No. of share holding by a member in chs + education & training fund

Mihir Joglekar (Querist) 12 June 2017 This query is : Resolved
Dear Sir / Madam,

Good Morning,

Ref : Recent Changes in By Laws of Co-operative Housing Society & MCS Act 1960.

With respect to above reference I have a query :

Currently in our CHS located at Pune,MH we are holding 5 No. of Shares per Flat Owner. As per recent changes is it necessary to collect additional Share Capital for 5 Shares @ Rs.50 / per share.

(Applicant to take 10 shares of Rs.50 each as against 5 shares. Bye law No.22 on rights of membership talks about the right to receive the notice of demand from society if there is increase in minimum contribution of member in share capital.)

If yes we will immediately initiate the process .

Further, is it mandatory to raise Education & Training Fund to educate Members, Officers & Employees ?

Thanking You,

Sincerely Yours,

M B Joglekar

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