gentlemen
i have to narrate that :
a co op housing service society ltd, registered with the registrar in ahmedabad, gujarat is not supposed to demand and accept any share transfer fees or development fees from a new member who is buying a property in that society under resale. such member is expected to pay the share transfer fee only as per the approved bye-laws of the society.
however, this service society is demanding 3,00,000 rupees from the new incoming member before the share certificate is transferred in their name under the head share transfer fee and development fund.
though the bye-laws does not permit such demand and acceptance of extra money from the new members, the society still goes on taking money and the auditor audits the books of accounts and issues the auditor's report.
under such circumstances, whether the action of this auditor is wrong or not and whether the affected member of the society can approach the institute of chartered accountants of india for debarring such auditor under PROFESSIONAL MISCONDUCT.
what steps the member can take against the society and the auditor in particular in the above issue.
your valuable suggestions and guidance will be appreciated.
rgdards
