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Sayed Maqsood Ahmed   06 May 2023

audit of coperative housing society

dear learned advocates

I suspect some financial embezzlement in our housing society.

can I ask the MC of our society that I would like to hire an independent CA to audit the past financial records of our society.

kindly make me aware about any bye law pr rules under Maharashtra coperative society act 1960 for this purpose

thanks for your quick answer.

Best regards


Learning

 4 Replies

T. Kalaiselvan, Advocate (Advocate)     06 May 2023

If you have doubt about the audit report submitted during the AGM and have clinching evidences to prove that the misappropriation or embezzlement have not reflected in the audit report, you may raise the issue in the AGM and insist to withhold  the proceedings.

If the association do not pay heed to your allegations/objections, you can report this illegal activity to the registrar of cooperative societies and seek its intervention to get it re-audited  and to hold responsible the office bearer for the misappropriation of funds 

Sayed Maqsood Ahmed   06 May 2023

Dear learned advocate

Many thanks for your valuable legal opinion

Best regards 

T. Kalaiselvan, Advocate (Advocate)     07 May 2023

You ae welcome for your appreciations

Dr J C Vashista (Advocate)     07 May 2023

Auditor has to be choosen by MC of the Society from CAs empanneled with the Registrar Cooperative Societies of your State.

No one can super-impose / engage / appoint private CA over the auditor selected from empanneled CA for auditing Society accounts, which are to be approved by AGM of the Soceity (after audit).


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