What is Section 101 of Maharashtra Cooperative Societies Act?

The Section 101 procedure is a simpler way of realizing arrears of society dues without instituting the cumbersome court proceedings a compulsion in business which require establishing debt due by a debtor to a creditor in the course of business a profit making activity necessarily. 2.

What is cooperative society Act in India?

An Act to amend the Law relating to Co-operative Societies. WHEREAS it is expedient further to facilitate the formation of Co-operative Societies for the. promotion of thrift and self-help among agriculturists, artisans and persons of limited means, and for.

What is the difference between society and cooperative society?

Society is a group of people living together in the same geographical location. Cooperative society is a group of people, who are not only living together in the same geographical location, but having agreement for cooperation within themselves.

What action can be taken against defaulters in society?

Once the registrar’s office issues a certificate, a recovery officer can take action, which can even extend to the attachment or auction of your property. “There was no provision of action against defaulters in housing societies under article 101 of the Maharashtra State Co-operative Societies Act.

How do you deal with society defaulters?

What is the procedure to recover dues from society defaulters as per law? Step 1: The first measure is to send a simple letter of notice to the defaulter, informing him of the outstanding dues (with interest that could lead up to 21%) instructing him on how and when to pay the arrears.

How many types of cooperative society are there?

Types of Cooperative Societies – 6 Main Types: Consumers’ Co-Operative Societies, Producers’ Co-Operative Societies, Co-Operative Marketing Societies and a Few Others. Co-operative societies may be classified into different categories according to the nature of activities performed by them.

What are the types of cooperative societies?

Types of Cooperative Society

  • 1] Producer Cooperative.
  • 2] Consumer Cooperative.
  • 3] Credit Unions.
  • 4] Marketing Cooperative Society.
  • 5] Housing Cooperative Society.

What is Section 101 of the Cooperative Society Act 1960?

With a view to make it easy for cooperative societies to recover amounts due by members exceptionally special provision/procedure has been introduced in the legal system of the State by inserting Section 101 in the M C S Act 1960.

What are the claims of Co-operative Society against its members?

v The claims by the Co-operative Society for recovery of its dues against the members and surety of a member, based upon the execution of documents as well as on the basis of statement of accounts, are maintainable u/s 91 of MCS 1960.

Do Co-operative Society secretary have to work full time?

From last 20 years & has made a policy that if any one who becomes secretary will have to work full time. Cooperative societies, especially Cooperative Housing Societies (CHS) having less than 100 members, can now heave a sigh of relief in respect of guidelines for holding elections to managing committees.

What is the importance of Maharashtra Co-operative Societies Act 1960?

Essentially, the Co-operative movement is based on Co-operation between its members. Unfortunately however, it is human nature to dispute and so disputes are rather commonplace among the members. Thus, the importance of the Maharashtra Co-operative Societies Act 1960 cannot be undermined.