ility of a society an! !e,elopment of the co-ope%ati,e mo,ement$ !ete%mine f%om

time to time fo% a class of societiesIeach of such pe%sons "ein# a mem"e% of a !iffe%ent familyJ$ ho

a%e @ualifie! to "e mem"e%s un!e% this Act$ an! ho %esi!e in the a%ea of ope%ation of society :

.%o,i!e! that$ a lift i%%i#ation society consistin# of less than ten "ut of fi,e o% mo%e such pe%sons

may "e %e#iste%e! un!e% this Act&

I8J No society ith a limite! lia"ility shall "e %e#iste%e!$ unless all pe%sons fo%min# the society

%esi!e in the same ton o% ,illa#e$ o% in the same #%oup of ,illa#es&

I8-AJ No c%op p%otection society shall "e %e#iste%e!$ unless the e#ist%a% is satisfie!$ afte% such

in@ui%y as he thinks necessa%y$ that a !%aft of the p%oposal ma!e "y the society fo% p%otectin# c%ops$

st%uctu%es$ machine%y a#%icultu%al implements an! othe% e@uipment such as those use! fo% pumpin#

ate% on the lan!$ as !uly pu"lishe! fo% in,itin# all one%s of lan! likely to "e affecte! "y the

p%oposal an! all othe% pe%sons likely to "e inte%este! in the sai! lan!s to )oin the p%oposal o% to sen!

thei% o")ections o% su##estions an! that the o")ections an! su##estions %ecei,e! $ if any$ ha,e "een

!uly consi!e%e! "y the society an! that the one%s in possession of not less than 11 pe%cent in the

a##%e#ate of lan!s inclu!e! in the p%oposal ha,e #i,en thei% consentin# %itin# to the makin# of the

p%oposal an! that the p%oposal ma!e is feasi"le&

7o% this pu%pose$ the society shall su"mit to the e#ist%a%:

IaJ a plan shoin# the a%ea co,e%e! "y the p%oposal an! the su%%oun!in# lan! as shon in the map o%

maps of the ,illa#e o% ,illa#es affecte!?

I"J an e*t%act f%om the %eco%! of %i#hts !uly ce%tifie! shoin# the names of the one%s of lan!s an!

the a%eas of the lan!s inclu!e! in the p%oposal?

IcJ 0tatements of such of the one%s of the lan!s as consente! to the makin# of the p%oposal si#ne!

"y one%s "efo%e to itnesses?

I!J a !etaile! estimate of the cost of implementin# the p%oposal?

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Roll No:60

IeJ a !etaile! statement shoin# ho the cost is p%opose! to "e met&

When such society is %e#iste%e!$ the cost of implementin# the p%oposal shall "e met holly o% in pa%t

"y cont%i"ution to "e le,ie! "y the society f%om each one% of the lan! inclu!e! in the p%oposal$

inclu!in# any such one% ho may ha,e %efuse! to "ecome a mem"e% of the society& The one% of

e,e%y lan! inclu!e! in the p%oposal shall also "e p%ima%ily lia"le fo% the payment of the cont%i"ution

lia"le f%om time to time in %espect of such lan!&

IJ No fe!e%al society shall "e %e#iste%e! unless it has at least fi,e societies as its mem"e%s&

I6J Nothin# in this Act shall "e !eeme! to affect the %e#ist%ation of any society ma!e "efo%e the

commencement of this Act&

IJ The o%! Flimite! o% Funlimite! shall "e the last o%! in the name of e,e%y society ith

limite! o% unlimite! lia"ility$ as the case may "e hich is %e#iste%e! o% !eeme! to "e %e#iste%e! un!e%

this Act& E*planation: 7o% the pu%pose of this section an! section =$ the e*p%ession F mem"e% of

family means ife$ hus"an!$ fathe%$ mothe%$ son$ o% unma%%ie! !au#hte%

POWE! TO EE*PT SOCETES BO! C%ASS O0 SOCETES 0!O* CONDTONS AS

TO !EGST!ATON

As pe% section ;$ notithstan!in# anythin# containe! in this Act$ the 0tate Go,e%nment may$ "y

#ene%al o% special o%!e%$ e*empt any society o% class of societies f%om any of the %e@ui%ements of this

Act as to %e#ist%ation$ su")ect to such con!itions Iif anyJ as it may impose&

APP%CATON 0O! !EGST!ATON

As pe% section =

I5J 7o% the pu%pose of %e#ist%ation$ an application shall "e ma!e to the e#ist%a% in the p%esc%i"e!

fo%m an! shall "e accompanie! "y fou% copies of the p%opose! "ye-las of the society an! such

%e#ist%ation fee as may p%esc%i"e! in this "ehalf& Diffe%ent %e#ist%ation fees may "e p%esc%i"e! fo%

