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← Draft Bye-laws 2026 / Ch.6: Funds, Share Capital and Charges/#13

Draft

Draft — not yet finally notified. Once officially notified, your society must formally adopt these bye-laws via a resolution passed in its General Body Meeting (GBM) before they replace your existing 2014 bye-laws. This draft has been shared by the Co-operative Department for public consultation — you can submit suggestions via email at coophsgmodelbyelaws@gmail.com before the deadline of 27th August 2026.

Bye-law 13Ch.6 · Funds, Share Capital and Charges

Share Capital

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SocietySeWA serves co-operative housing societies across all of Maharashtra, with primary focus on Navi Mumbai, Mumbai, Pune, Thane, and Raigad districts.

Q: What is the sinking fund percentage for Maharashtra housing societies?

Minimum 0.25% per annum of each flat's construction cost, as certified by the architect at the time of construction. This is prescribed by Rule 106C-11(2) of the Maharashtra Co-operative Societies (Amendment) Rules 2026, effective 18 June 2026.

Q: What is the AGM quorum for a Maharashtra housing society?

Two-third of the total members or 20 members, whichever is less. Per Rule 106C-13(3)(e) of the Maharashtra Co-operative Societies (Amendment) Rules 2026.

Q: How does a Maharashtra housing society recover unpaid dues?

By filing Form Y-6 under section 154B-29 of the Maharashtra Co-operative Societies Act 1960, before the Joint/Deputy/Assistant Registrar of Co-operative Societies, with a court fee of ₹100. The Registrar issues a recovery certificate in Form Y-7, which is enforceable as arrears of land revenue under the Maharashtra Land Revenue Code 1966. No separate execution application is needed. Per Rule 106C-14 of the 2026 Amendment Rules.

Q: What are the registration fees for a Maharashtra housing society?

Under Rule 106C-3(2)(d) of the 2026 Amendment Rules: Tenant co-partnership up to 25 flats: ₹2,500; 26-50 flats: ₹5,000; 51-250 flats: ₹7,500; above 250 flats: ₹10,000. Backward class and Lok Awas Yojana societies: ₹50. Tenant ownership and other housing societies: ₹5,000.

Q: What is the maximum interest rate on defaulted maintenance dues?

The Maharashtra Co-operative Societies (Amendment) Rules 2026 cap interest on defaulted maintenance charges at 12% simple interest per annum (Rule 106C-12). The rate must be fixed by a general body resolution — the managing committee cannot unilaterally set a higher rate.

Existing — carried forward from 2014

Draft TextSelect & copy — link auto-added

(a) The authorised share capital of the Society shall be Rs. ______/- (Rupees __________ only) divided into ______ shares of Rs. 50/- each and the paid up share capital of Rs.______ divided into ______ share of Rs. 50/-

(b) The issued and subscribed share capital of the Society shall consist of shares subscribed by the Members from time to time in accordance with these bye-laws.

(c) The paid-up share capital of the Society shall be the amount actually paid by the Members towards the shares subscribed by them.

(d) Every Member shall subscribe to at least five shares of the Society and shall pay the full value thereof at the time of admission or within such period as may be decided by the Committee.

(e) The share capital of the Society may be increased with the approval of the General Body and in accordance with the provisions of the Act and the Rules.

(f) The liability of the Members shall be limited to the extent of the value of shares subscribed by them.

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12. Raising of Funds

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14. Share Certificate

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