Co operative share holders amount tranfered to reserve fund.

Pradeepkumar (Querist) 07 October 2017 This query is : Resolved
Dear sir,

I am the Secretary of the employees credit cooperative society.
Around 50 numbers employees left the the company with out communicating the society. Now the left employees share amount of Rs.600/- each employees lying with us from past 4 years.
As per the Bye law there is a option to transfer to share suspense amount to reserve fund.

Please help us shall we write letter to share shareholders address to get reimburse their share amount.
If any letter received from share holders we will reimburse the share amount after approval from Board.
If they not responded for our letter shall we transfer the share amount to reserve fund based on RPAD acknowledgement.?

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Rajendra K Goyal (Expert) 07 October 2017
Bylaws of the society has to be referred. May contact your Coop society Registrar office for guidance.

Information to concerned member is required otherwise also.

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