Maharashtra: Cabinet clears co-operative societies Act changes

MUMBAI: The state cabinet on Thursday cleared amendments to the Maharashtra Co-Operative Societies Act, giving housing societies some relaxations in the backdrop of the Covid-19 crisis.
One of the amendments allows for the existing management to continue until the new body is elected. The state government has already postponed elections of cooperative societies that have up to 250 members thrice due to the lockdown.
The cabinet also extended the deadline for submission of financial audits to December 31 from July 31.This decision is applicable to all cooperative societies, including bank, sugar and milk, said an official. Further, the state has allowed cooperative societies, including housing societies, to conduct their annual general body meeting by March 31, 2021.