Validity of agm held by managing committee in society matters

Querist : Anonymous (Querist) 11 January 2012 This query is : Resolved
Dear Sir/s

This is regarding Maharashtra cooperative socities act 1960.
The managing committee in my building in new mumbai never submitted M-20 Form till date even after getting elected about a year ago. The Act provides that if the M-20 form is not submitted within 45 days of getting elected, then the committee members will be deemed to have vacated the office. Now, after getting elected the Committee held the AGM in August 2011 and passed various resolutions. My question is that As per the Act, if the committee members are deemed to have vacated office in absence of filling M-20 form, then will the conduct of proceedings, buisiness of the AGM and the entire proceedings of AGM automatically stand null and void and will not have any legal effect? If yes, then does it also imply that new election of committee should be held?
Also, what penal action or pecuniary action lies on Secretary and President of the Society for failing to fill M-20 Bond and also not ensuring that other committee members fill M-20 bond too.

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ajay sethi (Expert) 11 January 2012
please remember one important fact . in cooperative societies inn mumbai no one wants to be an office bearer . it is all honorary service . although bond is mandatory many societies in mumbai have office bearers who have not executed indemnity bond .

if no bond is executed complain to registrar . he will after issue of notice appoint adminstrator and call for fresh elctions .

DEFENSE ADVOCATE.-firmaction@g (Expert) 11 January 2012
If it is housing society and no loan due , no body will bother.

Rajeev Kumar (Expert) 11 January 2012
I agree with sethi

Raj Kumar Makkad (Expert) 11 January 2012
The proceedings initiated in the AGM are null and void due to non-submission of mandatory form but it shall have to be got it null and void either by way of order of Joint Registrar or the civil court.