Madiwal Community Terms of Use
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Bye-Laws of Madiwal Community Foundation Association:
The Registrar of Societies,
Bangalore Urban Dist.,
Bangalore.
Sub: REGISTRATION OF ASSOCIATION.
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Dear Sir,
We desire to form ourselves into a Society as per provision of the Karnataka Societies Registration Act 1960, for the purpose of objectives mentioned in the Memorandum of Association. We enclose herewith the Memorandum of Association, the Rules and Regulations of the Society and the original challan for having paid the prescribed fee. We have in other respects, complied with the requirements of the Act and the Rules made there under.
We request that the Society be registered.
Yours faithfully,
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(President)
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(Vice President) |
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(Secretary)
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(Treasurer)
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(Joint Secretary – 1)
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(Joint Secretary – 2)
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(Joint Secretary – 3)
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(Joint Secretary – 4)
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MADIVAL COMMUNITY FOUNDATION
No.304(TF-4), V2 Sushmitha Enclave, 2nd Main, Ranganathpura, Magadi Road, Bangalore 560079,
Karnataka, India,
MINUTES OF THE GENERAL BODY MEETING HELD ON _____th _________________2018 AT THE REGISTERED OFFICE OF THE ASSOCIATION.
Members Present:
1. President
2. Vice –President
3. Secretary
4. Joint-Secretary
5. Member
6. Member
7. Member
8. Treasurer
The President placed before the board the draft copy of the Memorandum of Association for registration under the Karnataka Societies Registration Act, 1960.
Place: Bengaluru,
Date: ___/___/2018 (Secretary)
MADIVAL COMMUNITY FOUNDATION
No.304(TF-4), V2 Sushmitha Enclave, 2nd Main, Ranganathpura, Magadi Road, Bangalore 560079,
Karnataka, India,
MADIVAL COMMUNITY FOUNDATION
PREAMBLE
In its efforts to promote and sustain an outstanding community, the MADIVAL COMMUNITY FOUNDATION shall be guided by a set of shared values, to which all its members stand committed. These values, expressed as the guiding principles of the community, shall be the touchstone for the byelaws, rules and operating guidelines of the Association.
1. OBJECTS OF THE ASSOCIATION: -
a) The emphasis here is on consideration for others, with members relating to each other in the spirit of mutual support and fellowship. The basis for all key decisions is the greater common good.
b) Members respect the rights of others. They also willingly and voluntarily conform to the byelaws, rules and operating guidelines of the Association.
c) To promote welfare programs among poor sections of society /matrimonial, spiritual and other activities and welfare of the Madival community and other poor sections of society.
d) To conduct seminars, conferences, debates on social awareness programs among the members and General Public.
e) To conduct health camps, eye-checkup and blood donation camps among the members and General Public.
f) To open free reading rooms and library for the benefit of the members and General Public.
g) To promote conduct welfare programs among the members such as extending free education for the children of poor sections of society
h) To establish, maintain and run schools, colleges, social service centres, Industrial Training centre.
i) To establish training centres, and allied education institutions.
j) To run any educational and medical institutions which have the object of helping the deformed/disabled poor and needy children.
k) To help in cash or kind the destitute women, homeless aged men and women, orphaned children and physically challenged persons.
l) To run health care center for orphans, poor and destitute children.
m) To promote research in science and technology and utilize the same for the benefit of the public at large.
n) To carry out programmes for humanitarian relief either independently or in co-operation with other organizations.
o) To establish, cultural, and social institutions, and to organize cultural programs and to promote the same by providing training.
p) To spread for promotion of education and learning in all branches including medical, paramedical.
q) To advance Indian culture and literature, service of this country for the benefit of our nation.
r) To train teachers and workers in ideals and practice of the true spirit of the education and learning.
s) To establish research and training centers for the furtherance of education/learning in its various fields and branches.
t) To undertake propaganda, training and education of the masses either of its own or in co-operation with similar agencies working for the cause of all-round development of the Society.
u) To bring, publish and sell, distribute books, periodicals, leaflets, brochures and papers and also to open and maintain libraries, reading rooms for the promotion of the objects of the association.
