XX. REGARDING REDEVELOPMENT OF BUILDING THE CO-OPERATIVE HOUSING
SOCIETIES: (Bye Law No 175)
Bye Law No 175. Redevelopment of the Property/Building of the Society
Bye Law No 175(a) Redevelopment strictly as per Directives dated 3rd January, 2009
Redevelopments of the Property / Building of the Society including vacant spaces shall be done strictly in accordance and confirmation with the Directions issued by the Government of Maharashtra vide Government Resolution no. CHS 2007/M.No. 554/14-S dated 03 January 2009, under section 79{A} of the Maharashtra Cooperative Societies Act 1960 (as amended from time to time).
Bye Law No 175(b) If the Development Agreement is not executed with the developer
If the development Agreement is not executed with the developer in that case, the Society after cancelling the same resolution, the Society may appoint a new developer from the short list of approved developer, and if it is not possible, fresh procedure can be initiated.
The Representative of the Registrar must be invited for the aforesaid General Body Meeting and his attendance is compulsory.
Bye Law No 175(c) Increasing Authorised Share Capital if member are increased after Redevelopment
In case of increase of membership on account of redevelopment the Society shall increase the Authorised Share Capital and amend the bye laws accordingly and the list of new members be submitted to the Registrar for appropriate approvals