Printing of advertisement on annuaaudit report,balance sheet
sudhakar s. yeradkar
(Querist) 23 August 2018
This query is : Resolved
Respected Sir / Madam,
The Annual General Body Meeting of our co-op housing society has been scheduled on 2nd Sep, 2018. The meeting notice is displayed on Notice Board only and it is not circulated to the members of the society yet.
We understood that the executive committee has printed the advertisements on the Audit Report, balance sheet etc. One doctor has sponsored the printing expenses in return of printing of his advertisements on the reports etc.
We would like to know whether it is as per bye laws to display notice only on notice board?
As on date we have not received notice individually as stated in the byelaws nor committee has sent notices to the members who are residing at another places.
Can anyone raise the objection for not receiving AGM notice in time as stipulated in the bye laws.
And is it acceptable to take a sponsorship to print Audit Reports and balance sheet from the sponsorer by publishing his advertisement in the important and valuable reports?
We seek your expert advise.
Thanks
K Rajasekharan
(Expert) 23 August 2018
You can definitely raise the issue in the general body if they have not followed what is provided for in the bye-law in regard to serving of notice to all its members.
But printing of some advertisements on some pages of the distributed materials does not make the documents or distribution illegal.
Dr J C Vashista
(Expert) 24 August 2018
It is not compulsory but mandatory to circulate notice of AGM along with annual audited accounts to each and every individual member of the Society.
You must attend and raise the issue in AGM, however, go through (State) Cooperative Societies Act and Rules with Bye-Law adopted by the Society or consult a local lawyer before the meeting.
H.M.Patnaik
(Expert) 25 August 2018
Dear Querist you have not indicated the state where your Housing Co-op. is registered, so, it will not be proper to answer your query as such. However, as advised by other Experts ,the only remedy that lies in your case is to attend the AGM as fixed and raise the issue ,so that the same can be resolved as per the bye-laws and applicable provisions laid down in the state law.
H.M.Patnaik
(Expert) 25 August 2018
Dear Querist you have not indicated the state where your Housing Co-op. is registered, so, it will not be proper to answer your query as such. However, as advised by other Experts ,the only remedy that lies in your case is to attend the AGM as fixed and raise the issue ,so that the same can be resolved as per the bye-laws and applicable provisions laid down in the state law.