v) To function as a non-communal association.
w) To establish centers for employment generation.
x) To acquire and maintain the movables and immovable properties for achieving said objects.
y) To advance any other objects of general public utility.
z) To confer title on eminent personality in the field of science, religious, education, literature, etc.,
aa) To establish the colleges to impart education in the area of higher education in all fields.
bb) To render relief to the less fortunate people, provide relief to the poor, education, medical relief and advancement of any other object of general public utility.
cc) To establish, promote, support, maintain and/or grant aid or other financial assistance to schools, colleges, hostels, libraries, reading rooms, lecture halls, museums and other establishments and institutions for the development of education and diffusion or useful knowledge.
dd) To grant scholarship, stipends, free studentship, prizes, rewards and allowances or other financial assistance to students having meritorious records and/or belonging to the poorer section of the Society for persuading their studies.
ee) To establish, promote, support, maintain, help, run and grant aid and/or other financial assistance to dispensaries, hospitals, old age homes, sanatorium, mobile medical units, ambulances, medical and/or surgical camps and other establishments for giving medical relief to the public.
ff) To establish and maintain hospitals and/or other institutions for the reception and treatment of persons suffering from illness or mental defectiveness or for the reception and treatment of persons during convalescence or of persons requiring medical attention or rehabilitation.
gg) To provide food, medicines, clothing, shelter and/or any other assistance for the poor and/or needy persons and help them either in cash or in kind or otherwise.
hh) To establish, maintain and/or grant aid to homes, orphanages or other establishments for relief of poor and to give help to the poor and destitute people, orphans and widows and otherwise provide for them.
ii) To establish, maintain and/or grant aid to Dharmasalas for the use of the general public.
jj) To construct public roads, parks, gardens, wells, tubewells, tanks and jalkshetra and/or maintain and/or grant aid for the construction, maintenance and/or repairs of the same for the use of general public.
kk) To grant relief to the people affected by earthquake, flood, fire, famine, pestilence, riots, war victims and other natural calamities of similar nature and to give donations, subscriptions or contributions to institutions, establishments or persons doing such relief work.
ll) To give financial assistance to local authorities, Municipalities and such other bodies engaged in public utility services.
mm) To help poor and indigent persons by way of Cash Donations or otherwise and distribute clothes, food, medical aid and other necessities of daily life amongst the poor, orphans and indigent persons.
nn) To establish, maintain and grant aid to institution/institutions for development of health.
oo) To construct, erect and maintain wells, tanks, bridges, bathing ghats, for the use of the general public.
pp) To support and grant aid to institutions/organizations
qq) To render assistance and/or grant aid to recognized public charitable trusts or institutions or associations.
rr) To do any other act for the advancement of general public utility.
ss) To accept donations towards the corpus of the Association or otherwise, and to give donations and/or contribution to other Associations, Trusts and institutions whose income be exempt under the Provisions of Income Tax Act.
tt) To organize seminars, workshops, training programmes; support, establish and maintain libraries, laboratories, training centers; print and publish books, periodicals; prepare audio and/or visual materials and create awareness and better understanding of the objects of this Association in the country.
uu) Generally, to do all such other things as are incidental or conducive to the attainment of the above objects.
2. The area of operation of the society shall be within India only.
3. The Income of the Association shall be utilized for the aims and objectives of the association and shall not be distributed among the members.
4. In the event of dissolution of the society, the assets standing in the credit of society shall be transferred to any other charitable society which has the same aims and objectives.