!iffe%ent class of societies$ %e#a%! "ein# ha! to the se%,ice in,ol,e! in p%ocessin# an application fo%

%e#ist%ation& The pe%son "y hom$ o% on hose "ehalf$ such application is ma!e$ shall fu%nish such

info%mation in %e#a%! to the society$ as the e#ist%a% may %e@ui%e&

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I8J The application may "e si#ne!

aJ in case of a society othe% than a fe!e%al society "y at least ten pe%sons Ieach of such pe%son "ein# a

mem"e% of !iffe%ent familyJ$ ho a%e @ualifie! un!e% this Act$ an!$

"J in the case of a fe!e%al society$ "y at least fi,e societies&

No si#natu%e to any application on "ehalf of a society shall "e ,ali!$ unless the pe%son si#nin# is a

mem"e% of the committee of such a society an! is autho%i>e! "y the committee "y %esolution to si#n

on its "ehalf the application fo% %e#ist%ation of the society an! its "ye-las? an! a copy of such

%esolution is appen!e! to the application&

!EGST!ATON

As pe% section 4

I5J 'f the e#ist%a% is satisfie! that a p%opose! society has complie! ith the p%o,isions of this Act

an! the ules$ o% any othe% la fo% the time "ein# in fo%ce$ o% policy !i%ecti,es issue! "y the 0tate

Go,e%nment un!e% section 6$ an! that its p%opose! "ye-las a%e not cont%a%y to this Act o% to the

%ules$ he shall$ ithin to months$ f%om the !ate of %eceipt of application %e#iste% the society an! its

"ye-las&

I8J Whe%e the%e is a failu%e on the pa%t of the e#ist%a% to !ispose off such application ithin the

pe%io! afo%esai!$ the e#ist%a% shall$ ithin a pe%io! of fifteen !ays f%om the !ate of e*pi%ation of

that pe%io! %efe% the application to the ne*t hi#he% office% an! he%e the e#ist%a% is himself the

%e#iste%in# office%$ to the 0tate Go,e%nment$ ho a%e hich$ as the case may "e$ shall !ispose of the

application ithin to months f%om the !ate of its %eceipt an! on the failu%e of such hi#he% office% o%

the 0tate

Go,e%nment$ as the case may "e$ to !ispose of the application ithin that pe%io!$ the society an! its

"ye-las shall "e !eeme! to ha,e "een %e#iste%e!&an! the%eafte% the e#ist%a% shall issue a

ce%tificate of %e#ist%ation un!e% his seal an! si#natu%e ithin a pe%io! of fifteen !ays&

IJ Whe%e the %e#ist%a% %efuses to %e#iste% a p%opose! society$ he shall fo%thith communicate his

!ecision$ ith %easons the%efo%e$ to the pe%son makin# the application an! if the%e "e mo%e than one

to

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the pe%son ho has si#ne! fi%st the%ein&

I6J The e#ist%a% shall maintain a %e#ist%a% of all societies %e#iste%e! o% !eeme! to "e %e#iste%e!$

un!e% the Act&

P!OCED"!E 0O! !EGST!ATON

The p%oce!u%e fo% %e#ist%ation of society can "e e*plaine! as the folloin# steps:

$. APPONT*ENT O0 CHE0 P!O*OTE!

The fi%st step to %e#iste% a 0ociety is that minimum 5H a!ult in!i,i!uals f%om in!epen!ent

families !esi%in# to fo%m a 0ociety shoul! #athe% an! hol! a meetin# to

IaJ select a p%o,isional committee an! elect a Chief .%omote% fo% fo%mation of a society an!

I"J select a name fo% such 0ociety ith th%ee alte%nati,es an! to pass app%op%iate %esolutions in that

"ehalf&

cJ To collect the ent%ance fee an! sha%e capital f%om the p%ospecti,e mem"e%s&

!J To open the


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Roll No:60

#J To autho%i>e chief p%omote% to su"mit the p%oposal fo% %e#ist%ation an! to !o any othe% thin# to #et

the society %e#iste%e!&

&. NA*E !ESE!'ATON

The secon! step oul! "e to apply to the %e#ist%ation autho%ity IAJ fo% %ese%,ation of name fo%

the society an! o"tain lette% f%om the A in that connection& The %esolutions passe! at the p%omote%s

meetin# as a"o,e shoul! accompany such application fo% %ese%,ation of name as afo%esai!& The lette%

%ese%,in# the name of the society shall "e ,ali! fo% months& The ,ali!ity of the name is no%mally

e*ten!e! on an application fo% 5 o% 8 fu%the% te%ms of months each&

(. #AN ACCO"NT AND DEPOSTS

The thi%! step oul! "e to

IaJ open a "ank account in the name of the p%opose! 0ociety as pe% the ABs !i%ections in that "ehalf

that shall contain in the lette% %ese%,in# the name an!

