Sunday 13 November 2011



CS (1) 27342/68                                                                  
 Office of the Registrar of CooperativeSocieties,

                                               Trivandrum, 18th January 1969


Sub:   Wholesale Co-operative Consumers Stores-Acceptance of tenders for execution of work.

Complaints are being received from parties submitting tenders to the wholesale Stores for works proposed to be executed by them, stating that tenders are often not opened in their presence.  The contention of the wholesale stores is that there is no condition in the tender notice that the tenders would be opened in the presence of the parties. 

Whenever any work is entrusted by calling tenders, there should be a clause in the tender notice to the effect that the tenders would be opened at a specified time in the presence of the tenderers, if any present.
For Registrar of Co-operative Societies

CS (3) 6547/69 (iii)                                                              
Office of the Registrar of CooperativeSocieties,
                                               Trivandrum, 16th July 1969

CIRCULAR No. 12/69

Sub:   Wholesale Co-operative Stores-Shifting or Closing down of branches-Regarding.

All the Wholesale Stores are requested to obtain the prior sanction of this office before shifting or closing down of their branches in respect of which share capital contribution or managerial subsidy has been obtained from Government.  The circumstances which necessitate the shifting or closure should also be reported through the Deputy Registrar concerned with details of assistance received, membership, members share capital etc.
K. Ravunny Menon
For Registrar of Co-operative Societies

\¼À kn.Fkv.(1)þ24737/69                                          
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No. 38482/69/G3.                                                                
Office of the Registrar of Co-operative Societies
                                              Thiruvananthapuram, 12th September 1963

CIRCULAR No. 35/69

Sub:   Co-operative Societies-Utilisation of general funds on suits or appeals filed by individual directors-Prohibition of-Instructions issued.

Very often persons contesting in elections to the Committees of Co-operative Societies file arbitration references, appeals or writ petitions to set aside the elections or for other relief.  Some of them also happen to be the sitting members of the committee.  Since they contest the elections in their individual capacity, the expenses on such arbitration references, appeals or writ petitions have to be met by the individuals concerned and no part of the funds of the society should be spent for such purposes.

Similarly, when a committee is superseded under Section 32 or a new committee or Administrator is appointed under Section 33, some persons file appeals or writ petitions to quash such orders.  The funds of the societies should not be utilised to meet the expenses on such appeals or writs.

If at any time it is found that the funds of societies have been utilised for meeting such expenses it has to be treated as misapplication of funds and would stand recoverable from the persons responsible for such expenditure.

This is brought to the notice of all co-operative institutions and departmental officers for information and guidance.
For Registrar of Co-operative Societies

Office of the Registrar of Co-operative Societies,
                                             Thiruvananthapuram, 15th November 1969

CIRCULAR No. 43/69

Sub:   Method of arriving at Net Profit contemplated in the Kerala Co-operative Societies Rules, 1969-Treatment of overdue interest on loans issued by Co-operative Societies-Instructions issued.

According to the definition under Rule 2 (g) of the Kerala Co-operative Societies Rules 1969, Net Profit means Net Profit as certified by the Registrar of Co-operative Societies.  This is done in the audit certificates issued under Rule 64 (6).  Rule 53 implies that the net profit shall also be the divisible profit.  The method of arriving at the net profit has not been specified in the Kerala Co-operative Societies Rules as was done under the old Travancore-Cochin Co-operative Societies Rules.  There is no uniformity in the procedure followed in the erstwhile Malabar area and Travancore Cochin area in the matter of arriving the Net Profit/Divisible Profit.

In the Malabar area overdue interest is not taken to profit.  But the overdue interest so excluded from the profit is shown as an item of assets in the Balance Sheet.  As a result, the difference between the assets and liabilities in the Balance Sheet would exceed the net profit as per the Profit and Loss Account to the extent of such overdue interest.  In certain cases this is avoided by creating a reserve to the extent of overdue interest and showing it on the liability side of the balance sheet.

In the Travancore-Cochin area all interest accrued during the year is taken to profit.   After arriving at the net profit all interest outstanding to be collected at the end of the year is deducted therefrom to arrive at the divisible profit.  Hence the difference between the assets and liabilities would be equal to the net profit revealed by the profit and loss account.

