I request clarification on the title of the message and a matter linked to that
1. I am an owner of an apartment out of 80 flats registered under Registrar of Cooperative Societies, Bangalore; The Gross Collection per annum is Rs 22 lacs .The association cannot afford hefty fees to a qualified CA not affordable. Is it possible for the association one of the owners to compile on honorary basis (Free) and another Owner as auditor (free)? The qualified auditor is asking for fee for compiling books as well as audit certify it on his own is this permissible as per ICAI rules
2. Is registering an apartment owners / resident association under Registrar of Cooperative Societies in Bangalore OK ? A study of laws concerning flat owners association in Karnataka reveals that any association not registered under Karnataka Apartment Owners Association Act 1972 is not a legal entity. Is it correct ? If so any audit certification of an association registered under cooperative societies act is valid?
3. Is there any law that tens cannot be part of a residents association ? If so why such rule ?
K Sivakumar
CAclubindia
