Abdul Sattar Khan
We are having one society registration certificate from Registrar of Cooperative housing society Maharashtra for two different building consisting of 12 flats each on a separate plot.
Due to some reason we have decided to split it into two societies of each building. Please guide what is procedure to follow for getting two different registration certificates
I C Naik
The Committee should draw up a division plan and submit an application to the Registrar giving full details about the division. Reason will have to be specified in the Resolution of the managing committee.
The Registrar may, after examining the details furnished in the application and other particulars which he may call upon the society to furnish, give his approval to the division if he considers such division to be in the interest of the society.
It will be advisable that the society pays off all its liabilities in full before making the application and declare in state the fact in the application that no liabilities are required to be split. This will simplify certain procedures.
After the Registrar’s approval is received the Committee should convene a special general meeting by giving notice of at least 15 clear days to all its members and pass a resolution for the division by two-third majority of the members present and voting at the meeting.
The resolution so passed shall contain the purpose and the full scheme indicating how the proposed division would be useful to the society and be given effect to.
The society shall submit a report to the Registrar of the action taken by it and request him to give effect to its decision division or by registering the new societies and canceling the registration of the society which has been divided.
On receipt of the report from the society as above, the Registrar shall, after satisfying himself that the procedure has been properly followed, register the divided societies and cancel the registration of the society which has been divided .
PART II
In case creditors were not paid off it will involve the split and transfer of liabilities of the society.
The society shall give written notice in Form ‘G’ to all its members, creditors and other persons whose interests are likely to be affected by such transfer.
Form G requires following particulars in the Notice to members, creditors and other persons whose interests will be affected by the division
Date of Resolution by a special general meeting of the society
Statement showing the assets and liabilities of the society (to be enclosed)
Names of members and creditors :
Name of the society.
Present area of operation :
Statement showing assets and liabilities (to be enclosed);
Names of members
Names of creditors
Particulars of the existing society.
Assets and liabilities which will remain with the society after division (statement to be enclosed)
Proposed area of operation.
Names of members who will remain with the society.
Names of creditors who will remain with the society.
Particulars of NEW society.
Assets and liabilities which will remain with the society after division (statement to be enclosed)
Proposed area of operation.
Names of members who will remain with the society. (iv) Names of creditors who will remain with the society.
Names of creditors who will remain with the society.
Declaration that any person, whose interest is affected by the proposed division may send his objections, if any, and give intimation of his option to become a member of any of the new societies/to continue his membership in the society/to demand payment of share or interest or dues, to the office of the society within one month from the date of this notice.
If no option is exercised and if no objection is received within one month, it will be assumed that the interested person have assented to the decision.
The notice shall also be published in at least one newspaper in circulation in the district in which the society’s office is situated and a copy thereof shall be exhibited on the notice-board in the society’s and Registrar’s office. [Provided that the State Government may, in the case of any society, dispense with the giving of such notice, regard being had to the extent of liabilities, the financial position of the society and its members and other relevant factors pertaining to such society.]
Within one month from the date of this notice the members, creditors and other persons whose interests are likely to be affected by the transfer of the society’s liabilities may exercise their option failing which they shall be deemed to have assented to the transfer of liabilities of the society to another society.
The society shall meet in full and otherwise satisfy all claims of members and creditors and other interested persons who exercise the option.