Crystal Consultancy was formed to help our clients for registration of multi state cooperative society. We deal in services related to various categories of multi state cooperative societies whether it is credit, housing, construction, solar, agro, transport, hospital, conversion of credit society into multi state or any other multi state cooperative society. Our proposals are formulated after painstaking research and detailed study of the client’s range of activities. We at Crystal Consultancy have a wide range of professionals to render precise support to our valued clients across the country. These professionals are supported by appropriate office infrastructure and an exhaustive database of support documentation. A cooperative society registered under MSCS Act 2002 is the best option in today's scenario for doing public collections and providing them returns as there is no SEBI, RBI or MCA interference. Since in multi state, you can only issue equity shares, there is one law which says that you cannot declare dividend more than 20%. Moreover, there is no restriction on amount of loan disbursed or collection of public deposits including interest rate or return rate on public collections and loan interest rate from members. A cooperative society is under MSCS Act, 2002 is supposed to transfer 25% of its net profits to reserve fund in every financial year, 10 percent for unforeseen losses and 1 percent to cooperative education fund. In this society, quorum section is 1/5th of the total number or ordinary members for conducting any general body meeting and for successful board resolution, at least 2/3rd of the members present should vote in favour. For general body meeting or annual general body meeting or board meeting, at least 15 days clear notice should be given whereas in case of special general body meeting, at least 7 days notice is given. Quarterly, one is supposed to conduct board meeting and general body meeting. For board meeting, we have to give at least 15 days notice just like annual general body meeting or any general body meeting. After the end of economic year, within six months, annual compliances are needed to be submitted in the department including appointment of statutory auditor, election records, change in management committee details, amendment of bye-laws etc. Further after the end of financial year, annual general body meeting it conducted in which all sorts of major agendas like appointment of statutory auditor, discussion of annual activities, audit report and any important agenda necessary for the smooth functioning of the society is discussed like admission of new members in board or expulsion of board members etc. Right now, the ministry has made a rule that for opening of branches, you are supposed to take approval from central registrar. The multi state cooperative society directly comes under Department of Agriculture and Cooperation, Ministry of Agriculture and Farmers Welfare. In certain cases, when the ministry of agriculture authorizes the state registrars to inspect the records of the multi state cooperative society, the states can conduct their inspection. There is no penalty on non-filing of annual compliances unlike registrar of companies where the penalty is huge with respect to time delayed. Further, there is no fees paid on authorized share capital unlike stamp duty paid on authorized share capital in case of registration of companies. The major advantageous point which differentiates a multi state cooperative society from state cooperative society is that there is no empanelment of returning officer for elections and chartered accountant for auditing of society from the side of Ministry of Agriculture and Farmers Welfare. This smoothens the work of cooperative societies registered under MSCS Act, 2002 as they can work without much headache and hurdles.

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