https://www.taxtmi.com/news?id=58433 The draft code enhances transparency and governance by making management member-oriented, lifting government shareholding caps to promote society formation, permitting marketing and partnerships beyond operational areas, and establishing a regulatory board for credit societies. It mandates timely general assemblies with digital notice, penalises failures (Rs 5,000) and disqualifies absentee board members, requires audit reports to be uploaded to a government portal within 15 days for public access, and enables recovery action after audits or inquiries; misuse of "cooperative" is subject to a fine. en-us Fri, 10 Oct 2025 17:01:03 +0530 Fri, 10 Oct 2025 17:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=58433 The draft code enhances transparency and governance by making management member-oriented, lifting government shareholding caps to promote society formation, permitting marketing and partnerships beyond operational areas, and establishing a regulatory board for credit societies. It mandates timely general assemblies with digital notice, penalises failures (Rs 5,000) and disqualifies absentee board members, requires audit reports to be uploaded to a government portal within 15 days for public access, and enables recovery action after audits or inquiries; misuse of "cooperative" is subject to a fine. News - Fri, 10 Oct 2025 17:01:03 +0530 https://www.taxtmi.com/news?id=58433