New 2022 Report Final

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Regn. No. : BOM/ W-R/ HSG / TC/ 11714/ 2002 - 2003 Dt.: 25/7/2002
Mahavir Nagar, Dahanukar Wadi, Kandivali (West), Mumbai -400 067.

NOTICE

All the members are requested to a end 21st Annual General Mee ng to be
held on Saturday 17th September, 2022 at 7:00 PM sharp, followed by Dinner,
at the Community Hall to transact the following business.

AGENDA

1. To read and confirm the minutes of the previous Annual General Mee ng held on 27th
March, 2022.

2. To welcome and confirm the admission of the incoming members.
3. To adopt audited annual accounts and report of the Auditors' thereon for the financial year

2021 ‐2022.
4. To Appoint Auditors for the Statutory audit of the society for the financial year2022‐2023.
5. To ra fy the legal ac on ini ated by the commi ee against some of the defaul ng

members and review of outstanding dues from the members.
6. To consider and approve the renova on of entrance lobby.
7. To consider any other ma ers with permission of the Chair.
All the members are requested to remain present at the mee ng.

For Panchsheel Gardens Co‐op. Hsg. Society. Ltd.

Mr. Kar k Shah
Hon. Secretary

Place: Mumbai
Date: 01/09/2022

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Email address: [email protected]

Managing Committee Members :

Sr. No. Flat No. Name Designation

1 G-103 Late Mr. Jagdish B. Nachane (upto 05/07/2022) Chairman

2 C-702 Mr.Devang Mody(from 28/07/2022) Chairman

3 B-504 Mr. Kartik P Shah Secretary

4 E-502 Mr. Rashmin B Khara Treasurer

5 B-301 Mr. Sanjay A. Gandhi Member

6 D-303 Mr. Himanshu D Muni Member

7 G 101 Mr. Gaurang Shah Member

8 H 703 Mr. Romit P. Dalal Member

9 E-704 Mr. Uday Gohil Member

10 B-604 Mrs. Gargi J. Shah Member

11 H- 601 Mrs. Sarabjit Chadha Member

12 Shop 07 Mr. Rajiv M .Shah Member

13 AC Shop 30Y Mr. Pinkesh A Zaveri Member

14 D-704 Mr. Sanjay C. Patel (from 28.07.2022) Member

Bankers :
Greater Mumbai Co‐op Bank Ltd. Kandivali West.
Mumbai District Central Co‐op Bank Ltd. Kandivali West.
Union Bank Of India Kandivali West .
New India Co. Op Bank Ltd. Kandivali West.
The Cosmos Co. Op. Bank Ltd. Kandivali West.
Saraswat Co.Op Bank Ltd. Kandivali West.

Auditors :
Jayawant Tandel & Co.
Chartered Accountants
Office Add. : Shop No. 5, Plot No. E2 / E4, S. N. Park,
Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

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Report of the Commi ee: P

We are pleased to present the 21st Annual Report along with the Audited Accounts for The Year Ended
31.3.2022.

Basis of prepara on of Financial Statement

The Financial statements are prepared under historical conven on. Revenues are recognized and
expenses are accounted on their accrual with necessary provisions for all known liabili es.

Surplus:
For the current financial year there is a Surplus of 6,04,219/‐ (Previous Year Surplus 5,48,779/‐)
which is appropriated to Income & Expenditure Account. Considering the size of the society, the
commi ee is happy that they were able to manage the resources op mally and be able to generate
moderate surplus to be u lized for the member's benefit.

We need to strengthen our resources to meet the capital expenditures for that necessary provisions
will be made from me to me.

Statutory Reserve Fund:
As per the requirements of Model Bye‐Laws 12(iv) and 148(a) read with Sec on 66(1)/(2) of the MCS
Act, 1960, we have transferred 2,01,406/‐ (Previous year 1,82,927/‐) to the Statutory Reserve
Fund.

Sinking Fund:
We have con nued to make the provision for sinking fund of 2,11,148/‐ calculated @ 10 paisa per Sq.
feet and we are in the process of building up further reserves in future to increase the financial health
of the society. The amount has been invested in the Fixed Deposit with the Co‐opera ve Banks to
match with the provisions being made. We have a deposit of 40,89,734/‐ (Previous Year 37,20,278/‐)
with Mumbai District Central Co‐Op Bank Ltd.

General Repair Fund:
We have made a provision for General Repair Fund in order to meet the expenses of our society like
major repairs, plastering of walls, pain ng of walls, terrace waterproofing, flooring, plumbing etc.

15,83,612/‐ (Previous Year 15,83,612/‐) have been transferred to Fund Account.

Investments:
The total Investment in Fixed Deposits stands at 283,10,406/‐ (Previous Year 326,58,505/‐) with
Greater Mumbai Co‐Op. Bank Ltd., Mumbai District Central Co Op Bank Ltd., The Cosmos Co‐op Bank,
The Saraswat Co‐op. Bank Ltd. and New India Co‐Op. Bank Ltd. As directed by the Hon. Members, we
started the process of transferring these fixed deposit to the Na onalized Bank. The requirements of
the bank for upda ng of KYC is under process.

Transfer Fees:
As decided by the members and in compliance with the Model Bye‐Laws, the transfer fees collected
from the members has been capitalised and credited to Reserve Fund Account.

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Security Services:
Over the period of last few years, we have worked on various concerns raised for our security and
which has also shown some improvements. In fact during the most tes ng mes of the COVID
Pandemic, our security has gone way beyond their call of duty and ensured they provide
uninterrupted services to our respected society members. However we are s ll keeping a constant
check on their day to day performance towards their du es and highlight if any lapses found and take
the remedial ac on for the same.

Arrears:
While we con nue to face the problems with the defaulters from members on both the side i.e.
residen al as well as shopping sec on, we have succeeded in our efforts in regards to the recovery to
a greater extent.

We have ini ated the legal ac on against the defaul ng members whose outstanding is more than
1 lakh on the date ac on was ini ated. We are pleased to inform the Hon. Members that we have

been able to recover . 7,94,661/‐ from the past dues of the members on whom the legal ac on for
recovery was ini ated.

Apex Body:
We have nominated 7 members as our representa ves in the Apex Body. The func oning of the apex
body is mainly:
‐ Management of Community Hall.
‐ Sports & Gym Ac vi es at Club House.
‐ Holding Func ons on various fes vals or occasions.
‐ Maintenance of Club House & Gardens.
‐ Conveyance of our society.

The Fes val Fund Contribu on which is collected from the members is transferred to Apex Body as
our Share of Expenditure.

