IFFCO’s decisive move in holding AGM, skirting all the stumbling blocks skilfully, has suddenly ushered in the prospects of multi state co-operative societies doing the same without waiting for a nod from the Central Registrar.
IFFCO contacted the area DM and assured him of following all the norms related to Covid 19 and got the approval from him in no time! Where does the Central Registrar matter in this? asked a co-operator.
It bears recall that the Central Registrar has already racked his brain along with a number of co-operators through video-conferencing to find a solution. He is yet to get one. Meanwhile, hundreds of multistate co-ops across states are waiting to hear from him, September 30 being the last date according to the MSCS Act 2002.
To cut the confusion, multistate co-ops should invite only a minimum number of delegates in person for fulfilling the condition of quorum. The rest of the delegates can be connected through video conferencing, opined an expert taking cue from IFFCO’s handling of the situation.
This way a multistate co-op can have AGM which fulfils the conditions of the MSCS Act 2002 and is yet inclusive due to the use of digital medium. This is possible even while the government continues to debate if a virtual AGM could be allowed for cooperatives, as is the case with companies according to the Company Act.
Earlier, several co-operators asked the government to allow virtual AGM and also defer the date from September 30 to December 31. In fact, many state registrars have already done so. In the recently held virtual meeting, Sahakar Bharati leader Uday Joshi requested the Central Registrar to allow multi-state co-op societies to conduct virtual AGMs.
But for multistate co-ops where elections are due, the situation is indeed ticklish, admitted Joshi. We have suggested to the government that co-op elections be postponed for the time being, underlined Joshi.
Meanwhile, there are several co-operators who write to Indian Cooperative detailing their woes in the wake of their inability to conduct AGM due to lack of clarity from the govt. There are many resolutions for the growth of co-ops to be passed with the approval of shareholders but the proceedings are delayed due to the non-conduct of meetings, echoed many.
IFFCO’s example may come in handy for many such multistate co-ops which can hold AGMs seeking clearance from the area DM.
