How to Close Down Your Society

Last Updated at: Oct 30, 2020
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In June 2020, the Mumbai District Cooperative Housing Federation issued fresh guidelines for residential societies. These include the submission of Covid-19 medical certificates for not just live-in maids, but also all travelling residents of a housing society. The State Government also issued a directive saying societies cannot frame rules contradictory to government guidelines.

 

A housing society can be defined as a group of house owners residing in the same building, apartments or the premises who form a society as per the laws and regulations to ensure smooth functioning of utilities and other facilities that are provided to them.

Special Resolution

A co-operative society may, by special resolution, authorise its own dissolution. A notice of the general body meeting called for the purpose shall also be sent by registered post with an invitation to attend to the registrar, to creditors, if any, to any co-operative society to which the co-operative society is affiliated, and to any co-operative society with which a partnership contract has been entered into.

Presentation to General Body

The invitees only have the right to make a presentation to the general body, if they wish to do so, on the issue of the proposed dissolution. Within fifteen days of the authorisation for the dissolution, the co-operative society shall send to the registrar a copy by registered post of the authorisation to dissolve the co-operative society.

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After Authorisation

After receiving the authorisation, if the registrar is satisfied that the co-operative society has no assets or liabilities, he will dissolve the co-operative society, delete its name from the register of co-operative societies and issue a certificate of dissolution of such co-operative society. If the registrar is not satisfied, he will, within thirty days of the date of receipt of such a resolution, send the notice of the special resolution to be published (at the expense of the society) in the official gazette and in a newspaper in Hindi and English.

Certificate of Dissolution

In the case of dissolution, the Registrar may require, till the certificate of dissolution is issued by him, from the liquidator appointed by the co-operative society or from any other person who is required to furnish information, a periodical return showing the progress of dissolution; the distribution of any undistributed surplus or reserve; and any other relevant information. Also see Procedure for Forming a Housing Society