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Sayed Maqsood Ahmed   20 June 2024

audit if account for the Year 2023-24

learned lawyers

our present adhoc committee of the cooperative housing society was formed by the Registrar in November 2023 after the resignation of the ex MC members.

so far, no new election is being held due to the lok Sabha election, which concluded recently as told by the Registrar.

we are planning to hold the new election very soon .

in view of above facts, we would like to know if draft audit of the financial accounts for the year 2023-24 must be conducted by internal and external Auditors and also can we hold AGM on or before 30th September 24.

many thanks for your valuable legal views

Best Regards


 4 Replies

T. Kalaiselvan, Advocate (Advocate)     20 June 2024

What is the constitution of Apartment Association, if it is a society registered under State Societies registration Act then Societies registration Act mandates that accounts of body should be audited and adopted by the general body every year. Further if it is an unregistered association then kinly check the bye laws to ascertain, whether audit is reguired by the bye laws then if required then get it audited.

If the association is registered and the bye laws of the association require audit, then audit is mandatory. If the association is not claiming exemption of its income u/s 11, then audit is not mandatory. However, if its income is more than Rs 1 Cr., then audit may be required, if the association's income is considered as business income.

kavksatyanarayana (subregistrar/supdt.(retired))     20 June 2024

The AGM of the society shall be conduted before the due date by giving notice with a minimum of 14 days to all the members.  After formation of the new Executive/Governing body shall conduct AGM for approval of budget with the majority of present members.  And the same may be filed before the Dy./Jt. Registrar of Cooperative Housing of socities of your district.

Sayed Maqsood Ahmed   20 June 2024

Many thanks sir

Kind regards 

Dr. J C Vashista (Advocate )     21 June 2024

Is it not the same question posted by you earlier which has been replied by experts  

posted a new topic in Forum Appointment of internal auditor before AGM 

Read more at:

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