gujarat co-operative society law 1961 section 71

board can decideof management or by the generalbody 

Hello,

Cooperative Societies and Banks are not allowed to invest their money in Mutual Funds and also in FD's of Private companies. As for as Cooperative Banks are concerned, they can not invest in another Cooperative Banks. They can in invest in Schedule Banks, Government Securities and in the securities as prescribed under Sec.20 of Indian Trust Act, 1882. Reserve Banks has allowed the Cooperative Banks to invest 5% of their incemental Deposits in Mutual funds.

As for as Credit and othe cooperative Banks r concerned, they cannot invest in Mutual funds as allowed by RBI for Banks. They can only invest in Cooperative Banks, DCCB's, Securities prescribed unde Sec.20 of trust Act, Schedule Bnaks etc.

Dear Sir,

How mauch the transfer fee limits are there Residential Society Registered under Gujarat Co-op. Society Act (NTC)  & waht legal action can be taken if charged more than the limit? Also what action can be taken if the said soceity accounts have not been verified by any CA nor audited since last 5-7 years ?

This for Gujarat Society

any NTC is registered under which act (Gujarat) ??? is NTCs are corrently a valid form of constitution ? if not then existing NTCs are required to get registered under which act ??? if they are not so upgraded what shall be the effect ???

I would be thankful if anyone can guide on these ....