5. The Secretary of the association is authorized to correspond with the Registrar of Societies, Bengaluru.
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(President)
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(Vice President) |
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(Secretary)
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(Treasurer)
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(Joint Secretary – 1)
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(Joint Secretary – 2)
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(Joint Secretary – 3) |
(Joint Secretary – 4)
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MADIVAL COMMUNITY FOUNDATION
No.304(TF-4), V2 Sushmitha Enclave, 2nd Main, Ranganathpura, Magadi Road, Bangalore 560079,
Karnataka, India,
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LIST OF EXECUTIVE COMMITTEE MEMBERS
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Sl No |
Name & Address |
Age |
Occupation / Photo of the Member |
Designation & Signature |
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1 |
Ishwar Madival
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2 |
Shashidar B Madiwalar
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3 |
Vinod Madiwalar
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4 |
Ravikumar M L
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5 |
Devraj M Madival
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6 |
Sadanand Babu
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7 |
Ravi
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8 |
Manjunath Kallaveriah
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Witnesses:
1. 2
MADIVAL COMMUNITY FOUNDATION
No.304(TF-4), V2 Sushmitha Enclave, 2nd Main, Ranganathpura, Magadi Road, Bangalore 560079,
Karnataka, India,
1. NAME/ ADDRESS OF ASSOCIATION:
Name: MADIVAL COMMUNITY FOUNDATION
Address: No.304(TF-4), V2 Sushmitha Enclave, 2nd Main, Ranganathpura, Road, Bangalore 560079, Karnataka, India
2. APPLICATION:
These byelaws may be called the byelaws of the MADIVAL COMMUNITY FOUNDATION.
The provisions of these byelaws apply to the MADIVAL COMMUNITY FOUNDATION.
2.1 The members or any other person who are duly authorised / permitted by them to use the facilities of the Association shall be subject to the rules set forth in these byelaws.
2.2 The mere presence in the association activates and participation and membership of the association will signify that these bye –laws have been read and understood, are accepted, stand ratified and will be complied with at all times.
3. DEFINITIONS;
In this bye–laws, unless contrary to the context, the following words and phrases shall have the meaning described herein:
3.1. “Association" shall mean “MADIVAL COMMUNITY FOUNDATION”.
3.2. “Member” shall mean a member of the association in whose name the membership is assigned. Only Madivals are eligible to become Members of this society.
3.3. “Associate Member” means a family member of the Member General Power of Attorney holder, of the Member whose name does not appear in the first position. It is hereby clarified that Associate Members do not have voting rights unless specifically authorized by the member in writing.
3.4. “Committee Member” shall mean the duly elected Member or Associate Member who becomes part of the Management Committee for the time period entrusted to manage the Association as per the provisions of these byelaws.
3.5. The words “President”, “Vice President”, “Secretary”, "Treasurer” & “Committee Member “shall mean the President, Vice President, Secretary, Treasurer & Committee Member respectively of the Committee for the time period in office.
3.6. "Financial Year" shall mean the year commencing on April 1st, and ending on March 31st of the succeeding calendar year.
3.7. “Rules” shall mean rules enacted by the Association.
3.8. The “QUORUM” of the meeting shall mean a minimum of 50% of members being present in the general body meeting either personally or through duly constituted authorised person and a minimum of three members being present in the management committee meeting.
3.9. “Amendment to Bye Laws” shall mean amendment duly approved by the two-thirds of Members in duly constituted general body meeting or by a three-fourth majority of Members in a re-constituted meeting with reduced Quorum as defined herein.
3.10. “Amendment to Rules” shall mean amendment duly approved by the house with a simple majority Members in duly constituted general body meeting or by two-thirds majority of Members in a re-constituted meeting with reduced Quorum as defined herein.
3.11. "Management Committee", or "MC" shall mean the management committee of the Association formed in accordance with the provisions of Section _______________.
3.12. “PERSON” means and includes an individual, company, firm, society or association of persons.
3.13. “REGISTRAR" means the Registrar of Societies.
4. MEMBERSHIP
4.1. Every person who can be notified by the Management Committee of the Association can become the Member of the Association. A Member shall pay Rs. 5000/- (Rupees Five thousand only) each for each membership as entrance fee.
4.2. Every Member shall submit to the Secretary of the Association a nomination form along the following lines along with an attested recent Passport size photograph of the nominee. “In the event of my death, I hereby nominate ………………….. (Relationship), Mr/Mrs ……………… (Name), residing at ………… (Address) as my absolute nominee in respect of my membership No. ………….Address. Further, only one person who is a Major as per The Indian Majority Act 1875 shall be nominated for this purpose, and such nominee shall confirm his acceptance of the nomination in writing to the Association.
