Western India Regional Council of
The Institute of Chartered Accountants of India

(Setup by an Act of Parliament)

August 1, 2019

CA. Ramesh Prabhu, CA. Mukul Varma

(1) A separate Chapter XIII-B in MCS Act, 1960 has been introduced for Co-operative Housing Societies. The CHS chapter contains sections 154B, 154B-1 to 154B-31. The necessary amendments have been passed in last session of Assembly concluded in July, 2019 which is replacing in entirely the Ordinance dated 9th March, 2019.

(2) Co-operative Department has published the revised Co-operative Audit Manual in June, 2019. Now all the audits of the cooperatives societies need to be done as per Revised Audit Manual. This manual provides for 15 types of audit report as against the earlier 35 types of reports.

(3) GR of Govt of Maharashtra: No. Misc. 0918/Pra.Kra.109/13-S dated 3rd July, 2019 issued u/s. 79A of MCS Act, 1960 guiding authorized officers/Administrators to carry out the working within the period of their appointment.

(4) GR of Govt of Maharashtra No. SaGruYo 2018/Pra. Kra. 85/14-S, dated 4th July, 2019 issued u/s. 79A of the MCS Act, 1960 revised directions on Redevelopment of Housing societies mandating 51% consent and creating the website for transparency.

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