I"J !eposit the%ein the ent%ance fee sha%e money an! the amount %eco,e%e! fo% p%elimina%y e*penses

f%om the p%omote%s an! o"tain the ce%tificate f%om such "ank in %espect of such !eposits& No%mally

the !i%ections of the A a%e to open account ith a p%o*imate "%anch of the Dist%ict Cent%al Co-

ope%ati,e


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+n!e% ule 6 of Maha%asht%a Co-ope%ati,e 0ocieties ules the chief p%omote% shoul! su"mit the

folloin# !ocuments fo% %e#ist%ation

aJ Application fo% %e#ist%ation - 7o%m A

An application fo% %e#ist%ation of a society shoul! "e ma!e in fo%m& The specimen of 7o%m A& The

application fo% %e#ist%ation in @ua!%uplicate shoul! "e si#ne! "y at least 1H of the p%omote%Bs

mem"e%s an! Chief .%omote% shoul! attest thei% si#natu%es&

"J 7ou% copies of the p%opose! "ye-las of the society

cJ A list of p%omote%Bs mem"e%s$ such as the name a#e occupation cu%%ent %esi!ential a a!!%ess of the

p%omote% mem"e% the cost of sha%e amount etc&

!J A ce%tificate f%om the


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an! its "ye-las un!e% su"-section I5J of section 4 the e#ist%a% shall as soon as may "e$ notify the

%e#ist%ation of the society in the Official Ga>ette an! #%ant to the society a ce%tificate the e#ist%ation

num"e% of the society$ an! the !ate of its %e#ist%ation& The %e#ist%a% shall also fu%nish the society ith

a ce%tifie! copy of the "ye-las app%o,e! an! %e#iste%e! "y him&

5. !E0"SA% O0 !EGST!ATON

Whe%e any society !oes not fu%nish the info%mation in %e#a%! to the society as %e@ui%e! "y the

e#ist%a% o% fulfill any of the con!itions lai! !on in the Act o% these ules$ Notification o% o%!e%s$

the e#ist%a% may %efuse to %e#iste% that society&

6. APPEA%S

+n!e% section 58 an appeal a#ainst an o%!e% o% !ecisions of %e#ist%ation of society$ %efusal of

%e#ist%ation of society shall lie

IaJ if ma!e o% sanctione! o% app%o,e! "y the e#ist%a%$ o% the A!!itional o% oint e#ist%a% on hom

poe%s of the e#ist%a% a%e confe%%e!$ to the 0tate Go,e%nment&

I"J 'f ma!e o% sanctione! "y any pe%son othe% than the e#ist%a%$ o% the A!!itional o% oint e#ist%a%

on hom the poe%s of the e#ist%a% a%e confe%%e! to the e#ist%a%&

+ltimately a %eme!y of W%it .etition un!e% A%ticle 881 o% 88; of the Constitution of 'n!ia is alays

a,aila"le e,en to a Co-ope%ati,e society o% a pe%son a##%ie,e! in an e*t%ao%!ina%y ci%cumstances&

Which means if the !ecision of 0tate #o,e%nment on the appeal ma!e "y the a##%ie,e! pa%ty is not

accepta"le a W%it .etition can "e fille! in the (i#h Cou%t an! then 0up%eme Cou%t&

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THE SA!ASWAT S"#"!#AN CO)OPE!AT'E HO"SNG SOCET1

%*TED

Ie#iste%e! un!e% the Co-ope%ati,e 0ocieties Act '' of 5458 on 58th Ma%ch 5454J

A+T(O'0ED CA.'TAL : s 5$HH$HHH&HH

Di,i!e! into H$HHH sha%es of s H&HH each

!EGSTE!ED O00CE-

5H6$ 0a%asat Colony$

0antac%u> West Mum"ai 6HHH6

*ANAGNG CO**TTEE

CHA!*AN

M% E!in / Dsou>a

Itill =th May 8H58J

M% a)en!%a . Kalyanpu%

If%om =th May 8H58J

HON SEC!ETA!1

M% /i,ek N Kal"a#

HON T!EAS"!E!

M%s 0ho"ha D Ka"a!

