Due to the corona scare, Maharashtra government has given a big relief to the cooperatives in the state. Now their Annual General Meetings (AGM) can be held by 31st March 2021 while co-ops have to conduct their audits by 31st December 2020. It was announced last week.
Given Covid 19, it was difficult to organize AGMs till 30th September, said several co-operators of the state.
Cooperatives are required to conduct audits within four months of the end of the financial year, but due to the Corona, it is not possible for co-ops to conduct audits by 31 July. Thus the date has been extended till 31 December 2020 for the audit.
Earlier, Governor of Maharashtra, Bhagat Singh Koshyari promulgated an Ordinance with immediate effect postponing the elections to the state’s co-op societies and allowed the old team to continue in office till the new committees are formed.