MUMBAI: To avoid year-onyear delays, triggered by eight months of lockdown, to submission and approval of audits and budgets by cooperative housing/credit societies, the state government has delegated powers of general body to their managing committees or board of directors.
Therefore, the managing committee or board of directors can now appoint auditors, approve surplus disbursements, and prepare a new budget without holding the general body so as to fasttrack financial modalities before March in the current fiscal 2021.Click here for more details
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