The Punjab Cabinet, chaired by Chief Minister Bhagwant Singh Mann, has approved amendments to the Punjab Cooperative Societies Act, 1961.
The move withdrew stamp duty and registration fee exemptions for certain cooperative societies, a provision earlier meant to support institutional growth but misused for property deals, especially in urban housing societies.
Such exemptions had enabled unregistered possession and benami transactions, creating legal risks. With the amendment to Section 37, new clauses empower the state government to notify exclusions for specific societies or instruments.
The decision aims to ensure greater transparency and accountability in cooperative property transactions.
