Minutes of AGM - 2008

Minutes of 3rd Annual General Body Meeting

 

Held on 27th July 2008 at 10:30 am in Kunal Icon Shopping Complex, 1st floor

 

1.   PREAMBLE

              Those Present:                              Mr Sardeshpande                                           Chairman

                                                                      Mr Joseph Mathew                                          Secretary

                                                                      Mr Sanjay Agarwal                                          Treasurer

 

                                                                      6 Other Committee members

                                                                      Members of the Housing Society numbering 114

                                                                     

              Apologies:                                          The Auditor (Mrs. K B Bidgar)

                                                                           The Registrar (Mrs. Padyal)              

 

2.   Chairman’s speech

The Chairman welcomed all members and thanked them for their support. Major Das was thanked for his help in anchoring the Committee.

 

3.   Secretary’s speech

The secretary set the ground rules for the meeting, discussed accomplishments in the last six months as well as future course of action.

 

4.   MINUTES OF PREVIOUS MEETING

The minutes of the previous Special General Body Meeting held on 20th January 2008, with 14 resolutions were read.             

 

5.   RESOLUTIONS

All the 10 Resolutions on the meeting Agenda were discussed starting with Resolution No 7 and all the 10 Resolutions were passed by majority vote and accepted “as is”. The details are as follows:-

 

S.No

Resolution

Yes

No

1.

Maintenance charges & Sinking + Repair fund to be collected together

94

15

2.

Late payments to attract penalty of Rs 100/-

109

1

3.

Budget of 4 lacs per month for society expenditure

105

3

4.

Maintenance charges to be paid quarterly

104

3

5.

C&D phases to pay towards common amenities

108

3

6.

Rs. 3 lacs for creating additional sump

107

2

7.

Accounts till 31-Mar-2008 audited and adopted

108

2

8.

Any legal suits against MCs from society resident to be taken by Society MC

100

1

9.

Mrs. K B Bidgar is appointed as Auditor for Society

108

7

10.

Society to take care of building seepage & cracks

105

3

 

 

6.   Resolution 7 (Acceptance of Audited Accounts) :-

RESOLVED THAT the books of Accounts uptil 31st Mar, 2008 as audited, be and is hereby formally adopted

 

 

6.1 Mr Ashok Kulkarni from A3 sought to know why there was no amount under the House Keeping head in the accounting for FY 05-06

                         Action Item – The Treasurer, Sanjay Agrawal to respond within 7 days.

 6.2 Col. Bhosale enquired the reasons as to why the society was only awarded B class by Auditor. The Treasurer Sanjay Agrawal and Mr Ram Kumar explained that consistent Auditing every year would yield A class and that the Committee would work towards that goal for the coming year.

6.3 The Treasurer pointed out dues totalling around 5.8 lakhs from members, exhorted members to pay and warned of legal action.

6.4 The Treasurer clarified that the defaulter’s list with 152 members has already been put up.

6.5 The Treasurer pointed out that a lot of members are not reachable for intimation on their outstanding dues.

 

    Action Item – The Treasurer has sought one month of focused attention towards locating such people and also help from members on the same.

 

6.6 Mr Satyesh Banavali from A4 requested for a section under Accounts under the head “Administrator expenses”.

6.7 Mr Satyesh Banavali from A4 questioned whether the Committee had found any misappropriation of funds by the previous Committee. The Treasurer stated that as per the Auditor’s report based on the records made available to him, there did not seem to be any misappropriation though it may be possible that a few thousand Rupees may not have been accounted for due to some of the old records being untraceable.

6.8 Mr Giri sought to know if the 40 lakhs rupees mentioned under Sundry creditors included B phase members and the Treasurer answered in the affirmative

6.9 The Treasurer mentioned that around Rs 18,000/- was to be retrieved from the previous auditor Mr Maitree and this amount is reflected in the Assets Loans and Advances section. This was in response to clarification sought by Mr Giri on the Assets Loans and Advances section.

6.10 Mr. Sandeep S from A2 building sought to know the financial feasibility of the Kunal Icon Bus. The Treasurer clarified that tax was a major expense towards the bus, that the bus expense accounting was “accrual” based and that he would publish the bus income/expenditure sheet within a week’s time.

 

  Action Item – The Treasurer to publish the Bus income/expenditure sheet within one week.

 

7.   Resolution 1 (Maintenance Charges) :-

 

RESOLVED THAT society maintenance charges + sinking fund will be collected together  w.e.f. 1st Oct, 08 with following details :

 

a)              1 BHK flats : Rs. 900 + 250 = 1150

b)              2 BHK flats : Rs. 900 + 350 = 1250

c)               3 BHK flats : Rs. 900 + 500 = 1400

d)              Row Houses : Rs.800 + 950 = 1750

 

As per the suggestion made by the members in SGM we have arrived at common maintenance charge irrespective of the flat size. Only Row house gets a reduction because of the Lift expenses.

 

The above fixed collection will enable Rs 4 lacs per month. Rs. 24 lacs per annum will be collected as sinking fund and this will only be utilized with the permission of Registrar if need occurs. Non-occupied and rented flats will need to pay 10% extra on maintenance charges only. Minimum balance Rs. 5000 to be maintained.

