Cosmo Co-operative Societies - The references mention Cosmo Foundations Limited (formerly M/s. Cosmo Fincon Limited) as a registered society under the Tamil Nadu Societies Registration Act, 1975, with 30 members, emphasizing its role in maintaining common areas and amenities Cosmo Towers Owners Association, rep. by its Secretary M. Prasada Rao VS Chennai Metropolitan Water Supply & Sewerage Board rep. by its Managing Director - Madras.
Dispute Resolution under Co-operative Laws - The Co-operative Court handles disputes under the Maharashtra Co-operative Societies Act, 1960, often through summary proceedings such as under Section 91, with courts granting unconditional leave to defend and correcting errors in judgments Madhya Pradesh Industrial Development corporation Ltd VS Mumbal District Central Co-operative Bank Ltd. , Mumbai - Bombay, Madhya Pradesh Industrial Development corporation Ltd. VS Mumbal District Central Co-operative Bank Ltd. , Mumbal - Bombay.
Formation and Registration - Societies like Cosmo Foundations are formed as voluntary organizations registered under the Societies Registration Act to serve specific social objectives, including housing rights and community welfare Cosmo Towers Owners Association, rep. by its Secretary M. Prasada Rao VS Chennai Metropolitan Water Supply & Sewerage Board rep. by its Managing Director - Madras, Campaign for Housing and Tenural Rights (CHATRI), represented by its Secretary, Sri S. Jeevan Kumar S/o. Late S. V. Rama Krishna VS Government of Andhra Pradesh, Represented by its Chief Secretary to Government, Revenue Department, A. P. Secretariat, Hyderabad - Telangana.
Financial Aspects - Cooperative societies, including Cosmo Societies, are entitled to interest income from investments with cooperative banks, as per legal principles governing cooperative societies registered under respective Acts DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1) AHMEDABAD AAYKAR BHAWAN VEJALPUR vs SABARKANTHA DISTRICT CO-OPERATIVE MILK PRODUCERS UNION LIMITED MILK PRODUCERS UNION LIMITED - Income Tax Appellate Tribunal.
Judicial and Dispute Mechanisms - Societies demand effective judiciary systems for dispute resolution; courts and tribunals provide independent adjudication, with references to the importance of proper legal procedures in resolving disputes involving societies MAX INDIA LIMITED VS GENERAL BINDING CORPORATION - Delhi.
Conflicts of Interest and Governance - Cases highlight the importance of managing conflicts of interest within cooperative societies and their affiliated entities, as seen in board nominations and governance issues AIDQUA Holdings (Mauritius) Inc. VS Tamil Nadu Water Investment Company - Madras.
Analysis and Conclusion:
Cosmo Co-operative Societies, exemplified by entities like Cosmo Foundations Limited, are registered societies under respective state laws (e.g., Tamil Nadu Societies Registration Act). They function to serve community interests, manage common amenities, and engage in financial activities. Disputes involving such societies are primarily addressed through specialized courts like the Co-operative Court under the Maharashtra Act, which employs summary procedures for efficiency. Effective governance, conflict management, and judicial mechanisms are crucial for the smooth functioning and resolution of disputes within these societies.
Co-operative Court - Dispute under Section 91 of the Maharashtra Co-operative Societies Act, 1960 - Summary procedure for deciding ... The Co-operative Court granted unconditional leave to defend, which was partly allowed by the Maharashtra State Co-operative Appellate ... Finding of the Court: The Co-operative Court's reasoning was summarized, and the Revision Court corrected errors related ... The said dispute under section 91 has been Instituted by the Bank as a summary proceeding....
Co-operative Court - Maharashtra Co-operative Societies Act, 1960 - Section 91, Section 94(4), Rule 77-F - The court discussed ... Fact of the Case: The dispute arose under Section 91 of the Maharashtra Co-operative Societies Act, 1960 for the recovery ... The Co-operative Court granted unconditional leave to defend, which was partly allowed by the Maharashtra State Co-operative Appellate ... The said dispute under section 91 has been Instituted by the Bank as a sum....
Section 12 of the Act mandates the formation of an association or society which shall be registered either under the Tamil Nadu Co-operative Societies Act, 1983 or under the Tamil Nadu Societies Registration Act, 1975 with an object to maintain all common areas and facilities and to provide such amenities ... Nair Fincon Limited, now called as M/s.Cosmo Foundations Limited, represented by its Director, the third respondent herein. The Association is having 30 members registered under the Tamil Nadu Societies#HL....
, 12, 21, 27) ... ... (B) Deductions - The principle that cooperative societies ... bank continues to be a co-operative society registered under the Co- operative Societies Act, 1912 (2 of 1912), or under any other law for the time being in force in any State for the registration of co-operative societies. ... Therefore, the interest income derived by a co-operative society from its investments held with a co-operative bank would be entitled for cl....
All civil societies demand a proper, effective and independent judicial system to resolve the disputes that may arise. Resolution of disputes by Municipal Courts is, therefore, prevalent in all countries and independence of judiciary is endeavoured in democratic set ups. ... He also submitted that since the interim injunction was operative during the pendency of the said application, same be revived in the meantime as certain steps may be taken by the respondent so as to make the relief sought by the appellant in the said application, infructuous. ... It ....
But the interests of the Co-operative Society demanded that the shares were procured at the lowest price. ... In Scottish, the Directors nominated by the Co-operative Society, to be on the Board of a Textile Company, faced a situation where there was a conflict of interest between the Co-operative Society that nominated them and the Textile Company. ... He also relied upon the decision of the Supreme Court in Cosmo Steels Pvt. Ltd vs. ... Therefore, 3 entities namely, (1) TACID, (2) Tirupur Exporters Association (which i....
(II), (IV) of the Cosmopolitan sports and Cultural Association having office Cosmo
(d) In the case of Co-operative Societies/Societies registered under the Societies Registration Act similar details as in the case of limited company may be furnished. ... According to the petitioners, petitioner No.1 is a voluntary organization registered under the Societies Registration Act and is engaged in campaigning and organizing people’s struggle for housing rights and working among the slum dwellers of Hyderabad and Ranga Reddy Districts for the last several years ... Cosmo F....
(d) In the case of Co-operative Societies/Societies registered under the Societies Registration Act similar details as in the case of limited company may be furnished. ... Kerala Ayurvedic Co- operative Society Ltd. and Others6. 1 (1979) 3 SCC 489 2 AIR 1980 SC 1992 3 (1996) 5 SCC 510 4 3 and Sri.T.Harish Rao, v. the Government Of Andhra Pradesh14. 6. Submissions of learned counsel for respondent Nos.6, 7, 12, 18 and 20: 6.1.
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