what is the procedure to start benificiary sociaty
i.vasudevan
(Querist) 11 July 2009
This query is : Resolved
i have one doubt,,, how the beneficial society running? what is the procedure to start beneficial society... under which Act it could be register?
Example:
like kilpauk beneficial sociaty ,, purasaivakkam benificial sociaty,,
A V Vishal
(Expert) 12 July 2009
Beneficial society for what, generally a society can be formed under the societies act, how ever certain other laws have to be considered while incoporating the same for example if you want to open a society wherein you intend to take deposits from the members and pay interest and similarly intend lending money to members at lower rate of interest then permission of RBI is must to operate as a NBFC.
Hence it is necessary to explain the meaning of beneficial in your query.
Y V Vishweshwar Rao
(Expert) 12 July 2009
The law and procedue for formation of Society and its operation will be accordign to the purpose and needs of the proposed Society and its objects .