5. TERMINATION OF MEMBERSHIP:
5.1. The membership of the Association can be terminated by the Management Committee on any of the following grounds and the decision of the management committee shall be the final.
a. In the event of death of a member and there being no legal heirs.
b. The membership of the Association shall automatically end on the dissolution of the Association.
c. Membership shall end on the death of a member and there being no nominees.
d. Any member being declared as insane by any court of law.
e. Any member being bankrupt and declared the same by any competent court of law.
f. Any member having committed any crime and having been sentenced for the same by any competent court of law.
g. Any member not complying the rules and regulations of the association and acting detrimental to the interest and objectives of the association.
6. POWERS & DUTIES OF THE ASSOCIATION; -
6.1. The Association shall be a non-profit organization. It shall have the responsibility of administering the Association and its members. To this end the Association shall, through the Management Committee, convene annual meetings and special meetings when required, to approve the annual budget, decide upon the policy matters affecting the members, and for any other reason as the Management Committee may deem fit in the best interests of the Members. The Association may frame rules to amplify these byelaws and these rules, which shall be applicable to all members after they are passed in the Annual General Body Meeting or a Special General Body Meeting ("AGM/SGM"). In the event of any doubts or contradictions, these Bye Laws shall prevail over the rules.
6.2. The Association shall open a bank account or accounts and invest moneys of the association in approved Bank(s) and securities as recommended by the Management committee (the "Management Committee") comprising of a Treasurer and any other member from the Management Committee and as ratified by the Governing body.
6.3. The Association shall generally look after and be responsible for safeguarding, promoting and protecting rights and well being of members, and enforcing their respective obligation to each other.
6.4. The Association shall commence/defend any legal proceedings only in so far as it is related or connected with and affects the Members and the affairs of the Association and its members and also for common good of the members.
6.5. The Association shall promote and strive for a peaceful co-existence among all members of the association.
7. MEETING & QUORUM:
7.1. All resolutions of the Association shall require the approval of a simple majority of eligible members present at the meeting.
7.2. Meetings of the Association shall be held at places as agreed upon by the Managing Committee.
7.3. The Annual General Meeting shall be held on or before 30th September of every year. The quorum for the General body meeting shall be 50 % of the members of the Association. At such meetings members shall elect, by secret ballot, the Management Committee.
7.4. A Special General meeting of the Association shall be called by the Management Committee as directed by a resolution of the Management Committee or upon petition by at least 25% of the members having been presented to the office of the association. Such a meeting shall be convened within 30 days after (i) Management Committee resolution or (ii) receipt of the petition.
7.5. The Management Committee shall circulate (i) an e-mail; (ii) a circular for the AGM/SGM to all Members and (iii) put up a notice on the notice board indicating the time & venue of the meeting at least three weeks in advance of the AGM/SGM.
7.6. If any AGM/SGM cannot be conducted because of lack of quorum, the Management Committee may adjourn the meeting by one week at same time from the date, time the original meeting was called. The adjourned meeting requires no quorum and the members present in the adjourned meeting shall constitute the valid quorum
7.7. In any meeting of the Association, vote shall be cast in person or through duly authorized proxy. The authority to a proxy must be in writing. The proxy must be deposited with the Secretary/President of the Association not less than 48 hours before the time for holding the meeting. The proxy need not be a member, but no person may be a proxy for more than four members.
7.8. The AGM shall be conducted as follows; -
(i) Roll Call
(ii) Obituaries, if any.
(iii) Introduction of new members.
(iv) Annual Reports with audited balance sheet.
(v) Amendments to bye laws or rules, if any.
(vi) Proof of notice of meeting or waiver of notice.
(vii) Passing of minutes of preceding meeting/meetings.
(viii) Reports of members
(ix) Report of the Committee
(x) Appointment of Auditors
(xi) Unfinished business, if any.
(xii) New Business.
(xiii) Any other point with the permission of the Chair.
(xiv) Election of Management Committee members.
7.9. The SGM shall be conducted as per relevant clauses above, additional business as per Notice of the SGM and new business, if any.
7.10. The seating arrangement shall be such that one section is reserved for the members and duly authorized joint owners entitled to vote. The other section shall consist of Associate members who are not entitled to vote.
