Short Answer

The managing committee report is typically approved by members during the Annual General Meeting (AGM) of the cooperative society.

Detailed Explanation

Section 73 of the Gujarat Cooperative Societies Act, 1961 governs the approval of the managing committee report. This section mandates that the managing committee shall prepare an annual report containing the activities and financial position of the society. During the AGM, this report is presented to the members for approval. The members have the authority to scrutinize the report, ask questions, and ultimately approve it.

Rule 85 of the Gujarat Cooperative Societies Rules, 1965 provides further details on the process of approving the managing committee report. It states that the report shall be circulated to all members along with the notice of the AGM. The members can review the report beforehand and come prepared to discuss and approve it during the meeting.

In practice, the managing committee report is a crucial document that reflects the performance and transparency of the cooperative society. Members play a vital role in ensuring accountability and good governance by carefully reviewing and approving this report. Real-world scenarios may include members raising concerns about financial discrepancies, operational inefficiencies, or non-compliance with legal requirements based on the information presented in the report.

One practical example could be a scenario where a member notices discrepancies in the financial statements of the society during the AGM while reviewing the managing committee report. The member raises these concerns, leading to a detailed discussion and possibly further investigation into the financial records.

Another example could involve members questioning the utilization of funds mentioned in the report, seeking clarification from the managing committee regarding specific expenses or investments made by the society.

Overall, the approval of the managing committee report by members is a crucial step in ensuring transparency, accountability, and effective governance within cooperative societies.

References

• Section 73 of the Gujarat Cooperative Societies Act, 1961: Official PDF

• Rule 85 of the Gujarat Cooperative Societies Rules, 1965: Official PDF