bangaluru branch of sirc of icai
TRANSCRIPT
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Overview of Real Estate
(Regulations & Development)
Act, 2016
Presented by CA.Ramesh Prabhu, Chairman,
MahaSeWA/ 09820106768
Tel: 022-42551414/ [email protected]
BANGALURU BRANCH OF SIRC OF ICAI
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LAWS EVOLVED IN PROPERTY TRANSACTION
• Contract Act 1872 –General
• Transfer of Property Act,1882
• Indian Stamp Act, 1899
• Registration Act, 1908
• Cooperative Societies Act 1912
• Mah.Ownership Flats Act, 1963
• Consumer Protection Act 1986
• Real Estate(Reg & Dev ) Act, 2016
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10th Feb’15Major
Amendments from Cabinet
1963MOFA
2012MHRA
2013 & 2015
Birth of RERA
10th March’16Rajya Sabha
passes the Bill
15th
March’16Lok Sabha passed the
bill
25th March’16Ascent of President
26th March’16Published in Gazette of
India
24th April’17MahaRERA rules
by Govt. of Maharashtra
(48 regulations)
20th April’17MahaRERA
rules by Govt. of Maharashtra
(23 rules)
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WHY THIS Act IS REQUIRED..??
HIGHLY UNREGULATED
NO TRANSPARENCY
NO INFORMATION
NO EASY REDRESSAL
DELAY in POSSESSION
NO OC & BCC
DEMAND IN CASH
?
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WHY THIS Act IS REQUIRED..??
NOT FORM SOCIETIES & NO CONVEYANCE.
NO AGREED AMENITIES
NO MAINTENANCE ACCOUNTS
SELL PARKING & OPEN SPACES
FRAUD & CHEATING
NO APPROVED PLANS, TITLE
DEED
FLAT SOLD AT SUPER BUILT UP
?
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CONSTRUCTION
THE REAL ESTATE (REGULATION &
DEVELOPMENT) 2016
Applicable
All Over
India
Related to
Owning / acquiring
Rights
Concerned
with construction
All the connected
Central & State
Law applicable
Freehold Rights Leasehold Rights
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Protecting Consumer
Interest
Transparency and Efficiency
1 2 3
4
Regulation & Development
APPELLATE TRIBUNAL
OBJECTS
Regulatory Authority
OBJECTS OF THE REAL ESTATE(R &D) ACT, 2016
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Intro: The Real Estate (Regulation and Development) Act, 2016
The Central and state Govt to notify the Rules in six months and Establish the Real Estate Authority & Appellate Tribunal in 1 yr.
Regulator: RERA- To register RE projects, RE Agents, Monitor, supervise, redress disputes, Control & protect all stakeholders.
The law is not Retrospective but applicable to all on going projects and new projects- Commercial, residential, plotting etc..
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MOTHER OF REAL ESTATE DEVELOPMENT LAW -
Real Estate (Regulation &Development)Act, 2016
Applicable All OverAll Over IndiaExcept J & K
Related to Owning / acquiring
Rights
Concerned with :(1) Apartments
(2) Plotted development(3) Buildings
Implemented through All the connected
Central & State Law applicable
Freehold Rights Leasehold Rights
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APARTMENTS = INDEPENDENT UNIT/FLAT
Provided or agreed to be provided by the PromoterTo the Purchaser for a Consideration
Residential Flat
Shop Garage BunglowIndustrial
Gala
Row HousesAny Constructedor to be Constructed Structure
OfficeOffice
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FUNCTIONS OF RERA
Administrative
(Sec. 25)
Judicial
(Sec. 31,36, 37 & 39)
Advisory
(sec. 32 & 33)
Executive
(Sec. 40)
Regulatory
(Sec. 34 & 35)
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PARTIES ACCOUNTABLE UNDER RERA
LAND OWNER
DEVELOPER
Architect
Engineer/ Contractor CA
Competent Authority
Estate Agent / Advertisement
Customer
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PARTIES ON WHOM OBLIGATIONS ARE MADE APPLICABLE under RERA
1. Individual, 2. Firm. 3. Company, 4. Assn of Persons,5. Govt., 6. Semi Govt. 8. Local Authority 9. Trust10. Society – u/SRA, 11. Co-operative Society u/ MCS of MSC12. LLP or any other person or group of persons.