7.11. The association shall not act beyond the scope of its objectives without duly amending the provisions of these byelaws.
8. MANAGEMENT COMMITTEE
8.1. The Management /Executive Committee shall comprise of the following members
The election process shall be of the parliamentary format with the General Body electing the Managing Committee. The elected Management Committee will then nominate the office bearers by mutual consent.
It is suggested that responsibilities are assigned as follows within the Management Committee, with reporting structure as outline in Appendix -.
A Nominated Member is eligible to be an office bearer only if elected by the General Body; i.e.,: should the past President desire to be an office bearer in the new Management Committee he/she would need to stand for election and be elected by the General Body. A nominated Area Representative cannot also be an Office Bearer in the Management Committee. An Area Representative elected to the Management Committee would need to relinquish the post of Nominated Member (AR).
8.2. Members of the Management Committee shall be elected once in three years by and among the Members who are then members of the association. The Management Committee members shall nominate one member, other than the office bearers, as Vice President.
8.3. In the interests of continuity, the outgoing President of the Management Committee shall be automatically nominated as a member of the new Management Committee, subject to his own availability and acceptance.
8.4. All Members of the Management Committee will be bound by the Conflict of Interest guidelines as outlined below.
8.4.1. A Committee member may not participate in a matter under consideration by the Committee regarding the provision of services by the Committee member or the entity the Committee member represents.
8.4.2. A Committee member may not participate in any matter in which the Committee member, a qualifying relative or a business associated with the Committee member or qualifying relative, has a direct or in-direct financial interest.
8.4.3. Any Committee member, with a potential or actual conflict of interest, must disclose that fact, in writing to the Committee President as soon as the potential conflict is discovered and, to the extent possible, before the agenda for a meeting involving the matter at issue is prepared. If it should be determined during a meeting that a conflict of interest exists, the Committee member must verbally declare such conflict of interest, such declaration must be clearly noted in the minutes, and such Committee member must excuse him/herself from the remainder of the discussion and the voting.
8.5. A Committee Member who has breached the Conflict of Interest guidelines will be required to relinquish his post upon such breach being established and ratified by a Majority of the Management Committee.
8.6. The members of the Management Committee shall hold office for a period of Two year and shall be eligible for re-election at Annual General Meeting. The member can seek re-election for not more than two consecutive terms.
8.7. The Management Committee shall meet as often as may be required, and at least once in Ninety days. The matters discussed and the decisions arrived at, duties allotted and the proceedings of each such meeting shall be recorded in a Minute Book and copies thereof sent to each member of MC.
8.8. The quorum for the meeting of the Management Committee shall be three, provided that at least President or the Vice President shall be present.
8.9. In the event of any vacancy arising in the Management Committee during the course of a year, the Management Committee shall be entitled to co-opt any other member for the period till such time AGM/SGM is held. A maximum of two members can be co-opted. In the event of total number of Members falling below seven, a SGM shall be convened only for the purpose of holding fresh elections to fill the vacancies.
8.10. Any Management Committee Member, who is absent for three consecutive statutory Management Committee meetings without the prior permission of the chair, shall be required to relinquish his post in the interest of the Association. The vacancy so created shall be filled according to Para 8.9 above.
8.11. Before any meeting of the Management Committee, any committee member may, waive notice of such meeting. Such waiver shall be deemed equivalent to giving such notice. Attendance by a member at any meeting of the Management Committee shall be a waiver notice by him. If all the members are present at any meeting of the Management Committee: no notice shall be required and any business may be transacted at such meeting.
8.12. The President shall be the Chief Executive Officer of the Association and the Managing Committee. He shall preside over the meetings of the Managing Committee and the General Body. In his absence the Vice President shall preside over these meetings. He/she shall carry out the decisions of the Managing Committee through the Secretary and other Office-bearers. He/she shall also have control over the Sub-Committee constituted for special purposes. He/she will give directions to the members of the Managing Committee within the limits of their powers to achieve the objectives of the Association.
