Reminder: Housing Societies Must Hold FY 2025-26 AGM by September 30

With just over five weeks left, managing committees across Maharashtra are being reminded that Section 75 of the Maharashtra Co-operative Societies (MCS) Act, 1960 requires every registered housing society to hold its Annual General Meeting (AGM) within six months of the close of the financial year. Since a society's financial year runs from April 1 to March 31, the AGM for FY 2025-26 must be completed by September 30, 2026.

What the AGM must cover

The AGM is where the managing committee places the audited accounts, income and expenditure statement, and balance sheet before members for approval. It is also the forum for electing or re-electing committee members where terms have expired, appointing the statutory auditor for the coming year, and ratifying any major decisions taken during the year, such as fund transfers or maintenance revisions. A 14-day clear notice, along with the agenda, must reach every member before the meeting.

New options and requirements this year

Societies now have more flexibility in how they conduct the AGM. Under the Maharashtra Co-operative Societies (Amendment) Rules, 2026 notified earlier this year, societies may hold the AGM through video conferencing or other audio-visual means, provided the notice specifies the platform and members can verify attendance and voting. Committees should also ensure the accounts presented reflect the revised sinking fund, repair fund and major repair fund minimums introduced under the same amendment rules, since auditors and members will expect these to be reflected in this year's financial statements.

What this means for housing societies

• Committees should finalize audited accounts and issue the 14-day AGM notice well before September 30 to avoid a last-minute rush.
• Missing the deadline can expose the managing committee to disqualification, and the Registrar may appoint an administrator to run the society until a proper AGM is held.
• Societies opting for a virtual or hybrid AGM must confirm in advance that the chosen platform allows verifiable attendance and voting, as required under the 2026 amendment rules.
• Where committee members' terms have lapsed, elections or co-options must be conducted at this AGM to keep the committee validly constituted.

Societies unable to meet the deadline for genuine reasons may apply to the Registrar for an extension, but this is granted only in exceptional circumstances and should not be assumed. Committees are advised to start preparations now — finalizing accounts, confirming the auditor's report, and scheduling the venue or video-conferencing platform — so the AGM is held well within the statutory window.