PromoterAllotees
(Flat Buyer/s )
Land OwnerBuilder / Developer
Single Group
RE Agents, ProfessionalsContractors and other
Agencies Connected with RE Projects
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THE SALIENT FEATURES OF THE RERDA-2016
To Establish a Regulator
Accreditation
Mandatory public disclosure norms
Obligations of promoters
Obligation of allottee
The Authority to act as the nodal agency
Powers to make Act, Rules, Regulations ,Direction etc
Dispute resolution mechanisms
Penal provisions
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SALIENT FEATURES OF THE ACT
Real Estate Project Registration
Real Estate Agent Registration
Filing of Complaints
Financial Discipline
Transparent & Consumer-oriented
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REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENTS
REGISTRATION
NEW PROJECT-
Sec 3(1)
ONGOING PROJECT
Prov to Sec 3(1)
REAL ESTATE AGENTS
Sec 9
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U/S. 3 COMPULSORY REGISTRATION OF REAL ESTATE PROJECT
FOR DEVELOPMENT OF ANY IMMOVABLE PROPERTY IN PHASES
OR OTHERWISE And All Pending Projects where OC is not received within 3 months And New Project
before offer for sale.
REGISTRATIONEXEMPTED
AREA DOES NOT EXCEED 500
SQ.METERS OR Less than 8 Units
All Completed Projects Where OC is Granted.
RENOVATION OR REPAIRS WHICH
DOES NOT INVOLVE REALLOTMENT& MARKETING
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U/S. 4 DISCLOSURE OF INFORMATION BY THE PROMOTER
By Registration of the Project for development of immovable property in specified form by paying prescribed fees and by submitting
information.
No & Size of Layout, phases
Proposed Project &facilities
Approvals for each
phase
Declaration by
Promoter
He has Title & land is free from Encumbrances &
Specimen of Agreement for
sale Conveyance deed Allotment
letter etc
Project to beCompleted
as per Terms Of Registration And schedule of completion
Project to be CompletedWithin the
period Of sanction by
Competent Authority
70% of Realized amt to be deposited
in a separate a/c In Sch. Bank For meeting cost
Of project
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U/s 5 GRANT AND U/s 6 EXTENSION OF REGRN
REGISTRATION
u/s 5(1) (a) : GRANT
REGISTRATION WITHIN 30
DAYS
U/s 5(2) Deemed
Registration after lapse of
30 days
U/s 5(1)(b) Reject the
registration within 30 days
U/s 6 Extension for
a period of one year
(1)provide a Registration number,(2)Login Id and password for accessing
the website (3)Period of Registration: As provided
by the promoter
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U/S. 7 RECOVACTION OF REGISTRATION OF REAL ESTATE PROJECT
On complaint by any Stakeholders
Debar thepromoters
From Execution &Accessing Website
Declare as
Defaulter
And
Display
Photographs
In All States
Website.
Freeze the Dedicated account and
Transfer the
balance
To complete the
project
Suo moto based on any information, Audit Report etc
U/s8 :Consequence of Revocation or Lapse
Complete the
Project
by the associationof allottees or
in any other
manner.
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U/S. 9 COMPULSORY REGISTRATION OF REAL ESTATE AGENT & U/s 10 Functions.
U/s 9 No unregistered Real Estate Agents shall facilitate sale of
registered projects with RERA.
U/s 10 Functions of Real Estate
Agent
Not to Facilitate sale
of unregistered
projects
Maintain the
books of a/c
Facilitate for all
information & Docs
Not to involve in any unfair
trade practices.
Any other functions prescribe
d
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OBLIGATIONS OF PROMOTERS :
Sec-3
• Register the project with the authority before offer to sell.
Sec- 4
• Upload 5 yrs track record and project details on website.
Sec 4
• deposit 70% of buyers in a separate scheduled bank account, to be used for land cost and construction after certified by Architect , Engineer and Chartered Accountants. & Audit .
Sec 11 • Disclose all the details of the project to customer
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OBLIGATIONS OF PROMOTERS :
Sec-11• Form the society on booking majority flats
Sec- 12
• Liable for damages for any misinformation in Advt.
Sec -13
• Register the agreement before receiving more than 10%
Sec 14
• Adhere to approved plans & project specifications Promoter is liable for 5 years defect liability
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OBLIGATIONS OF PROMOTERS :
Sec-15
• NOC from 2/3rd and Authority to create third party interest
Sec- 16• Take insurance of Title and building
Sec -17• Transfer the title within 3 months of OC
Sec 18 • Refund , compensation and interest on default.
