Ten Individuals together who are desirous of forming a Society

To form a society, law mandates that 10 members minimum must show intention to be part of the society having same aim and objective to be achieved through the society.

Formation of a Provisional Committee in order to select Chief Promoter

Once a group of individuals have a desire to form a society the next step should be there must be a provisional committee of which everyone is part of.

A Name for the Society has to be selected

Formally when a chief promoter has been elected by the set of individuals among them, they have to then select a name for the co-operative society which they wish to form

Application has to be made to the Registration Authority

Once the name of the society is selected by the members then they have to make an application to the registration authority stating that they have a intention to formulate a society. The selected name of the society has to be submitted to the authority for its approval and registering authority has to confirm that name is in conformity with laws and issue a confirmation certificate to the members. Then when the members get their name approval from the authority it is valid for 3 months from the date of approval.

Entrance fees and share capital

Erstwhile the name approval comes from the concerned authority, the entrance fee and the share capital must be collected from the concerned prospective members to meet the statutory requirements under law.

Bank Account

Once the prescribed fee as well as the share capital is collect from the prospective members, then as per the instructions of the registering authority, the promoter has to open a bank account in the name of the society and deposit the mentioned fees and share capital in that account and a certificate has to be obtained from the bank to that effect.

Application for registration

On completion of the bank formalities, the promoter has to apply for the society formation to the registration authority and it has to be accompanied with set of documents, they are

• Form No. A in quadruplicate signed by 90% of the promoter members
• List of promoter members.
• Bank Certificate.
• Detailed explanation of working of the society.
• Proof of payment of registration charges.
• All of these testimonials have to be deposited at the time of applying for registration of the society to the registering authority and the authority after it is satisfied with the documents submitted to it has to apply its mind to whether or not to register the said society.

Registrar has to acknowledge

After the submission of the said documents has mentioned in step 7, the registrar of that municipal ward has to enter the particulars in the book called the “register of Application” which is generally specified in form B and give it a serial number to the application.
Then the registrar after perusal of the records submitted to him/her has to make a decision whether has to issue a certificate of registration or not and if there are any discrepancies noticed then he/she has to inform the members of the same and get it rectified if any.

Registration

The final step is that the registering authority after being satisfied with the documents, in case they are meeting the legal requirements: it will notify the registration of the society in the official gazette mentioned by the state or central government and should issue the registration certificate of the society and give it to the members of the society.

Conclusion

In India, Co-operative Societies were regarded as ideal instruments to motivate the people to come together and help themselves in the process of eliminating the unscrupulous middlemen making a huge profit at the expense of the society.
The main guiding factor if an individual or group of individuals want to form a society must be whether all the concerned members have common goal to achieve or not, it is important factor because only when they share common desire or intention then only society is desirable otherwise the whole purpose of forming a society will be defeated.