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narayanan ck   02 March 2024

Audited balnce sheet not approved - committee resigned

sir, audited balance sheet was not rejected outrighly but raised certain technical objections during the AGM. accordingly, the MCM members rectified the technical objections through the auditor and an SGM called to accept the same. They  again unnecessarily created problems (an ego clash)and disturbed the meeting and ultimately the meeting was called off.  due to frustration 7 members have resigned from the commitee including the secretary and  treasurer as they found it difficult to work like this way. the chairman called an SGM informning the members about the resignation of the members and to request to take necessary action. few pmembers came (below quoram). again another SGM was called to discuss this issue. only few members attend. Now it is  propsed to write to Dy. Registrar for doing the needful - can anyone give their advice. (the balance sheet not apprroved and no auditor appointed for the current f.y) 

Read more at: https://www.lawyersclubindia.com/forum/details.asp?mod_id=231082&offset=1


 2 Replies

T. Kalaiselvan, Advocate (Advocate)     02 March 2024

The balance sheet and the audited accounts will be approved by the general body in an annual general body meeting only.

If there is no quoram then the agenda of the meeting cannot be discussed and no resolution can be passed.

If the office bearers have resigned then on the advise of registrar a new body has to be elected following the procedures. 


Dr. J C Vashista (Advocate )     03 March 2024

Presumably it is a cooperative housing society which is governed by State Cooperative Soceities Act.

Even if 3-4 members are also not there in the present managing committee call for SGM, appoint an ad-hoc committee to conduct fresh elections of MC as per rules and get the balance sheet approved.

Avoid intervention of Registrar Cooperative Societies as far as possible and sort out problems within house, otherwise repercusson will be very harmful to the Society.

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