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Real Estate Regulatory Authority Ensures Compliance & Enforcement
APPELLATE TRIBUNAL
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Flat Purchasers
and Consumer to transact with
Promoters.
Screening Authority between Promoter &
PurchasersCollect all the
Information ,Approval, Documents & persons
involved in the execution of RE Project & Grant Registration &
Redress Disputes
1
Promoters:To get approval from Competent Authority:
Planning and local Authority like PMC,
MCGM etc.
REAL ESTATE Regulatory Authority :Not a separate Approval Authority
2 3
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RERDA- 2016
Chapter I : Preliminary : Sec 1 and 2
Chapter II : Registration Of Real Estate Project And
Registration Of Real Estate Agents – Sec 3 to 10
Chapter III : Functions And Duties Of Promoter – Sec 11 to 18
Chapter IV : Rights And Duties Of Allottees - Sec 19
Chapter V: The Real Estate Regulatory Authority- Sec 20-40
Chapter VI : Central Advisory Council - Sec 41 and 42
Chapter VII : The Real Estate Appellate Tribunal : Sec 43 to 58
Chapter VIII : Offences, Penalties And Adjudication: 59 to 72
Chapter IX : Finance, Accounts, Audits And Reports: 73 to 78
Chapter X : Miscellaneous : Sec 79 to 92
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RIGHTS OF ALLOTTEES
Rights
Right to information &
documents
Right to obtain certificates
Right to claim compensation
Right to withdraw from project
Right to execution of registered
Satakhat
Sanctioned plans, documents of insurance
Completion, occupancy & Lease
Breach of agreement & defective title
Alterations, trf. To 3rd
party or registration revoked
If more than 10% advance demanded
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DUTIES OF ALLOTTEES
Before booking, verify builder’s registration
Not to buy apartment in unregistered projects
Not to pay more than 10% of cost before agreement and payment should be made by banking channels only.
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DUTIES OF ALLOTTEES
To make necessary payments as per Agreement & interest for delay thereon
To participate in formation of association
To participate in registration of conveyance deed
To take physical possession within a period of 2 months receiving occupancy certificate
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REGULATORY SYSTEM
AUTHORITIES
CENTRAL ADVISORY COUNCIL
(Sec. 41 &
42)
RERA
(Sec. 20
to 40)
APPELLATE TRIBUNAL
(Sec. 43
to 57
HIGH COURT
(Sec. 58)
ADJUDICATING OFFICER
(Sec. 71 & 72)
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Regulatory Authority
1
Central Government (Union Territory)
State Government (States)
Selection Committee
APPROPRIATE GOVERNMENT
1 chairman 2 MembersConstitution
Selection Committee
RecommendationsRecommendations
2
A person with at least 20yrs of experienceOrSecretary to CG or anyequivalent post in CG or SG
A person with at least 15 yrs ofexperienceOrSecretary to SG or anyequivalent post in CG or SG
CH-V ESTABLISHMENT OF REGULATORY AUTHORITY
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Settle disputes b/w allottee & promoters
Functions of RA
Granting Registration
Recovery of Penalties
Ensu compliance of Directions
Enter names of Defaulter Developers on the website
Promote transparent, efficient & competitive real estate sector
To fix charges levied on allottee
Maintain Website
compliance of obligations
Standardization of construction
Recommendations
Advise to Appropriate Govt.
Making Enquiries
Ensure construction of Affordable Housing
Settle disputes amongst allottee themselves
FUNCTIONS OF REGULATORY AUTHORITY
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Call Information from Promoters
Powers of RA
Setup Dispute Resolution Mechanism
Revocation of Registration
Appoint person for inquiry/ Adjudicating officers.
Certain Powers of Civil Court
To Issue Directions
Appoint Arbitrators etc.
Ensure Completion of project
POWERS OF REGULATORY AUTHORITY
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Central Advisory Council
1. Central Government to appoint Central Advisory Council.
1
Central Government
Planning Commission
10 Representatives from consumers, builders estate agents
ConstitutionMinistry of Corporate Affairs
Ministry of Finance
Ministry of Industry & Com.
Ministry of Consumer Affairs
Ministry of Law and Justice
National Housing Bank
Housing & Urban Dev. Corp.