8.13. The Secretary shall be responsible for the general administration of the Association under the overall direction of the President. He shall be in charge of the correspondence of the Association. He/she shall be responsible for the proper execution of the decisions of the Managing Committee subject to the supervision of the President. He/she shall hold the office until the next elections. He/she shall be answerable to the Managing Committee and also to the General Body in the discharge of the functions.
8.14. The Treasurer shall be responsible for the financial matters of the Association under overall direction of the President. He/She shall be responsible for all the funds and the properties of the Association. He/she shall maintain the accounts of income and expenditure from all the sources which come to his/her hands. He/she shall maintain all the books of accounts. At the end of the accounting year, i.e. 31st March, he/she shall cause production of the final accounts duly audited by a Chartered Accountant for the year in the General Body Meeting along with the income and expenditure account and the balance sheet. He/she shall make payments for expenditure incidental to the administration of the Society with prior consultation with the President. He/she shall hold the Office until the next elections. He/she shall be answerable to the Managing Committee and also to the General Body in the discharge of the functions.
8.15. The Managing Committee can co-opt any person as an expert adviser, when discussing matters, where an expert opinion is considered necessary. The co-opted person will not have any voting rights.
8.16. The Managing Committee shall be authorized to employ a Manager and the office staff, as per budgets approved by the AGM /SGM, for the Association at a terms & conditions fixed by the AGM/SGM to perform the duties assigned by the committee.
8.17. All property of the Association, whether movable or immovable, shall be deemed to be vested in the Managing Committee Body. The Association may sue and be sued in the name of the President or Secretary or in the name of such other person as may be appointed by the Managing Committee for the occasion.
8.18. The Managing Committee may appoint any person or corporation to be the constituted attorney of the Association for any purpose or purposes
8.19. THE MANAGEMENT COMMITTEE SHALL HAVE POWER TO; -
I. Appoint, dismiss, terminate or suspend any person as its employee, and specify the purpose, terms, and limitations of such appointments. All these decisions shall be taken collectively by the committee or by such members nominated to take these decisions.
II. Make payments, authorize outgoings from the funds of the association for any purpose whatsoever provided such payments or outgoings are relatable. All Cheques of the Association shall be jointly signed by the treasurer and the President/ Secretary, or by such committee members empowered for the purpose.
III. Write & maintain proper books of accounts for income & expenditure of the Association. All meetings of the Committee, AGM &SGM shall be minuted and proper records maintained. Such books /records shall be open for inspection by all members of the Association.
IV. Enforce these byelaws and rules, or any other amendments thereto, in any manner it may deem fit and necessary and call for implementation and thereafter, if necessary, to embark on coercive action.
V. Call for an AGM/SGM for such purpose as may be considered necessary by it.
VI. Implement all decisions and direction of the general body.
VII. Determine the adequacy of maintenance deposit paid by the members and seek enhancements or alteration thereof by reference to the general body.
VIII. Ensure that maintenance funds are utilized in a proper way for the maintenance purpose only. Surplus funds shall remain with the Association only as loans due to members to be adjusted against future payable along with future outgoings of the association.
IX. Open a Bank account or accounts in the name of the association and operate the same through any two among President, Treasurer and Secretary and for that purpose to sign any application forms of the Banks, furnish a copy of these bye laws and rules and to deposit/invest moneys of the Association in securities/investments in accordance with guidelines framed for that purpose by the Investment committee comprising of the Treasurer and any other member of the Management Committee.
X. While investing moneys belonging to the Association, guidelines, framed from time to time by the Investment Committee and as ratified by the Management Committee, shall follow the following principles;
a. Of the three primary attributes of Safety, liquidity and Return associated with all investment decisions; “safety of principal” shall be accorded the highest priority.
b. Investments shall be so planned as to fulfill the liquidity needs of the Association and therefore part of the corpus shall be placed in Deposits, Securities or Mutual Funds that are liquid and shall also invest in the immovable properties. Moneys may not be placed with Co Operative or Unscheduled Banks.
c. Investments other than in Bank Deposits shall normally be in investment grade rated securities.
d. In order to achieve targeted return, it may, at times be necessary to explore Investments in Real Estate, Equity Shares/Derivative instruments or other alternative avenues which are subject to higher levels of price risk. The investment committee shall exercise caution while pursuing such investment options and shall endeavor to protect the principal.
