Crystal Consultancy was formed to help our clients for registration of multi state cooperative society. We deal in services related to various categories of multi state cooperative societies whether it is credit, housing, construction, solar, agro, transport, hospital, conversion of credit society into multi state or any other multi state cooperative society. Our proposals are formulated after painstaking research and detailed study of the client’s range of activities. We at Crystal Consultancy have a wide range of professionals to render precise support to our valued clients across the country. These professionals are supported by appropriate office infrastructure and an exhaustive database of support documentation. A cooperative society registered under MSCS Act 2002 is the best option in today's scenario for doing public collections and providing them returns as there is no SEBI, RBI or MCA interference. Since in multi state, you can only issue equity shares, there is one law which says that you cannot declare dividend more than 20%. Moreover, there is no restriction on amount of loan disbursed or collection of public deposits including interest rate or return rate on public collections and loan interest rate from members. A cooperative society is under MSCS Act, 2002 is supposed to transfer 25% of its net profits to reserve fund in every financial year, 10 percent for unforseen losses and 1 percent to cooperative education fund. In this society, quorum section is 1/5th of the total number or ordinary members for conducting any general body meeting and for successful board resolution, at least 2/3rd of the members present should vote in favour. For general body meeting or annual general body meeting or board meeting, at least 15 days clear notice should be given whereas in case of special general body meeting, at least 7 days notice is given. Quartely, one is supposed to conduct board meeting and general body meeting. After the end of economic year, within six months, annual compliances are needed to be submitted in the department including appointment of statutory auditor, election records, change in management committee details, amendment of bye-laws etc. It directly comes under Department of Agriculture and Cooperation, Ministry of Agriculture and Farmers Welfare. In certain cases, when the ministry of agriculture authorizes the state registrars to inspect the records of the multi state cooperative society, the states can conduct their inspection. There is no penalty on non-filing of annual compliances unlike registrar of companies where the penalty is huge with respect to time delayed. Further, there is no fees paid on authorized share capital unlike stamp duty paid on authorized share capital in case of registration of companies. The major advantageous point which differentiates a multi state cooperative society from state cooperative society is that there is no empanelment of returning officer for elections and chartered accountant for auditing of society from the side of Ministry of Agriculture and Farmers Welfare. This smoothens the work of cooperative societies registered under MSCS Act, 2002 as they can work without much headache and hurdles.
1. Information of 55 members from each state with 2 states minimum. Kindly download this form and fill up their details. Form 1 You can take its separate printouts but please keep the sets of different states separate. Out of these 110 members or more number of members, at least 7 board members are required which can go maximum upto 21. Their names should also be reflected in the membership lists. You can keep more number of states as well but each additional state require a minimum of 55 members from that state. Right now, try to give only one member from same address. No two or more than two members should be there from same address. There should be pin code in each and every address and if you are provindg pan card copies or passport copies or driving license copies, the signatures should match exactly. If possible, try to give pan card copies or driving license or passport copy as well for signature verification. The serial number of members of both the states in the membership should start from 1 to 55. For example, you have provided 60 members from Maharashtra and 65 members from Gujarat. The membership list of Maharashtra should have serial number 1 to 60 and then membership list of Gujarat should have serial number 1 to 65. You may download a demo copy of Demo Form1 and follows this pattern.
2. Proposed name of your multi state cooperative society.
3. Your area of operation : Mention the names of the states where you want to work. As per the new rules and regulations, you will be given license for 2 neighborhood states only whose boundaries touch each other. Later on, you can file amendment to increase more number of states in your existing multi state cooperative society.
Please Note- For the Form1 Form, everything can be computer written except the signatures. The addresses of the members should be complete and meaningful because incomplete address results in rejection. There should be complete address for example - Sajan Kumar, Flat number- 205, Pushpanjali Apartments, Patparganj, Delhi - 110092. Please don't write incomplete address. When you have the above details, you can courier these documents to our office address mentioned in our contact page. If you want any other information, please contact us at email@example.com or 9711105597