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Investment in shares and MFs

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(Querist)
29 August 2007 Whether Co-operative societies(to be specific, the Societies registrered under Karnataka Souharda Sahakari Act,1997) can invest in Shares of companies listed on Recognised stock exchange or Mutual funds?
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Shivanand

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Shivanand (Querist)
29 August 2007 Pl. reply at the earliest.
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Shivanand

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Shivanand (Querist)
29 August 2007 Whether Co-operative societies(to be specific, the Societies registrered under Karnataka Souharda Sahakari Act,1997) can invest in Shares of companies listed on Recognised stock exchange or Mutual funds?
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Kaustuv

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Kaustuv (Expert)
30 August 2007 No they can't invest in these modes vide sec. 18 of Karnataka Souharda Sahakari Act,1997
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Shivanand

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Shivanand (Querist)
02 September 2007 Then, what are the securities mentioned under sec.20 of Indian Trust Act? As per sec.18 of Karnataka Souharda Sahakeri Act,1997, sahakari can invest its excess funds in the securities specified u/s 20 of Indian Trust Act. Whether Shares and Mutual Funds are covered u/s 20 of Indian Trust Act?
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KAAPIL

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KAAPIL (Expert)
31 October 2007 No. Only Government Securities.
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KAAPIL

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KAAPIL (Expert)
18 November 2007 I hope things are clear.
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