PROCEEDINGS OF THE SPECIAL GENERAL BODY MEETING OF DHEERAJ DREAMS

BLDG No.3 CO-OPERATIVE HOUSING SOCIETY LTD HELD ON 10/03/2024 (SUNDAY) AT

11.00 AM. AT DCHSA ACTIVITY HALL, LBS MARG, BHANDUP (WEST), MUMBAI-400078

In terms of SGM Notice dated 1 st March 2024, the meeting was scheduled at 10.30AM.Since at 11.00AM the
quorum was not complete. The meeting was adjourned by the President till 11.30AM.Members assembled
again at 11.30AM.President took the chair and meeting started.Total of 90 members were present.
A list of society members who attended the SGM is annexed as ANNEXURE - A
Following members of Managing Committee were present
Mr.Dayanand B.Pawar-Hon Chairman
Mr. Sunil Manjrekar-Hon.Vice Chairman
Mr.Pradeep V.Mishra, Hon.Secretary
Mr Ratnadeep Jadhav, Hon.Joint Secretary
Mr.Sudheer Suthar, Hon.Treasurer
Mrs.Shobha Ugale, Hon Joint Treasurer
Mr.Vishal Mulani, Hon.Committee Member
Mr.Joydeep Ghosh, Hon.Committee Member
Mrs.Sumana V.Amin, Hon.Committee Member
Mr.Vinod Gehrilal, Hon.Committee Member
Mr.Milind Prabhu, Hon.Committee Member
Mr.Jagannath Palve, Hon.Committee Member
Mr.Raju Singha, Hon.Committee Member
Mr.Sunilkumar Murthy, Hon.Committee Member

At the outset, President welcomed all the members of society especially those who have recently become
members of the society.
Shri Dayanand B Pawar, the Chairman requested the Secretary Shri Pradeep Mishra to read the notice of the
meeting. As directed by the Chairman, the Secretary read the notice dated 01/03/2024.Thereafter, Agenda
items were taken up.
Agenda Point No.1
To consider adoption of new Model byelaws of 2014 introduced by the Commissioner for Cooperation
and Registrar, C.S., Maharashtra State, Pune in place of the existing Model byelaws of the society.
Secretary Mr. Pradeep Mishra briefed the meeting that the adoption of new Bye-laws is necessitated due to
97th Constitutional Amendment in the year, 2012. It is to be adopted compulsorily by all the Co-operative
Societies.
To switch over to the revised Model bye-laws as the present bye-laws of the society are not adequate to regulate
the entire working of the Society. Many societies have adopted the new Model Bye-Laws. He further informed
the members that Deputy Registrar of Societies had also informing the societies that it was advisable to adopt
the New Model Bye-Laws.
The following queries were raised, clarifications sought and suggestions made by the following members on
the submission made by the secretary.
Mr. Aniket Khanzode and Mr. Pramod Khandekar asked to know whether there were any changes that led to
the adoption of the new model bylaws.

1|Page
Secretary said the Byelaws of the society amended in 2013, since then many changes have taken place in the
society Act/Rules thereunder.

Shri Pramod Khandekar raised the question whether the committee has prepared any procedure regarding
adoption of bylaws and share certificate insurance.

While replying to Mr. Pramod Khandekar, Secretary Shri Pradeep Mishra read out all the procedures

Mr. Rajesh Rane raised the question that adoption of the bylaws has been done earlier. Therefore, it should be
confirmed before proceeding, so that there is no need to adopt a new. Mr. Rajesh Rane further stated that to
avoid duplication and ambiguity and if a copy of the pre-adopted bylaws is not available with the society or is
misplaced, an affidavit stating the fact, how old Bye-laws book adopted last time was lost.

Answering to this, Secretary Mr. Pradeep Mishra informed that, it has been verified whether the bylaws have
been adopted before this and the copy of the adopted bylaws is not available in the office record. He further
informed that when it was decided to change the share certificate, as the adoption of the new bylaws was in
order.

Mr. Vaibhav Nangre suggested that the committee should clarify the effect of the new bylaws and the new
share certificate on the members.

The Secretary further informed the members that if the New Model Bye-Laws are adopted, the society could
take advantage of revised rules. The New Model Bye-Laws is self-explanatory and many societies had also
adopted the same. After discussion following resolution was passed.
RESOLUTION NO.:1
“RESOLVED THAT that Society should adopt the New Model Bye-laws of 2014.”
“FURTHER RESOLVED THAT complete the formalities with regard to adoption of new Model Bye-
Laws.”
Proposed By Mr.Mark Quadros
Seconded By Mr. Rajesh Rane
Carried Unanimously /By Majority.
Agenda Point No.2
To increase the paid up share capital Rs.250/- to Rs.500/- for individual & for body corporate from
Rs.500/- to Rs.1000/-

Agenda Point No.3

To collect additional share money from Rs.250/- to Rs.500/ and Rs.500/- to Rs.1000/
On the briefing on Agenda No.2 & 3, Secretary Mr. Pradeep Mishra informed the members present in the
meeting that after the amendment to the byelaws in 2014, in cooperative housing societies in Maharashtra,
each member has to pay for 10 shares @ 50/-each which is the limit of his share in the liability of the Society.

The following queries were raised, clarifications sought and suggestions made by the following members on
the submission made by the secretary.

2|Page
Mr. Padmanabhan asked the question, is it mandatory to change the share capital?