Insurance:
We have con nued the insurance of our premises to the extent of 75.00 Crores (PreviousYear 75.00
Crores) with The New India Assurance Company Limited covering unforeseen circumstances like Fire,
Earthquake, Lightening, Storms, Explosion, Riots, etc. The breakup of Insurance is as under:

WINGS INSURED AMOUNT
A to H Wings 70,00,00,000
Including Plinth & Foundation
Shop 1 to 57 & AC Market 5,00,00,000
TOTAL 75,00,00,000

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Conveyance:
We are in process of obtaining the conveyance from the builders in favour of Panchsheel Gardens Co‐
op. Socie es Associa on. The dra of conveyance deed is under final discussion with builder, which
will be executed under the supervision of Advocate / Solicitor in due course.

Homage to Chairman Late Shri Jagdish Nachane
Recently, we are unfortunate to lose our beloved chairman Shri Jagdish Nachane, under whose lead
and guidance the commi ee was able to achieve its objec ves. He devoted approx. 21 years since
incep on of our society. We will always remember him for his hard and dedicated work for our society.

Highlights of other work of this year in nutshell

 Repairs in society as and where required.
 Contract given to private vendor for wet garbage.
 As decided earlier, we have con nued with Wing wise Security in Residen al and for shopping

areas, we have kept 3 guards.
 For the safety of the members, we have con nued the installa on of Fire Safety

Ex nguisher / Buckets in the premises of the Society in order to safeguard the Members
in case of emergencies. Also we have kept the key of the Terrace in the Locked glass box for
emergency exit to other wings.
 Con nuing further safety issue, we have be er quality CCTV Camera in the premises of the
Society.
 Celebra on on the occasions of Ganpa , Navratri, Holi, 15th August and 26th January
with the support of Apex Body.

Acknowledgements:
We take this opportunity to thank all the members for their support and co‐opera on. In the fast
changing stressful work environment, in which we are surrounded with, you have been a great
support to the Society. It has been our Endeavour to sensi se you about the sense of belonging and
ownership. The sense of belonging encourages the commi ees to conduct and manage the smooth
affairs. Indeed your contribu on and support is much appreciated. The senior members have most
humbly shared their wisdom. Let us honour the past and glorify the future. The commi ee seeks the
same co‐opera on in future and thanks the services and contribu on from all the members.

For & On Behalf Of Managing Commi ee

Sd/‐
Shri Kar k P. Shah
Hon. Secretary

5

Prof. Jayawant Damodar Tandel (O) : 022 27740545
(M) : 98923 94398
JAYAWANT TANDEL & CO.B.Com.,F.C.A.DISA(ISA)
CHARTERED ACCOUNTANTS
Email : jayawant_tandel@rediffmail.com

Office : Shop No. 5, Plot No. E2 / E4, S. N. Park, Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

FORM No. N‐2 [See Sec on 81 and rule 69 (3)
INDEPENDENT AUDITOR'S REPORT

To
The Members
The Panchsheel Gardens Co‐opera ve Hsg.society Ltd,
Mahavir Nagar, Kandivali West
Mumbai 400067.

Report on the Financial Statements as a Statutory Auditor
1. We have audited the accompanying financial statements of PANCHSHEEL GARDENS CO‐

OPERATIVE HOUSING SOCIETY LTD which comprise the Balance Sheet as at 31st March 2022 and
the Statement of Income & Expenditure Account for the year ended, and a summary of significant
accoun ng policies and other explanatory informa on incorporated in these financial statements
of the Society audited by us for the period 1st April 2021 to 31st March 2022.

Management's Responsibility for the Financial Statements
2. Management is responsible for the prepara on of these financial statements that give a true and

fair view of the financial posi on and financial performance of the society in accordance with
Accoun ng Principles generally accepted in India, the Maharashtra Co‐opera ve Socie es Act,
1960 & Rules there under. This responsibility maintenance of internal controls that were opera ng
effec vely for ensuring the accuracy and completeness of the accoun ng records, relevant to the
prepara on and presenta on of the financial statements that give a true and fair view and are free
from material misstatement, whether due to fraud or error.

Auditors Responsibility
3. Our responsibility is to express an opinion on these financial statements based on our audit. We have taken

into account the provision of the Act. The Accoun ng and Audi ng standards and ma ers which are
required to be included in the audit report under the provision of the Act and Rules made there under. Those
Standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment
of the risks of material misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the Society prepara on and fair
presenta on of the financial statements in order to design audit procedures that are appropriate in the
circumstances. An audit also includes evalua ng the appropriateness of accoun ng policies used and the
reasonableness of the accoun ng es mates made by management, as well as evalua ng the overall
presenta on of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion on the financial statements.

6

Prof. Jayawant Damodar Tandel (O) : 022 27740545
(M) : 98923 94398
JAYAWANT TANDEL & CO.B.Com.,F.C.A.DISA(ISA)
CHARTERED ACCOUNTANTS
Email : jayawant_tandel@rediffmail.com

Office : Shop No. 5, Plot No. E2 / E4, S. N. Park, Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

Opinion
6. In our opinion and to the best of informa on and according to the explana ons given to us, the said

financial statement together with the notes thereon give the informa on required as per the
Maharashtra Co‐opera ve Socie es Act 1960, in the manner so required and give a true and fair view in
conformity with the accoun ng principles generally accepted in India:
(I) In the case of the Balance Sheet, of the state of affairs of the society as at 31st March 2022, and
(ii) In the case of the Income & Expenditure Account, the excess of Income over Expenditure for the

year ended on that date.
Report on Other Legal and Regulatory Requirements

7. The Balance Sheet and the Income & Expenditure Account have been drawn up in accordance with the
provisions of the Maharashtra State Co‐opera ve Act, 1960.

8. We report that:
(a) We have obtained all the informa on and explana ons which, to the best of our knowledge and
belief, were necessary for the purpose of our audit and have found them to be sa sfactory.
(b) The transac ons of the Society, which have come to our no ce have been within the powers of the
Society.
(c) The returns received from the offices of the Society have been found adequate for the purposes of
our audit.

9. In our opinion, the Balance Sheet and Income & Expenditure Account comply with applicable
Accoun ng Standards.

10. We further report that:
(i) The Balance Sheet and Income & Expenditure Account dealt with by this report are in agreement
with the books of account and the returns and the give true & fair view of statements of affairs.
(ii) In our opinion, proper books of account as required by law have been kept by the Society so far as
appears from our examina on of these books.
(iii) For the year under audit, the society has been awarded “B” classifica on.

