Form m-20
mehul
(Querist) 19 August 2011
This query is : Resolved
In late 2007, the Bombay high court had reiterated a provision of the Maharashtra Co-operative Societies Act, 1960, that makes it mandatory for the managing committees of co-operative societies to sign an indemnity bond within 15 days of assuming charge.Our society got register on April 2006, so our committee has to submit the same M-20 form.
Adv. Sunil
(Expert) 20 August 2011
Is this ur query or is it a suggestion to the society?
What do you exactly want, when u knw that the HC has made it mandatory, ur soceity is no execption to this.
M V Gupta
(Expert) 21 August 2011
Sec 73(1AB)of the MCS Act, 1960 has been recently amended extending the time for signing of the bond from 15 days to 45 days from the date of the concerned member of the MC taking charge of Office.Failure to do so will result in the concerned memebr vacating his office.The amendment came into force from 14-01-2011.
