Section 77 in The Gujarat Co-Operative Societies Act, 1961
77. Annual general meeting.
- [(1) Every society shall convene the general meeting of its members within a period of six months of closure of the financial year to transact the business as provided under this Act.] [Substituted by Gujarat Act No. 17 of 2013, dated 15.4.2013.](2)At every annual general meeting of a society, the committee shall lay before the society a balance sheet and profit and loss account for the year in the manner, prescribed by the Registrar by general or special order for any class or classes of societies.Explanation. - In the case of a society not carrying on business for profit an income and expenditure account shall be placed before the society at the annual general meeting instead of profit and loss account; and all references to profit and loss account, and to "profit" or "loss" in this Act, shall be construed in relation to such society a references respectively to the "excess of income over expenditure" and "excess of expenditure over income".(3)There shall be attached to every balance sheet laid before the society in general meeting, a report by its committee, with respect to (a) the state of the society's affairs; (b) the amounts, if any, which it proposes to carry to any reserve either in such balance sheet, or any specific balance sheet; and (c) the amounts, if any, which it recommends for payment by way of dividend, bonus, or honoraria to honorary workers. The Committee's report shall also deal with any changes in the year for which the accounts are drawn up. The committee's report shall be signed its Chairman, or any other member authorised to sign on behalf of the committees.(4)At every annual general meeting, the balance sheet, the profit and loss account, the auditor's report and the committee's report, shall be placed for adoption, and such other business will be transacted as may be laid down in the bye-laws and of which due notice has been given.(5)Where any officer of the society, whose duty it was to call a general meeting within the period specified in sub- section (1) [***] [Deleted 'or, as the case may be, the period extended by the Registrar under that sub-section or to comply with sub-section (2), (3) or (4) fails without reasonable excuse to call such meeting or to comply with sub-section' by Gujarat Act No. 17 of 2013, dated 15.4.2013.] (2), (3) or (4), then-(i)if such officer is a servant of the society, the Registrar may by an order in writing impose on him a penalty of an amount not exceeding one hundred rupees, and(ii)if such officer is not a servant of the society, the Registrar may by an order in writing declare such officer to be disqualified for being an officer or a member of the Committee, of the society or for being elected or appointed to any office of the society, for such period not exceeding three years as he may specify in the order :Provided that before making an order under this sub- section, the Registrar shall give or cause to be given, a reasonable opportunity to the officer to show cause against the action proposed to be taken in regard to him.
