Important points about AGM

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Crucial information related to the Society AGM Meeting Rules:

• The audit shall be done within four months from the 31st March, i.e. by 31st July.
• The Annual General Meeting should be held before September 30.
• If the committee fails to call a meeting by September 30 then the registrar has the authority to call a meeting.
• The committee shall decide the date, time and place of Annual General Meeting of the Society and the business to be transacted thereat.
• When the annual meeting is decided to be held, the notice of the meeting should be issued to the members or delivered to them via post or email. Also notice should be put on the society’s notice board.

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Points to Note:

• All rights belong to the Annual General Meeting.
• The Chairman of the Society shall preside over Annual General Meeting of the Society, in case if the Chairman is absent or if present and is unwilling to preside, the Members present may elect a person from amongst themselves to preside over the meeting.
• The quorum for every Annual General Meeting of the Society shall be 2/3rd of the total number of Members of the Society or 20, whichever is less.
• If there is no quorum, the meeting, shall be adjourned to a later hour on the same day and at the same place, as may have been specified in the notice.
• It is the right of the member to attend the Annual General Meeting.
• The Associate Member may attend the Annual General Meeting and vote with the prior written consent of the member.

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• In case of Co- Member, if the member whose name stands first in the share certificate is absent at Annual General Meeting , then whose name stands second in the share certificate can attend the meeting and vote.
• In terms of the law, decisions made during Annual General Meeting bind all members. Without being present at the meeting, “I did not attend the meeting, I do not agree with the decision”, say those who are half-hearted or childish.
• The management engages in transactions that are beyond his jurisdiction but within the framework of the Society’s objectives, may be approved at the Annual General Meeting.

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The following items should be brought to the attention of the Annual General Meeting:

• To read the minutes of the last Annual General Meeting of the Society, and to note the action taken thereon;
• To receive from the committee, the Annual Report, Income And Expenditure and the Balance of the preceding year;
• To consider Audit Report;
• to receive from committee the Audit Rectification Report and Action taken thereon;
• To place Annual Budget for the next Financial Year for consideration;
• To consider any important communications received from the Registering Authority, the Statutory Auditor, Government, Collector, Local Authority or any other Competent Authority;
• To declare date and conduct of election of its Committee when due,
• To consider any other matter, with the permission of the Chairman after the regular agenda is over;
• To appoint an Auditor, for the Audit, from the panel approved by State Government;
• To approve transactions engaged by the management that are beyond their jurisdiction but within the framework of the Society’s objectives;
• To incorporate Society’s name on 7/12 Extract or Property Card;
• To obtain conveyance from the Owner/ Promoter Builder.

• Get consultation for smooth conduction of AGM.

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Following the meeting:

• The committee shall finalize the draft minutes within 3 months of the date of the meeting and circulate the draft minutes amongst all the Members within 15 days. The Committee shall prepare the final minutes of the meeting after taking into consideration the observations, if any, made by the members and cause them to be recorded in the minutes book.
• No resolution can be brought at Annual General Meeting of the Society, cancelling its previous resolution, unless six clear months have elapsed, after passing of the previous resolution.
• If there is a conflict over the Resolutions of the Managing Committee and General Body, it would be addressed before the cooperative court.
• The Registrar can demand compensation from the responsible persons if the society has suffered as a result of fraud in the audit, deception, or committee carelessness.
• If the Audit Rectification reports are not submitted to the Annual General Meeting or the Registrar and the Committee found guilty, the Committee may face legal action.
• If an office bearer fails to call Annual General Meeting, he or she may be disqualified from being re-elected for a period of five years.

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