The question of bringing about uniformity in the matter was discussed at the conference of the Departmental Officers held at Trivandrum on 21-9-1969.  After examination all the aspects in detail, the following instructions as issued for the guidance of the officials and non-officials in the Co-operative movement.  The interest pending collection in a Co-operative Society/Bank from the date up to which interest was last paid on the principal to the date on which co-operative year closes is known as “accrued interest pending collection”.  The accrued interest pending collection is divided into:
          (i)     Interest accrued but not due for payment.
          (ii)    Interest overdue i.e. interest that fell due but was not paid before the end of the Co-operative year, and
          (iii)   Interest accrued after an item of interest became overdue, i.e. accrued interest for the period between the date when an item of interest fell due but was not paid and the last day of the year.

The entire interest accrued (collected and pending collection) during the year should be credited to the profit and loss account, and simultaneously a reserve for the overdue portion of interest pending collection at the end of the year (items ii and iii above) should be created by debiting the profit and loss account.
The entire interest pending collection should be classified separately as (a) Interest not overdue (b) Interest overdue, and shown as item of assets in the Balance Sheet.  (Item (i) above represent interest not overdue and items (ii) plus (iii) above represent “interest overdue”.)  Besides, the Reserve for overdue interest (items ii plus iii) created by debiting the profit and loss account, will appear on the liability side of the Balance Sheet.

Now the difference between the Assets and Liabilities in the Balance Sheet will be equal to the Net Profit disclosed by the profit and loss account.  The profit that arrived at should be treated as the net profit certified by the Registrar in the audit certificates issued under Rule 64 (6), and this net profit is divisible in the manner specified in Rule 53.

The Reserve for overdue interest created in respect of a particular co-operative year will have to be removed during the subsequent year by crediting the same to the Profit and Loss Account for that year. Simultaneously a fresh reserve for overdue interest at the end of such subsequent year should be created as was done in the previous year. This process will continue from year to year.

The Auditors should see that suitable adjustment entries in respect of the above items are also made in the books of accounts of the societies/Banks before finalising the annual audit.  This should be positively done in the case of societies/Banks coming under the purview of the Banking Regulation Act.

The above procedure should be followed in respect of audits of accounts pertaining to the year 1968-1969 and thereafter.
K. Krishnan Nambiar
Registrar of Co-operative Societies

No. 41811/69/G3.                                                               
Office of the Registrar of Co-operative Societies
                                              Thiruvananthapuram, 15th November 1969
CIRCULAR No. 44/69
Sub:   Co-operative Societies-Irrecoverable items of assets-Write-off proposals-Regarding.
Ref:   Letter No. PL2-1985/69/PL2 dated 30-9-1969 from the Deputy Registrar, Palghat.
In his letter cited above, the Deputy Registrar, Palghat has stated that as per rule 62 of the rules framed under the Act every write off proposal should be accompanied by a Certificate signed by the auditor appointed under Section 63 of the Act.  He has also solicited instructions regarding the procedure to be adopted in such cases, since it will be difficult for the societies to obtain the certificate from the auditors.
The rules do not stipulate that the write off proposals should be accompanied by a certificate signed by the auditor. It only says that such of the dues to the society including loans and interest thereon which are found irrecoverable, and certified as such by the auditors appointed under Section 63 may be written off with the approval of the general body and sanction of the Registrar.  Under clause (iv) of sub rule (5) of rule 64, the auditor has to furnish a schedule with full particulars of any money or property belonging to the society which appears to the auditor to be bad or doubtful debts, along with the audit report.  Hence all bad debts included in the Schedule as Bad Debt can be taken as irrecoverable debt as certified by the auditor for the purpose of write off.
It has however to be noted that the mere classification of  an item as bad or doubtful by the auditor is not ground for write off.  It is the responsibility of the society to exhaust all possible steps for recovery before recommending write off to the general body.  The resolution to be moved in the general body should be based on definite office note and Board’s recommendation to the general body as to the steps exhausted and how the board has come to the conclusion that the amounts involved are irrecoverable. Before giving sanction for write off, the Deputy Registrars should satisfy themselves that the above conditions are satisfied.
K. Krishnan Nambiar
Registrar of Co-operative Societies


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Premlal said...

Malayalam circulars are not readable.

allnews International Cooperative Alliance National Cooperative Union of India Kerala State Cooperative Union Cental Ministry of agriculture and Cooperation Kerala Cooperative Department Minister for Cooperation, Kerala Kerala Laws NCDC NABARD Reserve Bank of India NAFED NCCF Cooperative Service Examination Board KPSC KSCB civil services UPSC