Investment opportunities for chsl & fire insurance
Mihir Joglekar
(Querist) 10 August 2017
This query is : Resolved
Dear Sir / Madam,
Good Afternoon,
I the undersigned is member cum Secretary for a Coop Housing Society Ltd, Pune. My query is other than investing in FDs with Coop / Nationalised Banks are there any other investment options for CHSL where the society will be able to fetch more income than what it is currently obtaining.
Secondly, is it Mandatory to have Fire Safety Audit and All buildings in our society to have Fire Insurance ?
Thanks & Regards,
Mihir Joglekar
Rajendra K Goyal
(Expert) 10 August 2017
Refer the society bye laws / registrar guidelines. Society money may not be invested in risky schemes.
Hemant Agarwal
(Expert) 30 December 2017
1. Subject to compliance u/s 72 of the MCS Act and subject to amendment in the bye-laws and approval of the Registrar of Coop., Society Funds can be invested in pre-determined venues.
2. Fire Safety Audit for all residential buildings is mandatory under the Fire Act, contrary to which, is a punishable offence.
Keep Smiling .... Hemant Agarwal
