Judgment passed by the Hon’ble High Court, Mumbai on the issue of Bond M-20

Judgment passed by the Hon’ble High Court, Mumbai on the issue of Bond M-20 is reproduced below

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE SIDE: WRIT PETITION NO.7774 OF 2007

Raj Residency I Co-Op. Housing Society limited: Petitioner

Versus
Divisional Joint Registrar, Co-op. Society and others: Respondent.

Ms. Divya Trivedi for the petitioner

Mr. A. C. Tamhane for Respondent no.2

Mr. Shrihari Aney Sr. advocate I/b Mr. Amit Potnis for respondents 3 and 4

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Indemnity Bond in Form M-20 under the MCS Act 1960 – now should be filed within 45 days

It’s a Positive amendment & Good News for the Managing Committee of Housing societies.

The M-20 Bond which was earlier required to be executed within 15 days by the members of the Managing Committee of the Co-operative Housing Societies has be amended and now it is required to be filed within 45 days from the date of their assuming the office under the Maharashtra Co-operative Societies Act 1960 w.e.f 14^th January 2011 says Adv. R. P. Rathod.

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A recent Judgment passed in 2009 by Hon’ble High Court, Mumbai on the issue of Bond M-20

IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
WRIT PETITION NO.1671 OF 2009

Mr. Shashikant Jesrani & Ors...Petitioners
vs.
Assistant Registrar & Ors...Respondents

Mr.Satyajeet Mirajkar i/b.Gabriel Pillai for the Petitioners
Mr.S.N.Patil, A.G.P. for the Respondents

CORAM: - V.C.DAGA, J.
DATE: 27TH JANUARY, 2009

P.C

1.                 Heard learned Counsel for Petitioner. This Petition is directed against the order dated 13th January, 2009 passed by the Divisional Joint Registrar, Co-operative Societies, Mumbai Division, Mumbai.

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Bandra Building Resident Unearth Rs. 100 Crore Fraud in his Society

Adv. R. P. Rathod emphasis that it is very important for every Managing Committee member to file the mandatory M-20 Bond as stipulated in the Maharashtra Co-operative Societies Act 1960, failing which he shall deemed to have vacated his office as a member of the Managing Committee.

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