We are a Co operative Housing Society in Maharashtra. The Accounts for the year April 2015-March 2016 have been audited in September 2016.
Elections were held on 26th June 2016 to elect a New Managing Committee as per the new rules under the supervision of Sub Registrar. A new managing committee was appointed.
QUERY : WHICH MANAGING COMMITTEE SIGNS THE AUDITED ACCOUNTS AND UNDER WHICH RULE.
I C Naik
Elections were held on 26th June 2016 and new Committee must have taken charge of the management of the affairs of the Society by 10th July 2016. The fact that audit was completed only on 26th September is a violation in itself as the Audited accounts and audit report was required to be displayed on the Notice Board at least before 15 days of the date of AGM last date of which is September 30, 2016. The Accounts will have to be signed by the New Committee but outgoing committee members have to be prepared to be ready to face at least 5 year disqualification from joining Committee and may be even fine.