Explain ideology and working of co-operative societies???plz can I get ans today itself???
The word “co-operative” means “an organisation wherein the stakeholders work with one another”. Thus, a co-operative society is a voluntary association of individuals who work together to protect or promote their common interests. The primary objective of a co-operative organisation is to provide services to its members, while its secondary objective is to earn profit. Thus, it works in the interest of its members and provides goods and services to them.
The registration of a co-operative society is compulsory under the Co-operative Societies Act 1912. Once the registration is complete, the company is granted the status of a separate legal entity. This implies that it can hold properties in its name and enter into contracts. Also, the company can sue others and can be sued by others.
For detailed information on this, follow the given link.
https://www.meritnation.com/ask-answer/question/what-are-cooperative-societies/money-and-credit/8985371
The registration of a co-operative society is compulsory under the Co-operative Societies Act 1912. Once the registration is complete, the company is granted the status of a separate legal entity. This implies that it can hold properties in its name and enter into contracts. Also, the company can sue others and can be sued by others.
For detailed information on this, follow the given link.
https://www.meritnation.com/ask-answer/question/what-are-cooperative-societies/money-and-credit/8985371