Can you File case against Co-Operative Society.

Yes Members of Co-Operative Society can file case in the Consumer Forum.

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How to File case against Co-Operative Society.

To file case against Co-Operative Society visit nearest Consumer Forum or call our helpline for professional assistance.

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How to register a Co-Operative Society.

To register a Co-Operative Society visit Tax Vakeel.

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In INDIA various forms of business organizations can be registered, and cooperative society is one such business structure. The main goal of registering Cooperative societies is to support their members in many ways so that they can safeguard the members against exploitation by economically advantaged segments.

In order to operate as a cooperative society in INDIA, the registration is mandatory under the Cooperative Societies Act of 1912. The capital required for their operations is generated by the collective contributions of their members.

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Types of Cooperative Societies

Consumer Cooperative Societies: Consumer cooperative societies are registered with a objective to safeguard the interests of consumers by providing them the products at affordable price by bypassing the middleman and products are purchased directly from manufacture.

Producer Cooperative Societies: Producer cooperative societies are registered with a objective to support small-scale producers by helping them in many ways to increase their profitability and acquire resources necessary for the production of goods and services.

Credit Cooperative Societies: To provide financial assistance to the members, you need to register the Credit Cooperative Society. They offer loans at minimal interest rates and flexible repayment terms to their members. The main objective to protect members from the higher interest rates charged by private money lenders.

Housing Cooperative Societies: The main aim of Housing cooperative societies is to offer affordable housing to the members.

Marketing Cooperative Societies: The function of Marketing cooperative societies are to provide a platform for the small producers to sell their products at reasonable prices by eliminating the middlemen from the distribution chain, thus ensuring producers receive fair profits.

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Characteristics of Cooperative Society

Voluntary Membership: Cooperative societies operate on the principle of voluntary membership, meaning anyone can join or leave the society according to their choice. Members of the society are required to intimate prior to the society by giving the notice to the society before leaving the society.

Inclusive Membership: Cooperative societies embrace an inclusive membership policy by welcoming any individuals of any backgrounds, regardless of caste, creed, or religion.

Legal Registration: To establish as a legally entity, must follow the process of registration with the MCA under the Cooperative Society Act. Once the society is registered, it can buy property in its name.

Limited Liability: Members of a cooperative society enjoy limited liability, where their financial responsibility is limited to the capital they have contributed.

Democratic Governance: Cooperative societies establish by a managing committee having elected members who have the authority to vote and select the President, Secretary, Member, Vice-President etc. This committee is responsible for making any decisions regarding the society's operations.

Social Service Orientation: Cooperative societies are formed with the primary objective of helping and welfare of society. If a cooperative society generates profits, the earnings are distributed among its members in the form of dividends.

State Oversight: To protect the interests of its members, cooperative societies are audited by the state government. The societies must maintain proper accounts, which are subject to audit by an independent auditor.