Maintenance after merging of two society
salamat
(Querist) 01 April 2022
This query is : Resolved
Dear All,
There were two housing societies formed in span of 10 years as society 1 comprising of two wings A and B. And later society 2 of c wing on same piece and part of land with same cts no. In Mumbai. After few years both society decided to merge and form one society.
After the merger new society was formed as Society X.
As society 1 had many assets including FD and others where as society 2 had less assets as compared to society 1.
My queries are
1. Can maintenance of members of society 1 members be different from members of society 2 after merger. Maintenance excluding the part of property tax and or any other tax fixed like parking
2. Two different accounts maintained for soc 1 and soc 2 and are merged at end of year for filing returns
3 what will happen to FD and assets of both societies after merger. Will they be evenly distributed amongst all members of new society.
4 the extra income from mobile tower of soc 1 will be distributed among all members of new merged society or it can be used and kept for members of society 1 in new society
Please guide
Thanks
kavksatyanarayana
(Expert) 01 April 2022
If the Dy. Registrar of Cooperative Housing Building Societies permitted to merge the societies, then automatically all the Assets and Liabilities of the merged societies becomes one Society and one for everything. The General Body in its very beginning meeting shall decide the things such as maintenance charges, FD funds, repairs, and other miscellaneous charges. And the Executive Committee shall file the minute's copy of the General Body before the Dy. Registrar of Cooperative Housing Building Societies concerned.
SHIRISH PAWAR, 7738990900
(Expert) 02 April 2022
Hello,
After merger of societies maintenance charges will be same. However, new society may decide the maintenance charges proportion of member by resolution in a meeting. Members will have the right to challenge resolution before registrar.
Two diffrent account after merger will not be possible as there will be only new society exist.
Assets and FD will be part of for new society balance sheet.
Income from any previous society will be of new society.
