M-20
mehul
(Querist) 21 August 2011
This query is : Resolved
My society was register in 2005. So please advise that M 20 form is mandatory to our committee members.If yes, then pls. clarify that our Committee members can signed the development agreement if they had not submitted the same M-20 form.
ajay sethi
(Expert) 21 August 2011
yes it is manadatory . within 15 days from election of new committee memebrs of managing committee have to execute indemnity bond . call for fresh elections . then execute indemnity bond .
if you sign development agreement any disatisfied memeber may drag you to court assail the agreeemnt on grounds bond not furnished .
M V Gupta
(Expert) 23 August 2011
I agree with the views of Mr. Ajay Sethi. The Bombay HC in A.Sangameswaram & Anr VS Dy Registrar of Coop Societies (2006 (1) Mh L.J. 280)held that all those memebrs who have not signed the bond as prescribed in the MCS Act will be deemed to have vacated their office on the expiry of the 15 days from the date of their assuming office as memebrs of the MC.