XI. Do and perform all acts, deeds and things that may be necessary or incidental for the effective implementation of the decisions of the general body.
9. PUBLICATION OF ACCOUNTS, REPORTS & AUDITS
9.1. The Association shall, on or before June 30th of each year, publish an audited Annual Financial Statement containing:
a. Profit and Loss account
b. The receipts and expenditure of previous financial year
c. A summary of the properties and assets and liabilities of the common area and facilities of the Association, giving such particulars as will disclose the general nature of these liabilities and assets and how the value of fixed assets has been arrived at.
d. The said financial statements shall duly be drawn up to 31st march of each year.
9.2. The Audited financial statements shall be open to the inspection of any Member of the Association during the office hours and in the office of the Association, and a copy thereof shall be submitted to the competent authority not later than the 15th of August each year or the due date as stipulated under the relevant laws.
9.3. Every Financial statement shall be accompanied by a complete list of the members as on March 31 each year. The financial statement shall state up to what dates profits and expenses are included.
9.4. The Association shall appoint in its General Body an independent Chartered Accountant, who, is not an member of the association, as an Auditor who shall audit the accounts of the Association to be prepared by the Management Committee as here-in-before provided and shall examine the Annual Return and verify the same with the accounts relating thereto and shall either sign the same as found by him to be correct, duly vouched and in accordance with law, and specially report to the Association in what respect he finds incorrect, not vouched or not in accordance with the law.
9.5. The Management Committee may in its General Body Meeting appoint a qualified Internal Auditor who may be a Member, who will provide periodic reports to the Management Committee and report to the General Body at its Special or Annual General Body Meeting. The Internal Auditor shall not be a member of the Management Committee.
10. RESPONSIBILITIES OF MANAGEMENT COMMITTEE
The Management Committee shall be responsible for the day-to-day administration of the Association, in accordance with the byelaws and rules of Association. The responsibilities shall include the following: -
10.1. Timely collection of funds and dues/loans if any by the members and any other payments or dues that may be decided upon from time to time.
10.2. Maintenance of proper accounts relating to the income/expenditure of the Association, and preparation of an audited Annual Statement as on 31 March of each year.
10.3. General conservation and preservation of the environment for the good of the entire community.
10.4. Publish to all members on a Quarterly basis a status report outlining the achievements of the Management Committee and progress of specific agenda items in the prior quarter and priorities for the next quarter.
11. OBLIGATIONS OF MEMBERS:
11.1 All members shall comply with the byelaws and rules of the Association as well as any guidelines issued by the Association from time to time.
11.2 In case of delayed payments, the member concerned shall be liable to pay interest at a rate of 18% Per Annum applicable at that time or as per the agreed rate of interest.
12. APPOINTMENT OF LEGAL ADVISOR:
The Association may, when the circumstances so demand, appoint or engage an Advocate or a Law Firm to provide legal services including rendering legal opinion, drafting agreement or contracts, whetting of any legal document, providing legal advice or to participate in litigation or arbitration. The Executive Committee shall decide on the terms of appointment of the Advocate or Law Firm, as the case may be.
13. AMENDMENTS :
13.1. These Rules and Regulations and any Rules and Regulations herein made by the Association may from time to time be varied, added or revoked by majority of not less than three-fourths of the members of the Association present as per Sec. 9 and 10 of the Karnataka Societies Regulation Act, 1960.
13.2. No amendments to the Memorandum of Association and Rules and Regulations shall be made which may prove to be repugnant to the provisions of Section 2(15), 11, 12, 13 and 80G of the Income Tax Act. Further, no amendments shall be carried out without the prior approval of the Commissioner of Income Tax.
14. AMALGAMATION :
In case of amalgamation of the Society, Section 21 of the Karnataka Societies Registration Act of 1960 shall apply.
15. DISSOLUTION :
In case of dissolution of the Association, in accordance with the provisions of Sections 22 and 23 of the Karnataka Societies Registration Act, 1960 after meeting all the debts, the property and all assets remaining as on the date of dissolution shall under no circumstances be distributed among the members of the Governing Body, but the same shall be transferred to another Society, Charitable institutions, Society or Association whose objectives are similar to those of this Institution/ Society/ Association and which enjoys recognition under section 80G of the Income Tax Act, 1961.