Date: 28 Auguest,2022 For JayawantTandel & Co
Chartered Accountants
Jayawant DTandel

(Proprietor)
Firm Regn.No.0126268W
Membership No.119494
Empanelment No:A-1-18034

Unique Document Iden fica on Number (UDIN) for this document is 22119494ARCYCV6157

7

Prof. Jayawant Damodar Tandel (O) : 022 27740545
(M) : 98923 94398
JAYAWANT TANDEL & CO.B.Com.,F.C.A.DISA(ISA)
CHARTERED ACCOUNTANTS
Email : jayawant_tandel@rediffmail.com

Office : Shop No. 5, Plot No. E2 / E4, S. N. Park, Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

PART ‐ A‐PANCHSHEEL GARDENS CO ‐ OPERATIVE HOUSING SOCIETY LTD.
The statutory audit of the above the society has been carried out by me; for the period from 01st April‐2021 to
31st March 2022.I have checked the necessary books of accounts and available records & verbal as well as
wri en informa on given by the Managing Commi ee of the Society at the me of Audit.
Financial statements of account are duly cer fied, subject to the Remarks annexed herewith are forming part of
the statutory Audit Memo, which shows the correct financial posi on of said society.
Registra on Number & Registered Office OF society:
Registra on No. Of Society is BOM/W‐R/HSG/TC/11714/2002‐ 2003DT.25/7/2002 and Registered office &
administra ve Office of society is situated at Mahavir Nagar Kandivali West Mumbai – 400067.
Membership:
There are 296 Members registered as on 31/03/2022.The changes in respect of addi on and Resigna on of the
members are duly noted during the year. Society prepared I & J register in specific format given by Co‐ opera ve
society Rules. Members list are tallied with the balance sheet And share Holders Register.
Internal Control System and management:
Managing Commi ee is taking necessary care of internal Controls systems of the society. Society made its
books of account wri ng manually as well as computerized. Society has one qualified personwho takes care of
account wri ng and transac ons of the society.
Internal & Statutory Audit of Society:
As per given to understand by office bearers of the society, the societyis not required to carry out internal
Audi or the Co –Opera ve year 2021‐22.
Mee ng of Society:
The Annual General Mee ng of the society for the co‐opera ve year 2020‐2021 was held on 27.3.2022.
Statutory Returns:
The Society has filed Mandatory Return as per provision sec on 79 of MCS Act,1960 with registrar of co‐
opera ve Socie es within due me and same way Income Tax Return and Professional tax Return have also
been filed with respec ve authori es.

Audit Classifica on:
There are some minor discrepancies no ced at the me of Audit, a er taking overall financial posi on,
Internal Control, growth in the ac vi es of the society.
We have found the society is doing well. A er looking the progressive ac vi es of the society we are in the
opinion to give “B” Audit Class to the Society for the co – opera ve years 2021‐22

Date: 28 Auguest,2022 For JayawantTandel & Co
Chartered Accountants
Jayawant DTandel

(Proprietor)
Firm Regn.No.0126268W
Membership No.119494
Empanelment No:A-1-18034

Unique Document Iden fica on Number (UDIN) for this document is 22119494ARCYCV6157

8

Prof. Jayawant Damodar Tandel (O) : 022 27740545
(M) : 98923 94398
JAYAWANT TANDEL & CO.B.Com.,F.C.A.DISA(ISA)
CHARTERED ACCOUNTANTS
Email : jayawant_tandel@rediffmail.com

Office : Shop No. 5, Plot No. E2 / E4, S. N. Park, Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

PART – B
ANALYSIS OF BALANCE SHEET

A) Paid up Share Capital: Rs 74,500/
Society has allo ed 1490shares to members and each members have been allo ed share of Rs.50 each by the
society. The Share Amount Is Tallied with the Share Register.
B) Entrance Fees:Rs 55,500/‐
The Entrance Fees of the society stands at Rs. 55,500for the year and the society has properly recorded the
same in books of account.
C) Current Liabili es & Provisions:Rs. 1,613,929/‐
During current year current liabili es and provisions has been Decreased from Rs. 21,98,137/‐to Rs.
1,613,929/‐
D) Income & Expenditure A/C surplus Rs. 6,04,219/‐
During the period under audit surplus has been Increased from Rs.5,48,779/‐to Rs.6,04,219/‐
E) Cash and Bank Balance:

Par culars 31/03/2021 31/03/2022 Increase / (decrease)
Cash Rs. 9,904/‐ Rs. 6,480/‐ Rs. (3,424)
Bank Balance Rs. 6,91,376/‐ Rs. 1,02,23,601/‐ Rs. 95,32,225/‐
Total Rs. 7,01,280/‐ Rs. 1,02,30,081/‐ Rs. 95,28,801/‐

Cash balance & bank Balance is tallied with cash &Bank Book and duly reconciled.
F) Investment in Fixed Deposits:
During the current year FD investment of the society has been decreased from Rs.3,26,58,505/‐to Rs.
2,83,10,406/‐ The FDs matured with New India Co Op Bank are yet to be renewed and balance has been lying in
the savings bank account.
G) Members Receivable: Rs. 15,61,983/‐

During the year Members Receivables have been decreased from Rs.19,94,222/‐ to Rs.15,61,983/‐

This amount is a subject to confirma on of members concerned if any.
H) Fixed Assets: Rs.28,51,99,227/‐
During the year WDV of the Fixed Assets has been decreased from Rs. 28,52,36,813/‐ to Rs. 28,51,99,227 /‐
due to Deprecia on Provision of Rs. 37,586/‐
We are thankful to the commi ee Members and manager of the society for their kind and extended co‐
opera on during the course of Audit.

Date: 28 Auguest,2022 For JayawantTandel & Co
Chartered Accountants
Jayawant DTandel

(Proprietor)
Firm Regn.No.0126268W
Membership No.119494
Empanelment No:A-1-18034

Unique Document Iden fica on Number (UDIN) for this document is 22119494ARCYCV6157

9

Prof. Jayawant Damodar Tandel (O) : 022 27740545
(M) : 98923 94398
JAYAWANT TANDEL & CO.B.Com.,F.C.A.DISA(ISA)
CHARTERED ACCOUNTANTS
Email : jayawant_tandel@rediffmail.com

Office : Shop No. 5, Plot No. E2 / E4, S. N. Park, Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

PART – C:
GENERAL REMARKS & SUGGETIONS

1) As informed to us the various registers as prescribed by the Act/Rules/Bye‐laws are being
maintained and updated periodically.
The Managing Commi ee has informed to the members to submit the Nomina on forms
from me to me. However, it is observed that few of the members have not submi ed the
Nomina on forms.