SG/State RERA Representative
Central Govt. Representatives
ESTABLISHMENT OF CENTRAL ADVISORY COUNCIL
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FunctionsOf CAC
Advise Central Government
Implementation of Act
Policy regarding real estate sector
Protection of consumer interests
Foster growth in real estate sector
Any other duty or function
L-1ESTABLISHMENT OF CENTRAL ADVISORY COUNCIL
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Appellate Tribunal
1
Appropriate Govt
1 Judicial Member
Constitution
Recommendations of SC
2
1 Tech./ 1 Admin. Members
Judge of Supreme CourtOrChief Justice of High Court
Judge of High Court
A person with 20 yrsexperience in field of urbandevelopment, housing, realestate etc.OrSecretary to GOI or anequivalent post in CG or SG
Selection Committee
ESTABLISHMENT OF APPELLATE TRIBUNAL
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Appellate Tribunal
Appeal to be preferred to AT against order of RA (within 60 days).Appeal to be decided by AT within 60 days. Order of AT to be executedas Decree of civil court.
Functions Powers
➢ Between Promoter &Allottee➢ Between Promoter &RA
Hear & Dispose Appeals
Adjudication of Disputes
Not bound by CPC
Not bound by Evidence Act
Powers to regulate its procedure
Powers vested in Civil Court
POWERS & FUNCTIONS OF APPELLATE TRIBUNAL
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RIGHT TO LEGAL REPRESENTATION
As per Section 56 of the Act
Chartered Accountant
Cost Accountant
Company Secretary
Advocate
Are authorized to appear on behalf of applicant orappellant before Appellate Tribunal or a RegulatoryAuthority or Adjudicating Officer as the case may be
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RIGHT TO LEGAL REPRESENTATION
Thus only above professionals are authorised underthe Act to :✓ Represent a person (promoter) before any real
estate regulatory authority for registration of realestate project,
✓ Represent a person before real estate appellatetribunal.
✓ Represent a person before any other competentauthority for any other purpose under Real Estate(Regulation and Development) Act, 2016.
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Section Offence Penalty
59(1)
Contravention of S-3 i.e. failure to obtain registration.
Upto 10% of cost of project as per RERA.
59(2)
Contravention of any other provision of (other than S-3) or of rules made there under.
Punishable with aterm extended upto 3yrs. Or with finewhich may extendupto further 10% ofthe cost of project orwith both.
OFFENCES AND PENALTIES
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Section Offence Penalty
60
Provides false information or contravenes the provisions of sec.4 –Application for registration with RERA
Penalty upto 5% of cost of project.
61
Contravention of any other provisions of the Act.
Penalty upto 5% of cost of project.
OFFENCES AND PENALTIES
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Section Offence Penalty
62
Non Registration by Estate Agents or contraventions of section 9 and 10 regarding registration of estate agents with RERA
Rs.10,000/- during which such default continues which may cummulativelyextend upto 5% of cost of plot/flat/ Apt for which sale and purchase has been facilitated as per RERA.
63
Failure to comply with the orders of Authority by the Promoter
Penalty for every day during which the default continues, which may be cummulatively upto 5% of cost of project.
OFFENCES AND PENALTIES
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Section Offence Penalty
64
Failure to Comply with the Orders of Appellate Tribunal by Promoter
Punishable with imprisonment for a term which may extend upto 3 years or with fine for every day during which such default continues, which cumulatively extend upto 10% of the estimated cost of project.
65
Failure to comply with the orders of Authority by the Real Estate Agent.
Penalty for every day during which the default continues, which may be cummulatively upto 5% of cost of plot/flat as the case may be for which sale /purchase done.
OFFENCES AND PENALTIES
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Section Offence Penalty
66
Failure to Comply with the Orders of Appellate Tribunal by real estate agent
Punishable with imprisonment for a term which may extend upto1 year or with fine for every day during which such default continues, which cumulatively extend upto 10% of the estimated cost of flat/Apt as the case may be done.
67
Failure to comply with the orders of Authority by the Allottee.
Penalty for every day during which the default continues, which may be cummulatively upto5% of cost of plot/flat as the case may be for which sale /purchase done.
OFFENCES AND PENALTIES
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Section Offence Penalty
68
Failure to Comply with the Orders of Appellate Tribunal by the allottee.
Punishable with imprisonment for a term which may extend upto 1 year or with fine for every day during which such default continues, which cumulatively extend upto 10% of the estimated cost of flat/Apt as the case may be.
