- By Editor
- 04th November, 2018
What exactly is an Annual General Meeting (AGM)?
An Annual General Meeting (AGM) is a yearly event which is necessary according to the society by-laws for each housing society/apartment complex. These are led to examine real issues, achieve an agreement and find the best possible solution. According to the law, the AGM ought to be hung at the very latest by the 30th of September. However, according to Section 75 (1) of the society by-laws, this date can be stretched out by 3 months after acquiring the permission from the Registrar of Societies. On the off chance that the registrar is not persuaded, he may name an officer to lead the meeting at the expense of the housing society.
Most regular talks in an AGM contain the minutes of the past meeting, financial issues, society maintenance issues, steps taken by the management board of trustees for the improvement of living conditions, and so on. An arrangement of another managing council, auditor, and so on additionally happens in an AGM.
Checklist For The Annual General Meeting :
- Before the managing committee conducts the AGM, there are a bundle of things that should be canvassed with a specific end goal to guarantee the gathering goes easily.
- Have a gathering with the internal committee members and conclude the date and the aim of the AGM.
- The President, Secretary, and the Treasurer should be available as they are the key individuals.
- Choose the venue of the gathering. It is, more often than not, held inside the premises of the housing society.
- A notice must be sent to all individuals from the housing society somewhere around 21 days ahead of time.
- The president, secretary, and treasurer need to sign on the examined accounts.
- Select auditors for the following year and their compensation.
- Set up the yearly report, which features the work attempted by the committee in the earlier year and the plans for the following year.
- Flow the yearly report to all individuals from the housing society.
- Get the minutes of the past years AGM and group a rundown of all goals passed that year.
- Additionally, prepare committee members to answer inquiries from the occupants.
What are the activities in Annual General Meeting?
There are a few activities that happen in an AGM. Here, they are in the order in which they ought to be pursued:
- Participation of the individuals with their signatures against their flat number.
- Once the majority is built up, the President respects all and the gathering is called to arrange the gathering.
- Minutes of the past years AGM are perused, endorsed and confirmed.
- Money related report for the last budgetary year is acknowledged and affirmed.
- Flats sold/transferred in the housing society, which are documented in the Annual report, are affirmed.
- Confirmation of new members is sanctioned.
- Ways and intends to handle regular defaulters are examined.
- In the event that there are any individuals from the housing society who are non-cooperative, how to handle them is additionally examined.
- Talk about the arrangement of auditors of the next financial year and their remuneration.
- Talk about issues identified with regular zones like parking spots, play areas, lifts, and so forth.
- Talk about salary hikes of staff like security, support staff, and so forth.
- Choose the new managing committee, if pertinent.
- Some other issue might be talked about with the consent of the President.
- A Vote of Thanks.