2) The society should submit Audit Rec fica on Report if any in “O” form within three months
from the date of audit.

3) It is advised that the managing commi ee should supervise the upda on of various statutory
Registers including property and dead stock Registers.

4) The society is advised to file 6 types of Mandatory Returns within three months from the Audit
date or before submission of audit Rec fica on Report as per provision of sec on 79(1) (a) of
MCS Act, 1960.

5) It is no ce that during the period under audit 6 managing commi ee mee ngs were held.
The managing commi ee members are advised to con nue to hold at least one mee ng in
month regularly.

6) Balances of Members Outstanding, Deposits and Current Liabili es are taken as per Books of
Accounts and the same are subject to reconcilia on or confirma ons if any.

We are once against thankful to the managing commi ee of the society for their kind co‐
opera on and hope Society will take necessary steps for the development of the Society.

Date: 28 Auguest,2022 For JayawantTandel & Co
Chartered Accountants
Jayawant DTandel

(Proprietor)
Firm Regn.No.0126268W
Membership No.119494
Empanelment No:A-1-18034

Unique Document Identification Number (UDIN) for this document is 22119494ARCYCV6157

10

Prof. Jayawant Damodar Tandel (O) : 022 27740545
(M) : 98923 94398
JAYAWANT TANDEL & CO.B.Com.,F.C.A.DISA(ISA)
CHARTERED ACCOUNTANTS
Email : jayawant_tandel@rediffmail.com

Office : Shop No. 5, Plot No. E2 / E4, S. N. Park, Sector‐3, Belpada, Opp. Kharghar Railway Sta on, Kharghar, Navi Mumbai ‐ 410210

NAME OF THE SOCIETY: THE PANCHSHEEL GARDENS CO‐OPERATIVE HOUSING SOCIETY LTD.
YEAR UNDER AUDIT: 2021‐22

SCHEDULE TO THE AUDIT MEMO IN THE FORM PRESCRIBED BY THE REGISTRAR
(Vide Rule No. 69(6)

Schedule I Re : Transac on involving infringement NIL
of the Act, Rules and the Bye‐Laws.
Schedule NIL
II Re : Par culars of sums, which ought to
Schedule have been but have not been brought NIL
Schedule into account. NIL
Schedule NIL
Schedule III Re : Improper and Irregular payments. NIL
III‐A Re : Irregular in the realiza on of money.
IV Re : Doub ul and bad debts.
IV‐ A Re : Movable and immovable Property and

others assets considered doub ul of
recovery.

For Jayawant Tandel & Co
Chartered Accountants

Jayawant D. Tandel
Proprietor
Membership No.:119494
Firm No: 0126268W
Place: Mumbai
Date: August28,2022
Empanelment No: A‐1‐18034

Unique Document Iden fica on Number (UDIN) for this document is 22119494ARCYCV6157

11

PANCHSHEEL GARDENS CO-OPERATIVE HOUSING SOCIETY LIMITED.

( Registration No: Bom / W-R / HSg / TC / 11714 / 2002-2003 Dtd. 25/7/2002 )

B A L A N C E S H E E T A S A T 31st M A R C H, 2022

Previous Year LIABILITIES Annexure Current Yea r Previous Year ASSETS Annexure Current Yea r
Rs Rs Rs
Rs Rs A
1,00,000.00 B 2,88,77,210.00
74,500.00 Share Capital C 2,56,534.00
54,100.00 D
Authorised: 3,52,95,176.00 Investments 15,61,982.55
7,23,900.00 6,79,381.00
2000 Equity Shares of Rs. 50.00 each 1,00,000.00

Issued Subscribed & Paid Up : 2,68,520.00 Deposits

1490 Shares of Rs. 50.00 each 74,500.00

Reserve Fund 19,94,222.35 Members Receivables

Entrance Fees 55,500.00

Share Transfer Fees 8,35,525.00 4,57,132.00 Advances

28,49,99,920.00 Members Contribution Towards Land & Building 28,49,99,920.00 28,52,36,813.00 Fixed Assets E 28,51,99,227.00

6,00,000.00 Members' Deposit for Car Parking 6,75,000.00

43,21,253.51 Sinking Fund 48,22,816.51 9,904.00 Cash & Bank Balances 6,480.00
2,14,57,573.86 Cash on Hand
1,90,51,505.86 General Repair Fund 5,95,855.69 Cash At Banks 30,69,925.69
14,27,561.00 50,619.50 Greater Bombay Co.Op. Bank Ltd. 71,07,294.50
12,26,155.00 Statutory Reserve Fund 31,54,216.00 17,539.00 New India Co- Op.Bank
27,362.00 Corporation Bank 18,067.00
33,25,016.00 Apex Body Fund 2,12,000.00 Mumbai Dist. Central Co.op.Ban k 28,314.00
-

1,23,200.00 Training & Education Fund
P 1,02,30,081.19

126,62,380.00 Festival Fund 2,78,580.00

21,98,137.30 Current Liabilities & Provisions F 16,13,928.50
Income & Expediture Account
65,93,075.87 71,97,294.87
60,44,296.87 Balance as per last Balance Sheet 6,04,219.00 32,68,04,415.74
5,48,779.00 Surplus /( Deficit ) as per Inc & Exp A/c
32,39,53,143.54 32,68,04,415.74
32,39,53,143.54 - -

As Per Our Audit Report Of Even Date For PANCHSHEEL GARDENS CO-OP.HSG. SOCIETY LIMITED
For Jayawant Tandel & Co.
Chartered Accountants

Shri.Devang Mody Shri. Kartik Shah Shri. Rashmin Khara

Jayawant D Tandel

Proprietor

Firm Regn. No. 0126268W Chairman Secretary Treasurer
Membership No. 119494

Empanelment No:A-1-18034 Mumbai, Dated 28 th August 2022

Mumbai, Dated 28 th August 2022

Unique Document Identification Number (UDIN) for this document is 22119494ARCYCV6157 

PANCHSHEEL GARDENS CO-OPERATIVE HOUSING SOCIETY LIMITED.

