multi state cooperative society

In case of multi state cooperative societies which do not have share capital, the surplus of income over expenditure should not be treated as net revenues and such surplus will be dealt with in accordance with the bye-laws. A multi state cooperative society shall, out of its net earnings in any year move an amount not less than twenty-five percent to the reserve fund, credit one percent to cooperative academic training fund kept by the National Co-operative Union of India Limited,

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multi state cooperative society act

New Delhi or transfer a quantity not less than 10 percent to a reserve fund for conference unanticipated losses.Time Taken for registration: -.Generally, the maximum period for a multi state cooperative society registration is 4 months. In case, the application receives an objection, because case, the application can be submitted again and in particular circumstances, the society registration can be done earlier likewise on the basis of earlier rejections or on political pressures.

Registration, the amendment proposal is also filed in the Ministry of Farming. We can submit modification if we desire to increase our location of operation i.e. cooperative society  number of states or enhance our authorized share capital or change our name or change our office address.The documents filed along with amendment proposal are bank statement, audited balance sheets showing net earnings and turnover. The ministry demands justification and correct reasons why a society proposal should be changed.

SP Kushwaha
MSCS

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cooperative society

multi state cooperative society

There is a restriction on loan. No multi state cooperative society other than cooperative bank shall make a loan to a member on the protection of this share or on the security of a non-member. The society can make a loan to a depositor on the safety of this deposit. The multi specify society my receive deposits, raise loans and receive grants from external sources to such extent and under such conditions as could be pointed out in the memorandum offered that the total quantity of loans and deposits gotten during any cooperative societies monetary year should not exceed 10 times of the sum of subscribed share capital and accumulated reserves. The net accumulated reserves is calculated by deducting accumulated losses from collected reserves.

Location

Perks of a multi state cooperative society: -.Generally, a multi state cooperative society delhi is a beneficial alternative for all realty companies, public restricted, exclusive restricted and chit fund business where practically saturation has actually reached. This Centre Act has been gone by the parliament in the year 2002. The objective of the multi specify society is to help with the voluntary development and democratic performance of cooperatives as individuals institutions based upon self assistance and shared aid and allow them to promote their economic and social betterment and to provide functional autonomy.

Address

Crystal Consultancy, Office Number- 204, 45B, 1st Floor, Hasanpur Main Road, Patparganj, I.P. Extension, Delhi- 110092

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