Redevelopment of Society Buildings

174. (a) Redevelopment of the Property/Building of the Society including vacant spaces shall be done strictly in accordance with the Directions issued by the Government of Maharashtra vide Government Resolution no. CHS 2007/M.No.554/14-S dated 03 January 2009, under Section 79(A) of the Maharashtra Cooperative Societies Act 1960 (as amended from time to time). (b) If the Development Agreement is not executed with the developer, the Society after cancelling the same resolution may appoint a new developer from the short list of approved developers, and if it is not possible, fresh procedure can be initiated. The Representative of the Registrar must be invited for the aforesaid General Body Meeting and his attendance is compulsory. (c) In case of increase of membership on account of redevelopment, the Society shall increase the Authorised Share Capital and amend the bye-laws accordingly and the list of new members be submitted to the Registrar for appropriate approvals.