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Shashank Udavant   25 September 2024

First agm of cooperative housing society

After forming the cooperative society and as required by the By-Laws we have conducted first general body meeting on 16/12/2003 within 3 months of formation of society.

When should we conduct the AGM? Before 31st September 2024 or within 1 year of forming the society or within 1 year of first general body meeting?

Thanking you in advance



Learning

 4 Replies

T. Kalaiselvan, Advocate (Advocate)     25 September 2024

You may visit the bylaws if your association in which you can find all the specifications and procedures and proceed accordingly. 

kavksatyanarayana (subregistrar/supdt.(retired))     25 September 2024

In the bylaws, there will be a column for General Body meetings and their functions and if you have mentioned the month as noted in the bylaw, you have to conduct the AGM shall be conducted every year  I

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     25 September 2024

You held the first general meeting of your society in 2003. And you have not held any general meeting for more than 20 years after that. That is surely not acceptable. The main purpose of the AGM is to close annual accounts, get it audited and present it to the general meeting for approval. Whatever date that you may have held your first general meeting, at the next 31st of March you must close the accounts and get it audited by the auditor whom the general meeting would have appointed at the first meeting and present the accounts for approval before the general meeting before 30th September of the same year. That general meeting is called the AGM. Thereafter on every 31st of March you must close the accounts, get it audited and present it to the AGM.

Shashank Udavant   26 September 2024

I am sorry. There was a typo mistake in my question. First AGM was held on 16/12/2023 and not 2003. Sorry for the confusion. 


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