Exempting the Cooperative Societies Section 32(1) of TCS Act 1964

Cooperation Department GO 158 dated 23 March 2020. TSC Act, 1964 – Exempting the Cooperative Societies including TSCAB, DCCBs and PACS from provision of Section 32(1) of TCS Act 1964  and 30(2)(vii) of TCS Act 1964 for the year 2019 -2020 – Orders CC& RCS has informed that the MD, TSCAB, Hyderabad has informed that as per section 30(2)(vii) of TCS Act 1964, subject to other provisions of the Act, the General body of the  society shall approve its annual budget of income and expenditure.

Further, as per Section 32 of TCS Act, 1964 the Committee may, at any time, call not less than two general meetings of a Society in cooperative year. The bye-laws of PACS and DCCBs also provide that the Annual Budget of Income and expenditure shall have the approval of respective General bodies.

2.      Managing Director, Telangana State Co-operative Apex Bank Ltd has requested to include the TSCAB from convening 2nd General Body Meeting in the current year 2019-2020 ie., before 31-03-2020 and to authorize the Board of Management of TSCAB to approve the budget from the 1st quarter of 2020-2021.

3.         Due to elections conducted to DCCBs DCMSs and PACSs in the state very recently, they could not convene the 2nd General Body Meeting and the budget for the Cooperative Year 2020-21 is also not approved in all the PACS and DCCBs except Adilabad, Karimnagar and Nizamabad DCCBs.

4.         Government are aware that Covid-19 has become a serious concern and that large    events and mass gatherings can contribute to spread of Covid-19 and     Covid – 19 virus growing, the Telangana Government has decided to shut down all Educational Institutions, Coaching Centers and Summer Camps till 31st March, 2020 and declare to close the other public places such as Cinema Halls, Bars, Pubs, Membership Based Clubs, Gyms, Zoo-parks, Amusement, Parks and Museum for a week. The Government has also decided not to give permissions to public meeting, meetings, Seminars, Workshops, Public Celebrations, Rallies, Exhibitions, trade fares, and cultural events.

  1. The Managing Director, TSCAB, Hyderabad has requested the CC&RCS, Hyderabad to propose to the Government:
    i. To exempt the DCCBs and PACS to convene two General body Meetings in the Coop Year 2019-20.i.e before 31-03-2020 and.

ii. To authorize the Managing Committee of respective DCCBs and PACS to approve the budget for the 1st quarter of 2020-21 to enable them to run their Banks/Societies without any hindrance for want of approval of Annual Budget 2020-21 by their respective General bodies.

6.         The Commissioner for Cooperation & Registrar of Cooperative Societies, Hyderabad has requested the Government to exempt the Cooperative Societies including DCCBs and PACS from the provisions of Section 32(1) of TCS Act 1964 and 30(2)(vii) of TCS Act 1964 for the year 2019-2020, it is not desirable to insist the societies to convene the General Body Meetings before      31-3-2020 where large number of members will gather for said meetings. in view of the  instructions of the Government not to conduct meetings and discourage  Gatherings.

7.         Government after careful examination of the matter, hereby exempt all the Cooperative Societies including TSCAB,  DCCBs and PACS from convening two General Body Meetings during the year 2019-20 and also authorize the Managing Committees to approve 1st quarter budget for the year 2020-2021 by exempting from the  provisions of Section 32(1) of TCS Act 1964  and 30(2)(vii) of TCS Act 1964 for the year 2019-2020  to enable them to function smoothly without any hindrances.  The 1st quarter budget for year 2020-2021 approved by the Managing  Committees shall be ratified by the respective General Bodies before the end of 1st quarter of 2020-21 ie., 30-06-2020.

8.        The Commissioner for Cooperation & Registrar of Cooperative Societies, Hyderabad, shall take further necessary action in the matter accordingly.

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