 

7.1  The Treasurer suggested that the new Maintenance and Sinking fund + Repair charges together will be collected from 1st Oct, 2008 which was accepted by the majority of members with the agreement that the Charges would be reviewed annually.

7.2 The cap on Sinking fund was fixed at Rupees 1 Crore.

7.3 Members suggested that the Maintenance Receipt show the two heads separately.

             

Action Item – The Treasurer to study the suggestion above and decision by 1st October 08.

 

7.4                     Mr Iyer from Row House 29 sought a time frame for all the painting work to be undertaken and it was answered that it will be studied based on the severity and will be taken care and approx two years time was mentioned.

7.5                     No discounts to be offered on lump sum payment of monthly maintenance charges.

 

8.   Resolution 2 (Late Payment Charges) :-

 

RESOLVED THAT late payment by members will attract penalty Rs. 100 per month. If dues are so high that Rs.100 / month is less than interest @18% per annum, then 18% / annum interest will be charged, rounded up to next Rs.100/-

 

The Resolution was discussed and no objections were raised.

 

 

9.   Resolution 3 (Monthly Budget of Rs 4 lakhs) :-

 

RESOLVED THAT budget of Rs. 400000/- per month expenditure as per mentioned details is approved and Managing Committee is authorized to perform all society related functions within the approved Budget.

 

The Resolution was discussed and no objections were raised.

 

10. Resolution 4 (Maintenance Charges payment on Quarterly basis) :-

 

RESOLVED THAT maintenance charges be paid on Quarterly basis. Due date for July to Sep is 15th July, Oct to Dec is 15th Oct.......

 

The Resolution was discussed and no objections were raised.

 

11. Resolution 5 (C & D phase dues) :-

 

RESOLVED THAT C phase / D phase members / tenants should pay their dues towards common amenities expenditure by 14th Aug, 08 else Management Committee is authorized to take whatever action deemed necessary by the Committee.

 

The Resolution was discussed and no objections were raised.

 

12. Resolution 6 (New Water tank budget of upto 3 Lakhs) :-

 

RESOLVED THAT Management committee be and is hereby authorized to spend up to a maximum of Rs. 3 lacs for creating one more tank for water storage behind A2 and A3 building. 

 

The Resolution was discussed and no objections were raised. A suggestion was given to study the feasibility of directing the water from that tank to the Row Houses directly. Also there was a suggestion to get the Builder to pay for getting the water pipe problems fixed.

 

Action Item – The Management Committee to follow up with the Builder on the payment for getting the existing water pipe problems fixed.

 

13. Resolution 8 (Legal suits on members of Management committee) :-

 

RESOLVED THAT if there are individuals who files legal case regarding Kunal ICON Co-Op Hsg. Soc. matters, against any of the members who served/serving as Managing Committee member, following actions will be taken: (a) The society shall bear all related expenses towards the legal, for the committee member and later if committee member is found guilty on the allegation, the amount spent will be recovered from the committee member and necessary action will be taken against him/her. (b) If an allegation turns out to be false, such member who filed the case shall bear all expenses and he/she will also be expelled from the society. This resolution is effective from 27th July, 2008.

 

The Management Committee clarified that the Legal suits being referred to, are those pertaining to society matters and not personal matters. There was a suggestion from some members to change the resolution to have it ‘retrospective’. 25 members out of the 123 who voted sought that the resolution be ‘retrospective’. Hence on the basis of a simple majority of votes this Resolution be accepted “as is” i.e. with effect from the date of the AGM which is 27th July, 08 and not with retrospective effect.

 

14. Resolution 9 (Appointment of Mrs Bidgar as Auditor for the Society) :-

 

RESOLVED THAT Mrs. K B Bidgar be and is herby appointed as Auditor for the society for 2008-09 and will continue to hold this position until replaced by any other Auditor.

 

The Resolution was discussed and no objections were raised.

 

15. Resolution 10 (Society to take care of Seepage due to external cracks only) :-

 

RESOLVED THAT Society will only take care of the seepages problems caused due to cracks in the external walls of the building. Any internal leakages from the floor should be handled by the respective flat owner.

 

The Resolution was discussed and no objections were raised.

 

16. General Discussion Points :-

16.1 The Secretary has asked all the Members who have let out their tenements to seek an NOC from the society. A comprehensive policy on tenants would be framed for the Society.

16.2  Actual expenses would be recovered from the Members in case of problems such as taps left open etc, the tenement being locked and the resident not traceable.

16.3 The Society will be forced to disconnect Cable/Telecom connections    where there are cables/wires found to be hanging instead of being passed through the ducts.

16.4 Ganesh Telecom to be charged for DG supply from the Society.

16.5 The Society Bus to be allowed for long distance as well as short distances as far as it is within the permit limits.

16.6 As per suggestion of members, the Gym is to be improved by the Society.

16.7 Members have been asked to volunteer for Society work in order to improve the functioning of the society and reduce the burden of managing such a huge society as ours.

16.8 Mr Ratanpura suggested a legal advisor to be appointed for any legal issues related to society matter.

 

 The meeting terminated with vote of thanks to the chair