1st September2012

MINUTES OF ANNUAL GENERAL BODY MEETING HELD ON 12TH AUGUST2012

The Annual General Body Meeting was called at 10.00 am but was adjourned for want of quorum. The adjourned meeting started at 10.30 am. Mr. Muhammad Ishaq Siddiqui was proposed to chair the meeting by Mr. Mir Anwar and seconded by Mr. Adam Chougle. Following Resolutions were passed during the Annual General Body Meeting. RESOLUTION NO. 1 RESOLVED to approve the Audited Statement of Accounts and Balance -Sheet for the year 2011-2012 as there were no queries or objections. Proposed by Mr. Tajwar Mir Seconded by Mr. Anwar Mir Passed unanimously RESOLUTION NO. 2 RESOLVED to confirm and approve the minutes of last AGM held on 14 th November2011. Proposed by Mr. Masood Mansuri Seconded by Mr. Yaseen Kherani Passed unanimously RESOLUTION NO. 3 RESOLVED to authorize the Managing Committee to appoint a suitable Auditor for the year 2012-2013. Proposed by Mr. Amin Mansurie Seconded by Mr. Ghaffar A. Karim Passed unanimously
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RESOLUTION NO. 4 RESOLVED to allow the Developer to fix Tin Sheets around the compound wall of our Society to check any kind of encroachment but the demolition of buildings will be allowed only after : 1. Final IOD plan is approved by the Society and its Project Management Consultant (PMC). 2. Atleast two designs of Elevation for Tenant Tower is submitted and approved by the Society. 3. Elevation of Sale Tower alongwith total Plot lay-out is submitted and approved by the Society. 4. Bank guarantee is furnished. Proposed by Mr. Sikandar Shaikh Seconded by Mr. Ahmed Jan Passed unanimously RESOLUTION No. 5 RESOLVED to surrender the Electric Meters belonging to the Society, as majority of the members have moved out and society has stopped raising maintenance bill to stayed-back members since July2012 except the shop owners who dont want the rent component but have agreed to be shifted in compound itself, during the demolition and re-construction. Proposed by Mr. Asadullah Khan Seconded by Ms. Zubeida Surti Passed unanimously RESOLUTION NO. 6 RESOLVED to inform that members/occupants who have still not vacated the premises for redevelopment process that according to Development Agreement Society is liable to pay a penalty to the Developer @ Rs. 10,000/= per day from 1st July2012 onwards. The aforesaid penalty will be deducted from the Corpus Fund of these stayed-back members. Proposed by Mrs. Salma Qureshi Seconded by Mrs. Yasmin Hasan Shaikh Passed unanimously
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RESOLUTION NO. 7 RESOLVED to authorize the Managing Committee to re-negotiate and renew the contract of Mr. Ramesh Khanolkar (PMC) for the rest of the period of Redevelopment. Proposed by Mr. Taki Hasan Seconded by Mr. Qayyum Qureshi Passed unanimously. RESOLUTION NO. 8 RESOLVED to pay Rupees Three Lakh to Mr. Keshav and Rupees Two Lakh to Mr. Shakoor as a token of gratitude to both the security personnel of our Society working for last 20-25 years with utmost sincerity, humility and honesty. Proposed by Mr. Muhammad Ishaq Siddiqui Seconded by Mr. Zahid Ali Shaikh Passed unanimously AGM was concluded with thanks to all the members for their co-operation, support and confidence shown towards Managing Committee.

Mr. Muhammad Ishaq Siddiqui (Chairman)

Mr. Zahid Ali Shaikh (Hon. Secretary)