I N C O M E & E X P E N D I T U R E A C C O U N T F O R T H E Y E A R E N D E D 31st M A R C H 2022

Previous Yea r EXPENDITURE Annexure CurrentYear Previous Yea r INCOME Annexure Current Year
Rs
Rs Rs Rs
1,32,80,009.00
28,53,074.00 To Society Maintenance Charge s G 32,76,667.00 1,21,78,563.00 By Members Contribution H
1,05,028.00
4,50,500.00 To Salary And Bonus 4,21,500.00
6,37,657.00
33,50,344.00 To Security Charges 35,76,675.00 By Interest Income 51.00

36,539.00 To Stationery and Printin g 23,607.00 Interest on S.B.A/c 1,40,22,745.00
-
508.00 To Staff Welfare 100.00 84,876.00 Greater Bombay Co-op Bank 57,291.00

7,53,790.00 To Electricity Charges 8,70,125.00 11,018.00 New India Bank 46,308.00

14,054.00 To Telephone Charges - 916.00 Mumbai Dist Cop Op Bank 901.00

2,27,892.00 To Covid Period Supplies & Medicines 1,24,236.00 391.00 Union Bank of India 528.00

4,63,120.00 To Insurance Charges 4,63,139.00

2,520.00 To Bank Charges 960.00 By Interest on F.D.A/c

328.00 To Conveyance 1,020.00 1,06,422.00 Cosmos Co Op Bank Ltd 96,520.00

1,326.00 To Subscription and Membership 826.00 89,108.00 Greater Bombay Co-op Bank 78,674.00

35,400.00 To Auditors Remuneration 30,000.00 1,29,801.00 Saraswat Bank 1,19,124.00

250.00 To Postage and Courie r 350.00 9,11,527.00 New India Co Operative Bank 3,43,339.00

69,720.00 To Legal & Professional Fees 1,06,217.00

24,51,952.00 To Property Ta x 24,51,952.00 - By Dividned

11,792.00 To Meeting Expenses P 9,750.00

2,16,483.00 To Lift Renovation Expenses13 27,500.00

46,439.00 To Depreciation 37,586.00

125.00 To Income Ta x 150.00

15,83,612.00 To Transfer to General Repair Fund 15,83,612.00

2,11,148.00 To Transfer to Sinking Fund 2,11,148.00

1,82,927.00 To Transfer to Statutory Reserve Fun d 2,01,406.00

5,48,779.00 To Excess of Income Over Expenditure 6,04,219.00

1,35,12,622.00 1,40,22,745.00 1,35,12,622.00

As Per Our Audit Report Of Even Date -

For Jayawant Tandel & Co. For PANCHSHEEL GARDENS CO-OP.HSG. SOCIETY LIMITED

Chartered Accountants

Shri.Devang Mody Shri. Kartik Shah Shri. Rashmin Khara

Jayawant D Tandel

Proprietor

Firm Regn. No. 0126268W Chairman Secretary Treasurer
Membership No. 119494

Empanelment No:A-1-18034 Mumbai, Dated 28 th August 2022

Mumbai, Dated 28 th August 2022

Unique Document Identification Number (UDIN) for this document is 22119494ARCYCV6157

As at 31.3.2021 Grouping of Accounts P

52,300.00 Reserve Fund As at 31.3.2022
1,800.00 Entrance Fees
Addition during the Year 54,100.00
54,100.00 1,400.00
55,500.00
5,96,650.00 Share Transfer Fees
- Share Money Received 7,23,900.00
Transfer Premium 5,000.00
1,27,250.00
7,23,900.00 1,06,625.00
8,35,525.00
7,50,000.00 Members' Deposit for Car Parking
(1,50,000.00) (Payments)/ Receipts during the year 6,00,000.00
75,000.00
6,00,000.00 Sinking Fund
Opening Balance 6,75,000.00
38,83,274.51 Add: Appr. From Current year
2,11,148.00 Add: Interest for the Year 43,21,253.51
2,26,831.00 2,11,148.00
General Repair Fund 2,90,415.00
43,21,253.51 Opening Balance 48,22,816.51
Add: Appr. From Current year
1,60,45,546.86 Add: Electric Meter Room Maint. Charges 1,90,51,505.86
15,83,612.00 Add: Contribution from Transfers 15,83,612.00
7,40,000.00 Add: Accr. Interest for the Year
95,000.00 Less: Utilized during the year -
7,24,292.00 70,000.00
(1,36,945.00) Lift Renovation Fund 7,52,456.00
Opening Balance
1,90,51,505.86 Less: Utilized during the year -
2,14,57,573.86
2,53,472.00
(2,53,472.00) -
-
- -

10,43,228.00 Statutory Reserve Fund 12,26,155.00
1,82,927.00 Add: Appr. From Current year 2,01,406.00
14,27,561.00
12,26,155.00
33,25,016.00
34,20,326.00 Apex Body Fund 10,000.00
50,000.00 Add: Addition During the Yea r
Less: Utilsed During the Year (1,80,800.00)
(1,45,310.00) 31,54,216.00
33,25,016.00
1,23,200.00
34,400.00 Training & Education Fund 88,800.00
88,800.00 Add: Addition During the Yea r
1,23,200.00 2,12,000.00
Festival Fund
3,18,780.00 Opening Balance 6,62,380.00
5,20,800.00 Add: Collection during the year 5,20,800.00
(1,77,200.00) Less: Contribution Paid to Apex Body (9,04,600.00)
6,62,380.00 2,78,580.00
14

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ANNEXURES TO BALANCE SHEET AS ON 31st MARCH, 2022

Previous Year Current Year `

Annexure A Investment (at Cost)

1,100.00 One Share of Mumbai Disctrict Co op Hsg Federation Ltd 1,100.00

Fixed Deposit with Banks

Against Sinking Fund

37,20,278.00 Mumbai District Central Co op Bank 40,89,734.00

Against General Repair Fund

1,48,45,254.00 The Greater Mumbai Co op Bank Ltd. 1,45,84,694.00

13,69,360.00 The Greater Mumbai Co op Bank Ltd. (Car Parki n 14,16,219.00

89,61,212.00 New India Co-Op Bank Ltd 43,42,077.00

15,92,566.00 Cosmos Co-Op Bank Ltd 15,92,566.00

21,69,835.00 Saraswat Co Op Bank 22,85,116.00 2,83,10,406.00

Accrued Interest on Fixed Deposits

19,406.00 Accrued Interest on Sinking Fund FD 68,643.00

3,25,561.00 Accrued Interest on Greater Bank FD (Repair Fun 1,50,970.00

14,087.00 Accrued Interest on Greater Bank FD ( Car Parkin 38,035.00

22,15,938.00 Accrued Interest on New India Bank FD 1,68,679.00

35,807.00 Accrued Interest on Cosmos Bank FD 1,22,675.00

24,772.00 Accrued Interest on Saraswat Bank FD 16,702.00 5,65,704.00

3,52,95,176.00 2,88,77,210.00
Annexure B Deposits
1,64,827.00
1,64,827.00 Water Connection Deposit 89,960.00
89,960.00 Adani Electricity Mumbai Ltd 1,747.00
13,733.00 Tata Powe r
2,56,534.00
2,68,520.00
Annexure D Advances 1,29,080.00
32,000.00
1,29,080.00 Other Advances
- Staff Loans 1,92,355.00
3,25,946.00
1,62,840.00 Prepaid Lift Maint Expenses
1,65,212.00 TDS 6,79,381.00
4,57,132.00
Annexure E Fixed Assets 28,49,99,920.00
28,49,99,920.00 Land & Buildinbg