16. INVESTMENTS :
The funds of the Association/Society shall be invested in the modes specified under provisions of Section 13(1)(D)read with Section 11(5) of the Income Tax Act, 1961.
17. SINKING AND RESERVE FUNDS:
The Association shall have a Sinking Fund for the purposes of needy people and other exigencies that may arise to any natural calamities, riots, terrorist acts or other acts of God. The Sinking Fund may be created out of a portion of the contributions towards maintenance charges or by collecting such amount separately, as may be decided by the General Body.
The Reserve Fund of Association shall comprise of:
a) The amounts carried forth to the said fund from year to year, out of the excess of income over expenditure.
b) Entrance fees to be paid to the Association from its new members anytime hereinafter.
c) All donations received by the Association except those received by it for any specific purposes.
18. ARBITRATION PANEL;
18.1. The role of the arbitration panel is to provide effective checks and balances for the functioning of the MC. Their responsibilities include:
18.2. The arbitration panel can seek further assistance (where relevant) from any source – resident, outside expert, etc. and their duty is to arbitrate between the MC and the residents if there is a divergence of opinion relating to the interpretation of the rules and standards.
18.3. In case of reasonable doubt, benefit of interpretation to be given to the resident.
18.4. Final decision by Arbitration Panel’s recommendations/report shall be taken by the Management committee and shall be binding on the resident .
18.5. To recommend steps, where relevant for corrective action as well as for good governance.
18.6. Structure
a) The Arbitration Panel will comprise of three members considered to be of high level of intellectual integrity and nominated by the President and Secretary; objective; non-partisan; well respected; ability to look at issues in the overall interest of the community; high level of commitment; sense of fair play.
b) The Leader chosen among the panel members to be designated Chairman of Arbitration Panel. The Panel members are nominated by the MC. The Outgoing MC can make recommendations. The initial Panel will have Tenure of three years and subsequent panels will have tenure of two years. Any Member can serve a maximum of two successive terms.
18.7. Authority
Role carries moral authority (not functional or executive). Formal authority is limited to:
a) Calling for MC meeting to review any specific issues rose / referred by residents, which require wider discussion.
b) Calling for EGM / SGM if dissatisfied with the decisions or functioning of the MC.
19. The benefits of the Association shall be open to all irrespective of caste, creed or religion.
And generally to do all such other things, as may be deemed by the Managing Committee to be incidental or conducive to the attainment of all or any of the objectives of the Association.
We certify that the above is a correct copy of the Rules and Regulations of “MADIVAL COMMUNITY FOUNDATION”.
Secretary
Appendix A
(Management Committee Structure)
UNDERTAKING
I, -------------------S/o ------------------, aged ------------- years, residing at ----------------------------, Secretary, of MADIVAL COMMUNITY FOUNDATION, Bangalore DO HEREBY UNDERTAKE as follows;
1. THAT the Objectives of the Society as outlined in the memorandum of Association, shall be attained without any profit, and shall be for the benefit of all persons irrespective of caste, creed, language, race or religion.
2. That the income, if any, shall not be distributed or paid as dividend or in any other form amongst its members.
3. That the society shall not carry on any business activity and whatever the objects outlined in the Memorandum of Association are of charitable nature, especially to help the people.
SIGNED AND DECLARED by the said )
Secretary on this the ______th day of ________ )
2018 presence of )
We, the First Governing Body members of the MADIVAL COMMUNITY FOUNDATION, Bangalore do hereby declare that the excess of the income over expenditure, if any, or other income of the Society shall be used in promoting the objectives and shall not in any way be paid as dividend or distributed amongst its members as income.
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(President)
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(Vice President) |
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(Secretary)
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(Treasurer)
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(Joint Secretary – 1)
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(Joint Secretary – 2)
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(Joint Secretary – 3) |
(Joint Secretary – 4)
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APPENDIX –A
BYE-LAWS
OF
MADIVAL COMMUNITY FOUNDATION
ASSOCIATION