Indemnity Bond


I attach a file containing recommendations of the Commissioner for Co-operation, Maharashtra to exclude and exempt co-operative housing societies from the requirement of executing indemnity bond by the managing committee members, which is self-explanatory.  It is quite logical, as housing co-op committee is doing a totall voluntary service to its own members and does not engage in any financial or other business activities.  When the Commissioner himself has felt the need for exemting the housing societies, I wonder why the eminent experts are not pursuing the matter with the Government to amend the relevant law! It has become a prime source of corruption to the babus in the Registrars' office.  So long as the law is not amended,  the harassed members doing voluntary service cannot expect any help from Courts.



Attached File : 19 19 gist of recommendation by mumbai district co.doc downloaded 161 times
 
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ha21@rediffmail.com Mumbai : 9820174108

1.  Coop. Commissior is only a Public Servant AND is not empowered to enact any laws.  His duty is restricted to implementation of the Law, as framed by the legislature.


2.   Nowhere in the Act the law says that managing committee (MC) members have to do voluntary work or public service or honorary service (sic).


3.  Nobody forces the members to become "MC" members.  They nominate themselves for the same, to glue themselves to the MC chairs.


WHEREAS,  WHY DOES THE  "MC"  NOT WANT TO EXECUTE THE  "INDEMNITY BOND".
 

WHY GET SCARED OF EXECUTING THE  "INDEMINITY BOND" .  and if  "MC" is scared THEN do not take up the posts of the "MC".  The govt. can appoint govt. administrators for managing of the society


THE "MC"  HAS ALWAYS BEEN HELD GUILTY OF  CORRUPTION, MISAPPROPRIATION OF MEMBERS FUNDS,  ACTING IN A VERY HIGH HANDED & DICTATORIAL MANNER,  which is even reflected in several Mumbai HC judgements.


Keep Smiling .... Hemant Agarwal
 

 
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