Acts & Rules
Acts & Rules – Bestows Cooperative Multi Purpose Society, Rohtak
At Bestows Cooperative Multi Purpose Society, Rohtak, we operate under a strict legal framework to ensure transparency, compliance, and the well-being of our members. Below are the key Acts & Rules that govern our operations, categorized according to our core services:
1. Membership Regulations
Membership in our cooperative society is governed by the Cooperative Societies Act, 1912, and the Haryana Cooperative Societies Act, 1984. These laws define the eligibility criteria, rights, and responsibilities of members.
🔹 Key Provisions:
✅ Any individual or business entity fulfilling eligibility criteria can apply for membership.
✅ Members have the right to vote and participate in the governance of the society.
✅ Membership can be revoked if a member violates society rules or engages in fraudulent activities.
📌 Reference: Haryana Cooperative Societies Act, 1984
2. Financial Contribution & Investment Rules
Bestows CMS offers various financial schemes in compliance with The Multi-State Cooperative Societies Act, 2002 and RBI Guidelines on Cooperative Finance.
🔹 Key Provisions:
✅ Members can contribute to society through savings, investments, and deposits.
✅ The society follows government-mandated interest rates and financial policies.
✅ Investment plans comply with the Securities and Exchange Board of India (SEBI) Regulations.
📌 Reference: Multi-State Cooperative Societies Act, 2002
3. Grievance Redressal Mechanism
To address member concerns effectively, we follow the Consumer Protection Act, 2019, and cooperative dispute resolution policies under the Haryana Cooperative Societies Rules, 1989.
🔹 Key Provisions:
✅ Members can file complaints regarding financial transactions, governance, or other disputes.
✅ Grievances are resolved through arbitration as per The Arbitration and Conciliation Act, 1996.
✅ Members have the right to appeal to higher authorities in case of unresolved disputes.
📌 File a grievance here: Grievance Portal
4. Legal Compliance & Regulatory Laws
Our society strictly follows the Income Tax Act, 1961, Goods and Services Tax (GST) Act, 2017, and other relevant financial laws.
🔹 Key Provisions:
✅ All financial transactions comply with taxation laws and GST regulations.
✅ Audit and reporting follow The Companies Act, 2013, to ensure transparency.
✅ Our society abides by banking and finance guidelines set by the Reserve Bank of India (RBI).
📌 Reference: Income Tax Act, 1961 | GST Act, 2017
💼 Bestows Cooperative Multi Purpose Society, Rohtak is committed to providing financial security and ensuring full compliance with legal and regulatory frameworks.
📞 For legal inquiries, contact us at: 9896544222
📩 Email us at: Bestowscms@gmail.com
📍 Visit Us: 1st Floor, Near Indian Oil Petrol Pump, Jhajjar Chungi, Rohtak, Haryana, PIN: 124001