June 30 new deadline for hsg society polls

Cooperative housing societies can now elect managing committees by June 30 instead of the earlier deadline of December 31. The state legislature recently cleared the deadline extension.

The state had told societies to complete elections by December 31. Experts said the cut-off date was “unrealistic“ since many societies had not held elections over several years. “The extension will help us comply with due procedure with an extended period for hearing of objections over nominations,“ said a society functionary.

After the deadline was initially set at December 31, many societies had been asking members to attend urgent meetings to decide on the election agenda. Some had issued an ultimatum to members and told them to pay pending dues within a short span of time to become eligible voters. Moreover, several rounds of meetings had to be held by societies to make members aware of the new regulations before going in for elections.“Several members live abroad or out of the city and have rented their flats. We need to do the groundwork to ensure free and fair polls,“ said a member from a housing society in Chembur.

“Our society recently issued a notice asking us to pay maintenance and repair dues within four days. How can we shell out the amount in such a short span of time? They should give us at least a fortnight,“ said a resident of Shivaji Park, Dadar.

Experts said they were getting many calls from anxious residents to convene meetings to spread awareness on new rules and help housing societies comply with the new regulatory administration.

“We had started conducting meetings to create awareness among members, auditors and employees and labourers working in housing societies in order to ensure maximum participation of societies and their members in the elections,“ said Surendra More, vice-chairman of Bombay Suburban District Housing Federation.Ramesh Prabhu, president of the Maharashtra Societies Welfare Association, said his organization was guiding people on how to file all the details online and upload audit statements. Elections of all housing societies are being conducted through secret ballot, provided there is no unanimity over managing committee candidates.

December 29 2014 : The Times of India (Mumbai)
by Chittaranjan Tembhekar, Mumbai

Times of India issue dated 29 December 2014 - June 30 new deadline for hsg society polls

 

By overstaying, a licensee cannot claim tenancy rights

law

With the passage of the time the system of giving properties on leave and license basis in Maharashtra is taking roots, but still a good number of the property owners are apprehensive; because they are not sure that they would get back the possession of the properties on the expiry of the term.  However, in view of the latest judicial pronouncements, such fear seems unfounded, provided legal requirements are complied with.

Click Here for the recent judgements and precautions to be taken

By Accommodation Times News Services

New Election procedure for Co-operative Housing Societies

The Government of Maharashtra has amended the Maharashtra Cooperative Societies Act, 1960 in 2013 and introduced new election procedure for cooperative housing societies.

We have explained the procedure as per the Act regarding elections to be conducted by the cooperative housing societies.  We trust that you will find the same useful.

Click Here for the full procedure By Accommodation Times News Services By Sunil Deshmukh, District Deputy Registrar (Retd.), For K.K. Ramani & Associates

Online Society Registration

CA Shri. Ramesh Prabhu, Chairman, MSWA has launched Mswa News Channel on YouTube. We have uploaded several videos related to various issues of co-operative housing society.

Here is the video on the present burning topic i.e.  “ON LINE SOCIETY REGISTRATION”. You are requested to view this video for getting more information & knowledge.

How prepaid mobile subscribers are being looted

Prepaid, mobile subscribers, TRAI, airtel, vodafone, idea

Arbitrary hikes in data and call charges for prepaid subscribers are frequent and not limited to just one mobile operator. In addition, Vodafone and Idea have reduced 3G prepaid data pack validity to a non-standard 28-days, thus forcing the user to recharge 13 times in a year instead of 12

Subscribers of Bharti Airtel have right to be furious over the mobile operator’s decision to charge extra for subscribers using voice over internet protocol (VoIP) apps, like Skype, Viber, Facebook Messenger and Google Hangouts. However, Airtel is not the only one who is charging more to its own subscribers. Several mobile operators like Vodafone and Idea Cellular are discriminating between their own post-paid and prepaid subscribers by enforcing non-standard validity period for internet packs. This follows an arbitrary hike in mobile data tariffs for 3G packs irrespective of whether the subscriber really gets the specified, minimum speed for internet or no.

Click Here for the full story by Yogesh Sapkale

How Listed Companies Launder Money

The Securities and Exchange Board of India (SEBI) has set anti-money laundering guidelines to put in place stronger checks against possible laundering of funds through capital markets. Despite the regulations in place, SEBI recently sought help from various investigative agencies under the finance ministry on alleged money laundering in listed companies. According to reports, the markets regulator had written to the finance ministry, highlighting the method used by certain low-value companies to evade taxes.

The quantum of the alleged tax evasion is said to be pegged at Rs 20,000 crore

Such manipulative trades involves an entity seeking long-term capital gains exemption by approaching an operator, who finds out an illiquid stock on the exchange platform and gets an allotment of shares done to the entity. Over a one year at least period the operator rigs the stock price up to a pre-determined level. This is when the foreign entity gets in, and gullible investors get in taking the stock higher as the earlier entity gets out. This enables conversion of unaccounted money into tax-free long term capital gains. Watch the video:

Click Here for the full article