#ANE!S

T(E 0(AMAO /'T(AL CO-O.EAT'/E West


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!EPO!T #1 THE *ANAGNG CO**TTEE

(i#hli#hts of 7inancials The Mana#in# Committee is please! to p%esent the Accounts fo% the pe%io!

en!e! 5st Ma%ch$ 8H5& The !eficit fo% the yea% is s 6$;$H& The !eficit is mainly !ue to themem"e% !ues of s ;$16$885 "ein# %itten off& The !etails of the %ite off a%e M%& A!itya 0ashittal

s $=8$11$ M%& +!ay Kaila)e s 5$81$;5= an! %efun! of s 6=6H to M% 0u%en!%a (attiku!!u%&

These amounts e%e %itten off as pe% the %ecommen!ation of the 0u"-Committee fo%me! an!

app%o,e! "y the Gene%al


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Roll No:60

!ecision to collect the ne ta*es has "een postpone! "y the


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TypeJ5411-541; Ga%a#e IP7P Type


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NCO*E = EPENDT"!E STATE*ENT

SCHED"%E 0O!*NG PA!T O0

NCO*E = EPENDT"!E ACCO"NT

SCHED"%E ) 7

AD*NST!ATON CHA!GES

As at ($st*arch

&8$& !sPA!TC"%A!S

As at ($st *arch

&8$( !s

&2&52&.88 Employee emoluments &835$8.88

252&.88 Canteen E*pense 2 0taff Welfa%e (7$3.88

33&8.88 0pecial Me!ical 2 Othe% Alloances )

&76867.88 Le#al .%ofessional 7ees $&$37(.88

52&3.88 Au!it 7ees $6588.88

$$$28.88 .osta#e 2 Telephone $8752.88&5&28.88 .%intin# Cha%#es 23$48.88

&68&4.88 N&A&Ta* $28$(.88

$5&48.88 Meetin# E*penses &84&3.88

&&$(2.88 Compute% E*penses (62(3.88

$(4$8.88 Con,eyance E*penses 3436.88

$$&34.88 Miscellaneous E*penses &(6&3.88

6$$88.88 Accountin# Cha%#es 78888.88

&347.88 0u"sc%iption &848.88

4$8(.88 A!,e%tisin# E*penses $552.88

556734.88 48&22&.88

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*N"TES O0 THE SPECA% GENE!A% *EETNG HE%D ON &$st April &8$(

*e+,ers present- 27

Chai%man calle! the meetin# to o%!e%& On "ehalf of the Mana#in# Committee IMCJ$ he elcome! all

mem"e%s to the 0GM an! commence! the meetin# ith the customa%y p%aye%s hich e%e le! "y M%

Ni%an)an Na#a%katte&

Chai%man info%me! the (ouse that the 0GM ha! "een con,ene! ith a 8-point a#en!a one ith

%e#a%! to the %e,ise! p%ope%ty ta*es an! the othe% to announce the %esults of elections to the Ne

Mana#in# Committee& Chai%man p%opose! that the notice "e consi!e%e! as %ea! since it ha! "een

ci%culate! to all mem"e%s in a!,ance& The Gene%al


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Roll No:60

The %e,ise! p%ope%ty ta*es a%e applica"le f%om 8H5H-8H55& The "ills %ecei,e! f%om the


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Roll No:60

With %e#a%! to the thi%! issue opinions e%e %aise! on ,a%ious issues& 7i%stly$ the%e as a ,ie that

le,yin# p%ope%ty ta*es "ase! on the capital ,alue e,ol,e! "ase! on 0D 8H5H as inco%%ect&

(oe,e%$ the%e as no cla%ity on the "asis on hich the p%ope%ty ta* as calculate! ea%lie%& 't as

also su##este! that e must make a %ep%esentation to the


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CONC%"SON

Co-ope%ati,e mo,ement in ou% count%y shall not only stay "ut also #%o in times to come& 'n spite of

the !%a"acks e*pe%ience! in the o%kin# an! a!minist%ation of the co-ope%ati,e societies$ they ha,e

positi,ely cont%i"ute! to the #%oth an! !e,elopment of the national economy& .%omotion of th%ift$

self-help an! mutual ai! a%e the fun!amental p%inciples of co-ope%ation& The o%ientations of

comme%cial o%#ani>ation an! co-ope%ati,e o%#ani>ations a%e "asically !iffe%ent& 'n a comme%cial

o%#ani>ation$ ea%nin# an! ma*imi>in# the p%ofits is the sole moti,e? he%eas in a co-ope%ati,e

o%#ani>ation p%ofit cannot "e the sole moti,e& The p%ime o")ecti,es$ in a!!ition to the th%ee

fun!amentals of co-ope%ation mentione! a"o,e a%e to make a,aila"le the #oo!s an! se%,ices in

%e@ui%e! @uantity$ of "ette% @uality an! at a %easona"le p%ice to its mem"e%s& 't !oes not mean that a

Co-ope%ati,e 0ociety is a cha%ita"le o%#ani>ation& 't shoul!$ the%efo%e$ con!uct itself in a "usiness

like manne% in attainin# its o")ecti,es efficiently&

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Saraswat Co-op 2

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Transcript of Saraswat Co-op 2