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Information on The Maharashtra Co-operative Societies | Company Vakil

Maharashtra Co-operative Societies Act, 1960 gives order and laws for the development of co-operative societies in the state of Maharashtra. This Act was passed as a law by the Maharashtra legislative assembly in 1960 enacted in the 11th year of the Indian republic. It extends to the whole of Maharashtra providing detailed laws for registration to the membership and liability of the members and incorporation of duties and privileges of the co-operative societies across the state.

Registration under Maharashtra Co-Operative Societies act 1960

  • No society, other than the federal society, will be registered except it consists of at least 10 persons or any such higher number of persons as the Registrar might having regard to the objects and economic viability of a society and development of the co-operative movement, establish from time to time for a class of societies, who are qualified to be a member under the 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 might be registered under this Act.
  • And if the Registrar declines to register a proposed society, he will forthwith communicate his decision, with the reasons consequently, to the person making the application and to others if involved in the application process.
  • The Registrar will preserve a register of all societies registered under the Maharashtra Co-operative Societies Act, or deemed to be registered.
  • The Registrar shall categorize all societies under the Maharashtra Co-operative Societies Act into one or other of the classes of societies and if it thinks for reasons to be recorded in writing, alter the categorization of a society from one class of society to the other, or from one subclass thereof to another; and may, in the public interest and subject to such terms and conditions as they may think suitable to impose, allow any society so classified to take on the activities of a society belonging to another class.

Amalgamation, transfer, division or conversion of societies

  • A society might, with the previous support of the Registrar, by resolution passed by two-thirds majority of the members there and voting at a special general meeting held for the purpose, decide –
  • To amalgamate with a different society;
  • Be transfer its assets and liabilities, to any other society;
  • To split itself into two or more societies; or
  • To change itself into another class of society.

The Partnership of Societies under the Maharashtra Co-operative Societies Act

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

Cancellation of registration

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

De-Registration of Societies

  • If the Registrar contends that any society is registered on misrepresentation made by applicants, or where the work of the society is finished 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 Chief Promoter, committee and members of the society, de-register the society.
  • Provided that, where the number of members of the society is so huge and it is  impossible to ascertain the correct addresses of all such members from the procedures in the Registrar’s office 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 actions of the de-registration shall be given in the prescribed manner and such notice will 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 will be called in question in any Court merely on the ground that the individual notice is not served on any such members.
  • When a society is de-registered under the above provisions, the Registrar may, despite anything contained in this Act or any other law for the time being in force, make such subsidiary and consequential orders including the appointment of Official Assignee as the circumstances may require.
  • The official assignee will understand the assets and liquidate the liabilities within 1 year from the date he takes charge over the property, assets, books, records, and other documents, which period may, at the discretion of the Registrar, be extended from time to time, so nevertheless, that the total period does not exceed 3 years in the aggregate.
  • The Official Assignee will be paid such remuneration and allowances as may be prescribed, and he will not be entitled to any remuneration whatever further than the prescribed remuneration or allowances.

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