Meet Us Here asked 2 years ago

sir,IN respect of cooperative societies (restriction on shareholding) it is given that ” no member of a society other than a registered society can hold such portion of the share capital of the society as would exceed 20 % of shares or 1000 in value”
HOW TO INTERPRET OTHER THAN A REGISTERED SOCIETY..Does it mean member of registered society can have shareholding exceeding 20% or does it mean if a registered society is a member of another society its shareholding can exceed 20 % ?

1 Answers
RaviRavi Staff answered 2 years ago

If member is the form of other co-operative society then restrictions are not applicable. for other members there are 2 restrictions — it should not exceed 20% of shareholding / it should not exceed 1,000 face value

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