Housing society

As of the date of finalization of the balance, the committee which is on that date shall sign it.

.Present managing committee shall have to sign the documents as previous MC donot exist

The previous offcie bearers are obligated to hand over accounts/ to the incoming employee so the currant person will be responsible person to issue balance sheet. 

Thank you all for confirming my doubt.

Hi, I think the managing committee.

In housing societies, the responsibility for signing the balance sheet of a previous financial year typically falls to the current office bearers or managing committee in place at the time of the audit's completion. This practice is common because the previous committee members may no longer hold their positions or be available to sign the documents. Therefore, the current committee assumes accountability for the society's financial statements, even for periods during which they were not in office.

This approach is supported by discussions among legal professionals. For instance, on the Lawyers Club India forum, experts have indicated that the present managing committee is responsible for signing the balance sheet, as the previous committee members are no longer in position.

It's important to note that while the current committee signs off on the financial statements, they should ensure that all necessary documentation and explanations from the previous period are thoroughly reviewed. This due diligence helps maintain transparency and accuracy in the society's financial reporting.

In summary, when there is a change in office bearers, the current managing committee is generally responsible for signing the balance sheet for previous years, ensuring continuity and compliance in the society's financial affairs.

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