I have purchased a 120 Sq yard flat in a building having 1 tower and 20 House in a tower in Ahmedabad- GUjarat. The builder has purchased land of two bungalows from an existing Cooperative housing society ( having appx. 35 bunglows).
our builder has registered our building as Pvt ltd company , when we have asked him the reason he said that it is not possible to register a new cooperative from an existing one.
Now, as the income of society is only maintenance income from its 20 flat owners it becomes very difficult to run a Pvt Ltd company as Pvt Ltd co. requires lots of competencies like AUDIT report, Income tax return, ROC filling, Directors report etc.
It is requested to kindly suggest, is there any possibility to close the Pvt Ltd company and form a new Cooperative with the existing 20 flat members?
I C Naik
The requirements like “AUDIT report, Income tax return, ROC filling, Directors report etc.” are no different in case of cooperative society also. In fact both are same. You ought to have any other good reason to think about a cooperative as an organization to take care of building and needs of the members. So try to identify that reason and then ways can be found to convert a Pvt Limited in to a cooperative.