Co-operative Housing Society
By
Ashwini N Dalal
Published In
Legal Aid (Aug) 2015
Whether the formation of Co-operative Society is Fundamental Rights?
Prior to 2011, formation of co-operative society was only a statutory right, but now is elevated as Fundamental Right by the Constitution (97th) Amendment Act, 2011 which came into force on 15 February 2012. By this amendment, in Article 19(1)(c) of the Constitution, words ‘or co-operative societies’ have been inserted, Article 43B ‘Promotion of co-operative societies’ along with Article 243ZH to Article 243ZT. Insertion of ‘or co-operative societies’ leads to formation of co-operative society as a Fundamental Right. Positive aspect of this step is to prepare the Management of the co-operative society to make changes in their co-operative entity to face challenges due to globalization like Foreign Direct Investment and sectors like Retail Trade. Further, is to solve the problem of mismanagement, financi ....