SOCIETY REGISTRATION AND FORMATION
Forming a legal society is of utmost importance. It helps society owners to reap unlimited benefits and maintain smooth functioning. It is mandatory for developers to create societies and provide a final handover to the owners. However, many developers do not comply with these procedures and hence flat owners lose that added benefit that a legal society enjoys.
We, the “VED LEGAL” provide registration and formation services which help you at every step of society formation, right from inception to final handover. We look after all the legal complications involved in society formation and carry out necessary negotiations with developers.
We have also completed the registration process for various projects. We specialize in society formation of housing societies, commercial societies, maintenance societies and large townships. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.
Our specialized services include:
Gap identification and ratification
Process documentation and finalization
Society name reservation at respective co-operative departments
Account formation and legal documentation
*SOCIETY FORMATION AND HANDOVER
60 % of the Promoters are must be ready to form Co-op. Housing Society.
If flats are sold as per the Maharashtra Ownership Flats Act,1963 [MOFA] then it is the duty of the Builder / Developer to form society and hand over the Account + Documents to Provisional Working Committee [PWC] In this case the builder become CP and other flat owners become Promoters for Registration purpose. This society registers under Co-operation.
When the builder is not registering society due to some reasons or not support to registered society then flat purchasers can apply for registration of Co-operative Housing Society under Non Co-operation. In this case one of the flat owners should be elected as CP for Registration purpose. In this case some more time is taken to registered society as registrar is issue notice to builder for Non Co-operation. If no response then ex-party decision are taken for registration of the society. Now all the case of Non Co-operation Registration decisions is given by District Deputy Registrar [DDR] then society is registered
All flat owners should hold meeting and elect Promoter. All power for Registrations, documentation etc. should be given to promoter. The resolution should be passed and must be sign by all flat owners who wish to become member of the Co-operative Housing Society
Appoint Consultant / Legal Advocate for registration and ask him to comply all requirements. All members together also can do work for registration.
For registration of Co-op. Hsg. Society the following documents should be filed to Dy. Registrar / Asst. Registrar of Co-operative Department area concern in order as follow
Applications for Name to be reserved for Proposed Society’s
Form of resolution electing a CP and Promoter and giving them authority for doing certain acts on behalf of the proposed society
Application form “A” 4 copies
Information in Annexture ” A ” ” B ” ” C ” 4 copies
Bye-Law of the Society 2 copies
Details of Accounts Annexture ” D ” 2 copies
Bank Balance Certificate in Original 1 copy in Original
Agreement of Flat 1 copy
Advocate Search Report 2 copy [Title Certificate]
Society’s Building Plan 2 copies
Lay Out Plan 2 copies
Sanction Plan from Authority 2 copies
O.C / C.C copy 2 copies
Promoter’s Guarantee in form ” X ” On Rs. 100/- Stamp paper & notarized 1 copy
Guarantee in form” Y ” On Rs. 100/- Stamp paper & notarized 1 copy
Guarantee in form ” Z ” On Rs. 100/- Stamp paper & notarized 1 copies
7/12 or City Survey Revenue Record of Land [not more than 1 month old] 1 copy
Promoters Affidavit On Rs. 100/- Stamp paper & notarized 1 copy
Indemnity Bond On Rs. 100/- Stamp paper & notarized 1 copy
NA Certificate / ULC 2 copy
Plot area Land Map 2 copies
Registration Fee Challan for Rs.2500 1 copy original
Builder Non Co-operation form Z On Rs. 100/- Stamp paper & notarized if required 1 copy
CP Affidavit for Child Labour on Rs. 100/- Stamp paper & notarized 1copy
All this forms are available at your District Co-operative Housing Society Federation.
On submission of above document the Dy./Asst. Registrar will go through the papers And document. If found OK he will make order for issue of Registration Certificate.
If any deficiencies are found then the applicant will be inform accordingly and documents will be corrected wherever necessary. When all papers are in order, he will issue order for issue of Registration Certificate.
Registration Certificate is issued with covering letter and Officer’s name is mentioned who will attend First General Meeting. Normally the Officer concern is not attending meeting. In absence , all member has to hold meeting and has to elect Provisional Working Committee [PWC] whose working period will be ONE Year. After electing PWC the member of PWC has to submitted the M-20 bond on Rs. 100/- stamp paper with the sign of Officer’s whose name is in Covering latter to Dy./Asst. Registrar. All Rule and Regulations ,resolution and minutes which is written in AGM Register must be sign by Officer’s name is mentioned in covering letter it is the most important step.[Many society forget this which create problem latter] After First Annual General Meeting PWC is replaced with new Working Committee [WC] whose working period will be FIVE Year.The new WC election can conduct before PWC time over with proper election process. WC also has to submitted the M-20 bond on Rs. 100/- stamp paper with the sign of election officer to Dy./Asst. Registrar
When application for Name reservation of Society has given, the Dy./Asst. Registrar give instruction to Open Bank Account in Dist. Central Co-op. Bank The Account has to opened in the name of CP And deposit all money of Share Capital Contribution [per member Share Money is Rs. 50*10 = Rs. 500 i.e. 10 share of 50 rupees each] and Member ship Fees of Rs. 100/- i.e. Per member you have to deposit Rs. 600/- in bank and obtain Bank Balance Certificate and submitted it to Dy./Asst. Registrar. After First Annual General Body Meeting the Bank Account has to transfer in the name of Society. For bank Account operation Chairman sign must and either Secretary and Treasurer. Expenditure has to be made as per provision of Bye-Laws. Bank and Cash Transaction [Collection and Payment] are handled by Treasure when Billing Clerk or Accountant are not been kept.