20,808.00 Furniture & Fixtures 18,727.00 16,854.00
(2,081.00) Less : Depreciation @10% 1,873.00

19,920.00 Computer 11,952.00 7,171.00
(7,968.00) Less : Depreciation @40% 4,781.00

3,916.00 Printer 3,329.00 2,830.00
(587.00) Less : Depreciation @15% 499.00

2,38,688.00 CCTV Camera 2,02,885.00 1,72,452.00
(35,803.00) Less : Depreciation 30,433.00 28,51,99,227.00
28,52,36,813.00

15

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ANNEXURES TO BALANCE SHEET AS ON 31st MARCH, 2022

Previous Year ` Current Year `

Annexure F Current Liabilities & Provisions

38,500.00 Salary Payable 29,500.00

56,526.00 House Keeping Expenses Payable 80,893.00

2,83,968.00 Security Charges Payable 2,65,378.00

76,090.00 Electricity Charges Payable 59,435.00

3,59,688.00 Water Charges Payable 3,16,249.00

32,400.00 Audit Fees Payable 27,000.00

70,320.00 Professional Fees Payable 6,000.00

20,207.00 TDS Payable 20,374.00

1,00,000.00 Retention Money of Rangshalaka (Waterproofing & Painting) 1,00,000.00

4,65,000.00 Deposit from Members towards Renovation 4,60,000.00

2,34,982.30 Credit Balance of Members 1,45,068.50

95,000.00 Other Liabilites 94,183.00

- Repairs and Maintenance Exp Payable 7,573.00

3,63,331.00 Festival Exp Contribution Payable to Apex Body -

2,125.00 Income Tax Payable 2,275.00

21,98,137.30 16,13,928.50

Annexure G Society Maintenance Expenses

56,542.00 Lift Maintenance 2,41,406.00

5,52,619.00 Repairs and Maintenance 7,21,965.00

12,69,161.00 Water Charges 11,04,005.00

62,290.00 Intercom Maint. Charges 1,38,100.00

8,862.00 Computer Maint Expenses 7,874.00

71,685.00 Pest Control Expenses 95,580.00

41,501.00 Fire Protection Maint Expenses 30,191.00

37,500.00 CC Tv Maint Expenses 35,253.00

7,52,914.00 Housekeeping Expenses 9,02,293.00

28,53,074.00 32,76,667.00

Annexure H Members Contribution

21,27,780.00 Property Taxes 26,18,132.00

59,38,200.00 Service Charges 59,38,200.00

14,53,200.00 Water Charges 14,53,200.00

50,580.00 Other / Additional Charges 5,86,054.00

2,11,148.00 Sinking Fund 2,11,148.00

15,83,612.00 General Repair Fund 15,83,612.00

1,05,972.00 Insurance Charges 1,05,972.00

21,141.00 Intercom Maint Collection 21,384.00

1,38,200.00 Car Parking charges 1,37,400.00

1,22,400.00 Scooter Parking charges 1,16,800.00

1,06,880.00 Non Occupancy Charges 95,970.00

1,61,450.00 Interest On Arrears / Penalty 3,10,637.00

1,58,000.00 Shifting Charges 1,01,500.00

1,21,78,563.00 1,32,80,009.00

16

PANCHSHEEL GARDENS CO-OPERATIVE HOUSING SOCIETY LTD. P

Sch C Rs
5,53,784.00
DUES FROM MEMBERS AS AT 31st MARCH,2022
80.00
Sr No. NAME OF MEMBERS Flat /Shop Society Chages Lift Renovation 60.00
45,066.50
- 78,776.00
14,625.00
1 Mr. Rajendra Laxman Mahadi k B-102 5,22,756.00 31,028.00 5,16,739.00

2 Mr. Kalpesh M Sheth C-201 80.00 1,44,759.60

3 Mr.Himanshu D.Muni D-303 60.00 2,08,092.45

4 Mr. Kolath Pillai Suresh E-303 25,135.50 5,525.00
5 Mrs.Nirmala V. Shirasi E-402 14,406.00

6 Mr.Kanaiyalal Navinchandra Kachali a F-304 78,776.00

7 Mr. Shashikant Satyanarayan Sharma G-402 1842.00
G-503 12783.00
8 Ms.Nipa Sharad Damani

9 Mrs. Savitri Gupta H-104 4,54,689.00 62,050.00

10 Mrs. Bindu Rajesh Choksi SAC30L 26,930.00
11 Mr. Kishoresingh P. Rajpurohit SAC30N 1,00,718.60
12 Mrs.Aruna P Ganga r
13 Mrs Kirtida Pravin Patel SAC30P 4,824.00
SAC30R 12,287.00

14 Mr. Vinod P Acharya SHOP03 453.00
SHOP17
15 Mr.Rishi M Chandnani SHOP22 20.00
SHOP32 6,603.00
16 Mr. Madhavan M.She SHOP33 21,294.20
SHOP35 20,304.00
17 Mrs.Geetadevi R.Soni SHOP39 11,850.00
18 Mr.Ganesh Ramprakash Soni SHOP41 80,589.00
19 Mr. Dineshkuamr D. Shakhla SHOP49 11,850.00
20 Mr.Mukesh B. Jain SHOP50 43,322.25
21 Mrs Anara Pandey SHOP56 9,755.00
22 Mr. Nagin L. Kharvi 2,048.00
23 Mr.Suryaprakash Raisaheb Singh
24 Mr. Mohan Dhodia 4
25 Sundry Debit Balances

TOTAL DUES 14,63,379.55 98,603.00 15,61,982.55

17

P

PANCHSHEEL GARDENS CO-OPERATIVE HOUSING SOCIETY LTD.