Secretary replied that after the amendment to the byelaws in 2014, in cooperative housing societies in
Maharashtra, each member has to pay for 10 shares, which is the limit of his share in the liability of the Society.
After discussion it was decided that the society should increase paid up capital and following resolution passed.
RESOLUTION NO.:2
“RESOLVED THAT as per the provisions in New Model Bye-laws society should increase paid up capital
for individual Rs.250/- to Rs.500/- & for body corporate from Rs.500/-toRs.1000/”
Proposed By Mr. Padmanabhan
Seconded By Mr. Kiran Patil
Carried Unanimously /By Majority
Agenda Point No.4
To cancel the old share certificate of Rs.250/- and to issue new share certificate of Rs.500/ & Rs.1000/-
as per requirement.

Secretary informed the members present in meeting that Share Certificate is one of the most important
documents issued to the members of the Co-operative housing society. As per Model Bye-laws 9(a): A Share
Certificate, prescribed in bye-laws, must mentioned authorized share capital of the society approved by the
registrar of Co-op Societies at the time of registering the Society.

Secretary further stated that in our case at the time issuing share certificate first time to our members after
society formation, the share certificate were printed wrongly by mentioning paid up share capital value in place
of authorized share capital value. Moreover, after the amendment to the byelaws in 2014, in cooperative
housing societies in Maharashtra, each member has to pay for 10 shares, which is the limit of his share in the
liability of the Society.From the point of view adoption of new byelaws and to correct the mistake happened
in old certificate and to avoid misuse, we need to issue new share certificate in lieu of old share certificate.

The following queries were raised, clarifications sought and suggestions made by the following members on
the submission made by the secretary.
Mr. Pramod Khandekar raised the issue that if a member has hypothecated the share certificate with the bank,
what should be done?

On the reply Secretary said that for retrieval of share certificate a letter along with certified copy of the meeting
resolution will be given to the bank. On that basis bank will give the old share certificate to the member or will
send it to the society through their representatives. Afterward new share certificate will be handed over to the
bank

Mr. Pramod Khandekar pointed out that Central Hospital which is a major defaulter of the society will be given
new share certificate? In such a case, they should not be given new share certificates unless the Central Hospital
pays the dues. If necessary, legal advice should be taken in this regard.

3|Page
Answering on this, Secretary Shri Pradeep Mishra clarified that whether it is a general member or a central
hospital. If there is a defaulter. Same rules will apply to all.

Shri Pramod Khandekar suggested that a new share certificate should be issued for the additional share without
canceling the old share certificate.
Replying on this, Treasurer Shri. Sudhir Suthar explained that two share certificates aren’t kept, because it can
be misused, it will be more appropriate to cancel the old share certificate and issue a fresh new share certificate
in its place.

Mr. Rajesh Rane suggested that it is important to reflect all the details of the old share certificate on the new
share certificate. Therefore, the old share certificate should be canceled and kept in the record with cancellation
stamp.

Mrs. Anita Shah expressed her views in this regards that I am a Senior Citizen member. I am of the opinion
that my heirs should not face any problems due to the new share certificate after me. Such problems may also
occur to others. This may cause problems in the sale and purchase of flats. Therefore, my suggestion is that
while giving the new share certificate, all the transfer entries should be noted on the back side. Old share
certificates should be canceled and kept in the record file of the members.

Mr. Mark Quodros suggested that two share certificates cannot be kept. The new share certificate should be
printed and all the previous entries should be made on the reverse side so that it is known who has transferred
the flat to whom multiple times.

Mr. Ketan Palan suggested that after giving the old original share certificate to the society, the new share
certificate should be given as well as the certified xerox copy of the old share certificate should be given to the
members for record.

The Secretary opined, it is advisable to issue a consolidated single share certificate to members, by taking back
the old original certificate – to avoid its misuse by members. In this case the share certificate shall reflect 2
parts – one, information about the original share certificate, old distinctive numbers etc., and two, the new
additional 5 shares issued to him with the new series of distinctive numbers for these 5 shares.MC assure the
SGM that new share certificate will be issued only after follows all guidelines.

After discussion it was decided that the society should increase paid up capital and following resolution
passed.

RESOLUTION NO: 3
“RESOLVED THAT to issue a consolidated single share certificate to members, by taking back the old
original certificate – to avoid its misuse by members. In this case the share certificate shall reflect 2 parts –
one, information about the original share certificate, old distinctive numbers etc., and two, the new additional
5 shares issued to him with the new series of distinctive numbers for these 5 shares.”

“This meeting further resolved that for retrieval of share certificate a letter along with certified copy of the
meeting resolution will be given to the bank.”

4|Page
“This meeting further resolved that “after giving the old original share certificate to the society, the new share
certificate should be given as well as the certified xerox copy of the old share certificate should be given to the
members for record.”

“This meeting further resolved that Old share certificates should be canceled and kept in the record file of the
members.”

Proposed By Mr.Mark Qaudros

Seconded By Mr.Ketan Palan
Carried Unanimously /By Majority
Agenda Point No.5
To authorised Chairman, Secretary and one authorised managing committee member to sign and issue
new share certificate.

Secretary Shri. Pradeep Mishra stated that to implement the resolution of this meeting require authorized
signatory to do all related work with regard to the issue new share certificate.

RESOLUTION NO: 4
“RESOLVED THAT the Chairman Shri Dayanand B.Pawar, The Hon. Secretary Shri Pradeep Mishra, and
the Managing Committee member Shri Sudheer Suthar be and are hereby authorized to sign the new share
certificate and other related document thereof.”
Proposed By Mr.Mark Qaudros
Seconded By Mr.Pramod Khandekar
Carried Unanimously /By Majority
The meeting concluded with a Vote of thanks to the Chair.

For Dheeraj Dreams 3 CHS Ltd

( Hon.Secretary )

CONFIRMED AS A TRUE RECORD OF PROCEEDINGS HELD.

Shri. Dayanand B.Pawar

5|Page
Chairman of Meeting.
Place:Mumbai
Date: 10/03/2024

6|Page