A cooperative housing society was registered in the name of Modi Xerox Employees’ Co-operative Housing Society Ltd. in the year 1995.
Land was procured, developed and plots were sold to the beneficiaries. Most of the plots were sold to those persons who have more than one house and are not willing to construct any house in future.
The society President and Secretary along with their nominated members managed the things till now. There was a huge amount of money with the society for future expenses and development. All of a sudden the Secretary went off. The president went off by resigning and they now say that there is no fund available.
Can the members constitute a new committee by election/nomination process and inform to Registrar?
Where to complaint against the persons who have eaten up the fund?
The present Secretary is hiding all the facts and protecting the previous President and Secretary. What action can we take against the present Secretary who is holding all the documents and funds?
Co-ordination Committee Members
Modi Xerox Employees’ Housing Society Ltd.
Rampur (Uttar Pradesh)
I C Naik
This is a classic example of a phenomenon that has hampered the development of cooperatives the most. On one hand few members in every cooperative are hyper-active causing harm, on the other vast majority is completely indifferent to the activities of a suspect few.
This bodes ill not only for society’s interests but also for the interest of individual member.
What you need to do immediately is to handover a requisition signed by 1/5th members to the Secretary requesting him to hold an extraordinary general body meeting to review the functioning of the Society through a Special Audit/Investigation to be requested for by an application to the Registering Authority.
Before taking action for money laundering a reliable documentary evidence has to be gathered through this process. Once the audit/investigation report is in hands things should hopefully start falling in place.
If the Secretary does not act on the requisition, hand over the same to the Registering Authority.