ADVANCE PAYMENT/ CREDIT BALANCES OF MEMBERS AS AT 31st MARCH,2022

Sr No. NAME OF MEMBERS FLAT NO Society chgs Rs
5,000.00
1 Mr. Naresh G Shah A-402 5,000.00 56,488.00

2 Mr. Prashant A. Parekh A-604 56,488.00 200.00
11,445.50
3 Mr. Divyesh P. Dalal C-501 200.00 10,845.50
15,068.50
4 Mr.Harish Kantilal Jobanputra D-101 11,445.50
150.00
5 Mr.Harish K.Jobanputra D-103 10,845.50 57.00
786.00
6 Mr.Parag Mahendrakumar Bajaria D-602 15,068.50 1,285.50
4,584.00
7 Mr. Suresh M. Rathod E-401 150.00 3,000.00
1,042.00
8 Smt. Chhaya Hitesh Vora E-404 57.00 8.00
6.00
9 Mr Ashish Kantilal Mehta E-603 786.00 14,811.00
5,089.00
10 Mr Ashish Kantilal Mehta E-604 1,285.50 3,099.00
31.00
11 Mr.Rajendra Puthankar. E-702 4,584.00 540.00
988.00
12 Mr.Priyesh R.Panchal E-703 3,000.00 10,541.00
3.50
13 Mrs.Ramaben G.Thobhani F-403 1,042.00 1,45,068.50

14 Mr.Devashish Gangul y G-102 8.00

15 Mr.Vinit Dhirubhai Vora G-602 6.00

16 Mr.Jatin Chandrakant Parikh H-201 14,811.00

17 Mr.Nimesh N.Panchigar H-402 5,089.00

18 Smt. Bhavini Jayesh Shah H-404 3,099.00

19 Mr Romit P Dalal H-703 31.00

20 Mr.Vinodrai V.Gaglani SAC30C 540.00

21 Mrs. Hirji B Patel SHOP02 988.00

22 Mrs.Rita Bharat Maniar SHOP37 10,541.00

23 Sundry Credit Balances 3.50

1,45,068.50

Outstanding Ratio CurrentYea r PreviousYea r
Resi 77% 74%
Shops 23% 26%

18

P

19

P

213140 30203218164 16.10.2020 7,32,678 16.09.2022 8,17,568 5.75%
405299 30205233780 26.10.2021 5,82,537 26.11.2022 6,17,125 5.35%
405300 30205233791 26.10.2021 5,82,537 26.11.2022 6,17,125 5.35%
460730 30201070476 18.11.2021 10,02,311 18.12.2022 10,61,668 5.35%
404960 30203723685 26.11.2021 18,00,336 26.12.2022 19,06,952 5.35%
368470 10216161222 22.11.2021 7,08,269 22.12.2023 7,95,236 5.60%
461052 10216178735 27.12.2021 9,23,469 27.01.2024 10,37,019 5.60%
398086 10216264681 13.01.2022 7,87,469 13.02.2024 8,84,296 5.60%
419108 30201317315 11.04.2021 12,10,548 11.05.2022 12,87,727 5.75%
436663 30208229103 15.03.2021 17,26,364 46days‐AutoRenew 4.00%
471457 30209039165 30.04.2021 21,53,457 46days‐AutoRenew 4.00%
485074 30209460061 31.03.2021 23,74,719 46days‐AutoRenew 4.00%
1,45,84,694

30205421071 27.01.2022 14,16,219 27.02.2023 15,00,307 5.35%

1147525 006633 28.06.2021 1,67,046 28.12.2022 1,80,506 5.20%
1147526 006632 30.06.2021 2,80,736 31.12.2022 3,03,358 5.20%
1147510 007463 20.07.2021 2,79,291 20.01.2023 3,01,796 5.20%
1147549 006637 24.07.2021 1,79,323 24.01.2023 1,93,773 5.20%
1237503 004414 19.09.2021 3,40,276 19.09.2022 3,58,849 5.35%
1237505 004415 21.09.2021 2,05,285 21.09.2022 2,16,490 5.35%
1237504 004416 26.09.2021 1,55,595 26.09.2022 1,64,088 5.35%
1149068 006996 19.11.2020 2,84,167 19.11.2022 3,17,598 5.60%
1238897 007937 31.03.2022 1,57,793 31.03.2023 1,66,242 5.25%
1238898 007936 31.03.2022 1,57,793 31.03.2023 1,66,242 5.25%
1236464 007423 27.03.2022 1,94,790 27.03.2023 2,05,220 5.25%
1236466 007424 29.03.2022 2,05,389 29.03.2023 2,16,386 5.25%
1236372 007332 29.03.2022 1,82,385 29.03.2023 1,92,150 5.25%
1304502 006261 30.03.2022 2,09,042 30.03.2023 2,20,235 5.25%
1304501 006262 30.03.2022 1,98,788 30.03.2023 2,09,432 5.25%
1304504 006257 31.03.2022 1,65,561 31.03.2023 1,74,426 5.25%
1304505 006259 31.03.2022 2,65,263 31.03.2023 2,79,466 5.25%
1304503 006260 31.03.2022 3,11,211 31.03.2023 3,27,874 5.25%
19 1304510 008033 30.03.2022 1,50,000 30.03.2023 1,58,031 5.25%

40,89,734

20

P

15,92,566 17,36,240
15,92,566

06.12.2021 19,30,966 06.03.2024 22,44,826 6.75%
30.06.2021 24,11,111 30.09.2023 27,99,108 6.50%

43,42,077

06.02.2022 7,61,705 06.03.2023 8,06,149
06.02.2022 7,61,706 06.03.2023 8,06,150
06.02.2022 7,61,705 06.03.2023 8,06,149

22,85,116
2,83,10,406

21

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Minutes of 20th Annual General Mee ng held on 27th March 2022.

The Twen eth Annual General Mee ng of the Panchsheel Gardens Co‐opera ve Housing Society
Limited was held on Sunday, 27thMarch 2022 at Panchsheel Gardens Community Hall.

As there were only 15 members present for the mee ng at 10.00 a.m., the mee ng was adjourned for
half an hour and the mee ng started at 10.30 a.m.

