S. Radhakrishnan
In case a existing housing society wants to come out of the clutches of the cumbersome MCS Act 1960 (amended) and the revised model bye-laws what are the options available and what are the procedure?
I C Naik
The Cooperative Housing Society cannot come out of provisions of the M. C. S. Act 1960, the M.C.S. Rules 1961 and its registered bye laws. To have an affordable house in Mumbai this is a pre-condition.
The members have voluntarily formed the cooperative housing society and they have to run it as a democratic autonomous non-profit organization in a professional manner in the interest of all its members. If this is done the three components of cooperative housing society law does not interfere in any matter concerning a cooperative housing society. In fact no body has time to waste on matters going on smoothly.
These three co-exist for orderly conduct of the management of cooperative housing societies and are intended to facilitate availability of housing at affordable cost. An individual who is uncomfortable to adjust himself to this situation simple option is to resign the membership and dispose off the share in the capital and property of the cooperative housing society.
But the cooperative housing society itself cannot exit the cooperative housing society law where it continues to exist as dwelling place for its inhabitants.