69
Offence committed by Company- Every officer at the relevant time and also the company shall be liable to pay the penalty.
Every Director officer or manager who is liable to discharge the duties shall be considered as committed the offence and shall be accordingly committed.
OFFENCES AND PENALTIES
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RERDA- 2016
• Compounding of offence by court by levying penalty as per Rules
Sec 70
• Adjudication on Sections 12,14, 18 and 19
Sec 71
• Factors to be considered for Adjudicaiton
Sec 72
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ARRANGEMENT OF CLAUSES
CHAPTER IXFINANCE, ACCOUNTS, AUDITS AND REPORTS73. Grants and loans by Central Government.74. Grants and loans by State Government.75. Constitution of Fund.76. Crediting sums realised by way of penalties to
Consolidated Fund of India or State account.77. Budget, accounts and audit.78. Annual report.
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CHAPTER IXFINANCE, ACCOUNTS, AUDITS AND REPORTS73. Grants and loans by Central Government.74. Grants and loans by State Government.75. Constitution of Fund.: Grants, Fees, Int and
applied for salaries, Allowances, Members and alladministrative expenses.
76. Crediting sums realised by way of penalties toConsolidated Fund of India or State account.
77. Budget, accounts and audit. : to be prepare by theRERA, Audited by Comptroller and AuditorGeneral of India –Annually and lay beforeParliament or the State Assembly.
78. Annual report. In such form and such items asmay be prescribed by the Appr.Govt.
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CHAPTER X –MISCELLANEOUS79. Bar of jurisdiction : Bar of Civil Court80. Cognizance of offences. : Not Court other than
Authoriy and Not court inferior toMetropolitian Magistrate or Judicial Magistrate ofFirst Class.
81. Delegation. Power other than Rules making maybe delegated to any officers for any purpose.
82. Power of appropriate Government to supersedeAuthority.
83. Powers of appropriate Government to issuedirections to Authority and obtain reports andreturns.
84. Power of appropriate Government to make rules.
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85. Power to make regulations with Authority86. Laying of Rules –Central Govt before Parliament
and for state Govt – before assembly for 30days.
87. Members, etc., to be public servants-U/s. 21 ofIndian Penal Code.
88. Application of other laws not barred: This is inaddition to and not derogation of theProvisions of any other law for the time being.
89. Act to have overriding effect.90. Protection of action taken in good faith.91. Power to remove difficulties.: Central Govt may
notify any order for 2 years to removedifficulties.
92. Repeal.. Mah. Hsg(R&D) Act, 2012
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U/S.10. FORMATION OF LEGAL ENTITY .
(MOFA, 1963) or U/s 11(4)(e) of RERA 2016
TO MANAGE COMMON SERVICES,
AREA & FACILITIES AFTER DISPOSING 51% UNITS BY PROMOTERS
Society or
Federation
Mah.Co-op.
Soc.Act, 1960
At Dy. Regr.
Company CondominiumOther
Legal Entity
Companies Act,
2013 at ROC
Mah. Aprt.
Own. Act, 1970
At Sub-Regr.
Association
u/SRA, 1860
Trust
u/BPT,1950
Firms
u/IPA, 1932
PSU & GU
u/Act of Pimt
Others
LLP etc.
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TRANSFER OF TITLE u/S 17 OF RERA
(1) The promoter shall execute a registeredconveyance deed in favour of the allottee alongwith the undivided proportionate title in thecommon areas to the association of the allottees orthe competent authority, as the case may be, andhand over the physical possession of the plot,apartment of building, as the case may be, to theallottees and the common areas to the association ofthe allottees or the competent authority, as the casemay be in a real estate project, and the other titledocuments pertaining thereto within specifiedperiod as per sanctioned plans as provided underthe local laws:
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SEC. 17 TRANSFER OF TITLE
Provided that, in the absence of any local law,conveyance deed in favour of the allottee or theassociation of the allottees or the competentauthority, as the case may be, under this section shallbe carried out by the promoter within three monthsfrom date of issue of occupancy certificate.(2) After obtaining the occupancy certificate andhanding over physical possession to the allottees interms of sub-section (1), it shall be the responsibilityof the promoter to hand over the necessarydocuments and plans, including common areas, to theassociation of the allottees or the competent
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SEC. 17 TRANSFER OF TITLE
authority, as the case may be, as per the local laws:
Provided that, in the absence of any local law, thepromoter shall handover the necessary documentsand plans, including common areas, the associationof the allottees or the competent authority, as thecase may be, within thirty days after obtaining theoccupancy certificate.