Total 58 members were present in the mee ng.
ShriJ. B. Nachane, Chairmangreeted all the members and delivered the Welcome speech.
ShriKar k Shah, Secretary started the proceedings of the mee ng.
Item No. 1: To read the minutes of the last AGM of the Societyheld on 7th March 2021.
Shri Kar k Shah, Secretary requested the house to take as read the minutes of the mee ng of the last
AGM of the society. As the copy of Minutes has already been circulated along with no ce and report, Secretary
offered for comments/sugges ons if any.
There was discussion about Item 6 in the minutes of last year, regarding what was done about legal
no ce given to those who have done unauthorized changes in the flat. Shri Devang Mody, Commi ee member
made it clear that ac on has been ini ated where structural changes were done.
The house accepted the same and passed the following resolu on.
"Resolved that the minutes of 19th AGM of the society held on 7th March, 2021which were circulated to the
members along with the 18th Annual Report be and are hereby confirmed."
Proposed by: Shri Chintan J.ShahF‐401
Seconded by: Shri Suvajit SamantaC‐503
Item No. 2: To welcome and confirm the admission of new members admi ed during the year.
Incoming members were greeted by Mrs Gargi Shah, Commi ee member. She stated that 8 flats/shops were
transferred this year. The New members admi ed during the year are:

22

P

She welcomed all the new members and requested them to offer their co‐opera on in maintaining harmony of the
society.The members were duly admi ed by the house.
Proposed by: Shri Nilesh Shah C‐401
Seconded by: Shri Mehul Parmar C‐402

Item No. 3: To receive from the commi ee, the report of the preceding year's working together with the
statement of accountsand auditor's report for the financial year ended on 31.03.2021.
Shri Sanjay Gandhi, Commi ee member presented the Accounts of the society along with the Annual report. He
requested the members to go through the accounts and to offer comments / sugges ons as the copies of the
Statement of Accounts have already been circulated. He informed the highlights and moderate surplus in interest
income.
There was discussion to levy penalty on those who are repeatedly absent in the AGM.If the member is out of
sta on, they can take prior permission for their absence.
Proposed by: Shri Rajesh V.GandhiD‐301
Seconded by: Shri Ajit Morzaria D 604

Shri Sanjay Gandhi read out the figures of major heads of Income and Expenditures and briefed about the financial
Statements.Mr. Gandhi also replied to all the queries raised by the members.
A er due discussionShriKar k Shah requested to the house for adop on of the accounts. The house was sa sfied
with the above clarifica ons and sugges ons and passed the following Resolu on.

"Resolved that the 19th Annual Report on working of the Society and the Income & Expenditure Accounts for the
year 2020‐2021 along with the Balance sheet of the society as on 31.3.2021 as cer fied by the auditors of the
society, the printed copies of which were circulated to the members of the society along with the no ce of the
19thAnnual General Mee ng are hereby adopted."
Proposed by :Shri Ja n Doshi D‐401
Seconded by :Shri Ajay Vyas E‐304
Resolu on carried unanimously.

Item No. 4: To appoint the Auditor for the Statutory Audit of the society for the financial year 2022‐2023.
Shri Sanjay Gandhi proposed new Auditor as Mr. Jay Shah has completed 3 consecu ve terms as Auditor. M/S
Jayawant Tandel & Co. is here by appointed as auditor of the society.

Proposed by: Shri Nilesh ShahC‐401
Seconded by: Shri Rajendra Puthankar E‐702
Resolu on carried unanimously.

Item No. 5: To ra fy the legal steps ini ated by the Managing Commi ee against some of the defaul ng members
and to review outstanding dues.
Shri Gaurang Shah, Commi ee member presented the details about ac on taken on the members having very high
dues pending. He also informed that a decree was passed against 3 major defaulters. One shop owner has resolved
the pending dues. 2 major defaulters have given commitment that they will resolve in the coming 3‐4 months.

The recovery process will con nue in the mean me.
Resolu on carried unanimously. House appreciated efforts put in by Commi ee members on this ma er.
Proposed by :Shri Ja n Doshi D‐401
Seconded by :Shri Suvajit Samanta C‐503

Item No.6: To approve the budget and empower commi ee for the following ac vi es.

a. Up grada on of Society office.
b. Security Cabins.

23

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Shri Devang Mody, Commi ee member men oned that the following spaces in the society need a en on: Office,
security cabins, wing entrances, staircases, passages.
Resolu on carried unanimously that renova on work will be carried out, star ng with Society office and Security
Cabins.
Proposed by :Shri Alpesh R.ShahH‐203
Seconded by :Shri Ajay Vyas E‐304

Item No.7: Topropose increase in maintenance.
Shri J. B. Nachane, Chairman proposedthis point by explaining expenses incurred on a regular basis. There is
addi onal cost per flat per month for wet waste collec on by agency.
Shri Gaurang Shah, Commi ee member gavede tails about the incomes and explained about the cost increases. He
explained about tax burden, increase in staff salaries, increase in electricity charges, etc.
Mrs. Sarabjit Chadha, Commi ee member further elaborated about the challenges faced by one staff person doing
mul tasking on ground and on the online work items. She also explained the process of wet waste being taken my
collec on agency to the plant for processing of waste into natural fer lizer.
Resolu on carried unanimously by housethat monthly maintenance will be increased by Rs.600/‐ per flat per
month (500/‐ for increase in service charges, 100/‐ for Waste management disposal).
For Shops, the increase in service charges is Rs.500/‐ per month.
Proposed by :Shri Ja n Doshi D‐401
Seconded by :Shri Ajay Vyas E‐304
There was also a sugges on from member Shri Shashikant Sharma G‐402 to recover the society insurance amount
in full from the members as currently society is only recovering part insurance. The sugges on was noted.

Item No.8: To decide on removal of unwanted cables.
Shri Romit Dalal, Commi ee member requested members to remove all old, unwanted cables. It creates a huge
mess in the terraces of the wings.
Item No.9: Other ma ers:‐
The discussion was then opened to members of house by Shri J. B. Nachane, Chairman, and following points were
discussed:
(i) Structural changes: Shri Devang Mody, Commi ee membere laborated that during renova on work, under no

circumstance there can be compromise on structural and fire safety.
(ii) Waste management by Housekeeping:Mrs. SarabjitChadha,Commi ee member requested members to

separate wet and dry waste.This is essen al for proper Wet waste management. She requested members to
spread awareness to others also, about pu ng only bio‐degradable waste in the wet waste bin.

Resolu on carried unanimously.
Proposed by:Shri Ajay Vyas E 304
Seconded by : Shri Sanjay Patel D 704

Shri Kar k Shah, Secretary thanked all the members for their presence and valuable sugges ons.
The house welcomed the proposi ons and the sugges ons were greetedby all, and the decisions were taken
unanimously. As there were no further points to discuss, the mee ng was ended with Vote of thanks to Chair.

…………………………. ……………………
Hon. Secretary Chairman
Mr. Kar k Shah Mr. J. B. Nachane
May 07, 2022

24