I am from Pune, my query is as follows :
Our Hsg society had audit report and statement of final Accounts B/sheet and P&L account of the society. There are some blonder blander mistakes while making final accounts.
My question is what the roll of AGM in such case is. Can auditor file these wrongly presented accounts to Registrars of Hsg societies?
Without approval of Members in AGM?
I C Naik
Annual General Meeting can refuse to adopt the Accounts. Adoption of accounts is a statutory requirement under Section 75(4)
“(4)At every annual general body meeting the audited balance sheet, the audited profit and loss account, audit report of the preceding financial year submitted by the auditor appointed under section 81, rectification report of earlier audit and the committee’s report shall be placed for adoption and such other business will be transacted as may be laid down in the by-laws, and of which due notice has been given.”;
Sub-section ( 5 ) provides for the consequences of default as afore said.
(5) If default is made, in calling a “general body meeting within the period” ‘prescribed under sub-section (1)’ or in complying with sub-section(2),(2A) (3) or (4) the Registrar may by order declare any officer or member of the committee whose duty it was to call such a meeting or comply with with sub-section(2),(2A) (3) or (4) and who without any reasonable excuse failed to comply with any of the aforesaid sub-sections disqualified for being elected and for being any officer or member of the committee for such period not exceeding five years, as he may specify in such an order and, if the officer is a servant of the society, impose a penalty on him to7[pay] an amount not exceeding fivethous and rupees. Before making an order under this sub-section, the Registrar shall give, or cause to be given, a reasonable opportunity to the person concerned of showing cause against the action proposed to be taken in regard to him.