It is learnt that in many Societies, the
Managing Committees, who execute the documents with the Developers, do not possess
any legal holding as they have never filed/nor aware of filing the Indemnity
Bond in Form M-20 on a Stamp required under Section 73(1AB) and Rule 58A of the
Maharashtra Cooperative Societies Act 1960.
The members who fail to execute such Bonds within the specific period are deemed to have vacated his office as a member of the committee and no legal effects can be given to the documents executed by them with the Developers.
The members who fail to execute such Bonds within the specific period are deemed to have vacated his office as a member of the committee and no legal effects can be given to the documents executed by them with the Developers.
How can Ozg Help you?
Ozg Helpline # provides FREE advice for general
queries and for details / discussions with Ozgian
[URL: http://cooperative.ozgian.com
] you may book an appointment either online or at your nearest Ozg Center
by login at ozgcenter.org/appointment
Ozg
Cooperative Society Consultant
Ozg
Center, New Delhi & Mumbai, INDIA
Ozg Helpline # 09811415831-37-61-72-84-92-94
Office Timing: Mon - Sat, 9:30 a.m. - 5:30 p.m. IST
Email: cooperative.consultant@ozg.co.in
Note: To visit at any Ozg Center,
an appointment is required.