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REGISTRATION OF REAL ESTATE PROJECT
• CA to understand the various elements involved in the initial stage of the project till the completion of the project
• The title of the land and the various issues
• Review the Development Control Regulations FSI, TDR etc, approved and Proposed Plans
• Review Allotment letter, advertisement material, receipts, booking letter, web site contents, agreement for sale and the conveyance deed, agreements to be
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REGISTRATION OF REAL ESTATE PROJECT
• Designing the various policy documents and other compliances as may be required from time to time.
• Coordinate with the various professionals involved in the process of registration of the real estate project
• Upload the information on the website for registration of the project and attend the hearing if required to get the project registered with RERA.
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REGISTRATION OF REAL ESTATE PROJECT• (A) Providing the detail list of the documents
and information required for the registration of project.
• (B) Compilation of all the data and the documents provided by the promoter for the purpose of the registration.
• (C) Study and verification of the data and documents so as to check whether it meets requirements under the RERA.
• (D) Uploading of all the information provided by the promoter on the website of RERA.
• (E) Preparation of declaration in form B.
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PROJECT TRACKING DETAILS• (1) Uploaded Information after due
verification
• (2) Interact with other professionals like Architect, Engineer, Advocate and staff
• (3) Guide for RERA compliance
• (4) Review the project report details received from the architect, engineer and the Chartered Accountant.
• (5) Compile and verify last 5 years projects undertaken and completed or pending since 2012-13 onwards till 2016-17. The
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DRAFTING AND VETTING OF DOCUMENTS AS PER RERA REQUIRED
FOR REGISTRATION • (A) Draft allotment letter
• (B) Agreement for sale.
• (C) Conveyance Deed
• (D) Booking Letter.
• (E) Agreement with the Engineer and Architect
• (F) Advertisement material
• (G) All Standard documents required from customers.
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RETAINERSHIP SERVICES• (A) Providing the guidance to the
promoters for the timely compliances to be made as per RERA.
• (B) Verification and the certification of records as per the RERA on quarterly basis.
• (C) Quarterly status uploading of the Project on the MAHARERA portal.
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CONSULTANCY ON MANAGEMENT OF THE FUNDS AS PER RERA
• (A) Review and monitor the bank account in which 70% of the money received from the buyers is maintained.
• (B)Review each of the certificates issued by the architect, engineer and the chartered accountant issued for the purpose of withdrawal of the funds from the designated account.
• (C) Review the utilization of 100% funds received from the customers and facilitates to complete the accounts and submit for
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PREPARATION OF ANNUAL STATEMENT and AUDIT
• It will include the verification of various documents and records relating to following points.
• i). Details of the money received as the booking amount.
• ii). Withdrawals made accordingly are as per the guidelines given by the RERA.
• iii).All the agreements executed with the customers in for the particular project.
• iv).Whether amount collected from the particular project has been utilized for the
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All the efforts are made to cover the important
provisions of the law. The material contained
herein is not exhaustive, and contains certain
generalizations. The latest Provisions and
Notifications must be viewed. The presenter is not
responsible for any loss incurred on the actions
taken based on the material presented.
----------CA. Ramesh S. Prabhu
69
DISCLAIMER
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CA.Ramesh S. Prabhu, FCA, CISA(USA)
Let us be Partner in Nation Building
O9820106768/ [email protected]
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Thank you for Getting involved in the discussion!
Let us empower each one of us by sharingknowledge. Let us Innovate, Get involved & Solveissues collectively within four corners of Law.
CA RAMESH PRABHU ,
– 09820106768
EMAIL:[email protected]
CHAIRMAN
MAHARASHTRA SOCIETIES WELFARE ASSOCIATION, CO-OPTED MEMBER OF TASK FORCE FOR
NPOS & CO-OPS OF MAHARASHTRA, CONVENER TO PREPARE GUIDANCE NOTE ON AUDIT OF
DISTRICT AND STATE CO-OP BANKS –PUBLISHED BY PDC OF ICAI, CO-OPTED MEMBER OF CO-OP
COMMITTEE (MAHARASHTRA) OF WIRC OF ICAI.