sanjay (nil) 10 February 2010
Ours is a commercial society registered under the Maharashtra Cooperative Societies Act 1960, and situated in Mumbai, consisting of chawl type structures. Our society has recently entered into a Development Agreement with a Developer. One of the signatories to the Deed, from the society, is an Associate Member, who does not hold any gala(shop) in his name, but has been an Associate Member of the society for over 5 years. Will his signature on the Development Agreement be valid?
Daksh (Student) 10 February 2010
Dear Sanjay,
There are two limbs to your query under reply. One is the competence of the Associate Member to do or not to do a particular act by and on behalf of your society - which could be evident from the perusal of the Articles of Association and or modalities of mandate if any for this purpose by the office bearer of the society.
Secondly even if express authority is not vested there is no bar that whatever act has been done by such member can get ratified by the society in its meeting.
I hope your query stands satisfied.
Best Regards
Daksh
Member Strength 9,47,311 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
