01. What is LEADERS Cooperative Housing Society Limited, Visakhapatnam (LCHSLV)?
Answer: It is an initiative of LEADERS, a welfare society for individuals working in various units of DAE. LEADERS Cooperative Housing Society Limited, Visakhapatnam (LCHSLV) is a cooperative society in the making for providing housing solutions for its members. The Society shall be registered under Multi-State Cooperative Societies Act, 2002.
02. What is Multi State Cooperative Societies Act, 2002?
Answer: An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operatives as people’s institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy, was being felt necessary by the various cooperative societies, and federation of various cooperative societies as well as by the Government. In order to achieve the The Multi State Cooperative Societies Bill was introduced in the Parliament. The bill having been passed by both the Houses of Parliament received the assent of the President on 3rd July 2002 and it came to the Statute Book as The Multi State Cooperative Societies Act 2002 (39 of 2002). For more details please visit – https://mscs.dac.gov.in/
03. Who can become member of LCHSLV?
Answer: The following category of individuals can become member of LCHSLV:
1. Staff of Bhabha Atomic Research Centre, Visakhapatnam (BARC-V).
2. Member of LEADERS.
3. LEADERS Association
4. Individuals who are eligible to be a member of LEADERS but are not its member are also eligible to join as Nominal Member (they are not eligible to buy shares and have no right in management, but will get all other facilities/services similar to Ordinary Members)
04. What is LEADERS?
Answer: LEADERS (Leading and Encouraging Atomic Department Employees to a Responsive Society) is a welfare association for individuals working in various Units of DAE throughout the Country. For more details please visit – https://leaders.org.in
05. Who is eligible to become member of LEADERS?
Answer: The following category of individuals are eligible to become member of LEADERS:
1. Staff serving in any unit of DAE is eligible to apply for membership.
2. Ex-Staff of any Unit of DAE is eligible to apply for the membership of the Association.
06. Whether retired employees can become member of this Society?
Answer: Yes, the retired employees can become members of this Society.
07. Whether a member looses his membership when he is transferred from one unit to another?
Answer: No. This is one important reason why it is planned to register under the Multi State Cooperative Societies Act 2002.
08. What is the difference between Credit/Thrift Society and LCHSLV?
Answer: The purpose of Credit/Thrift Society is to help its members manage funds and provide with loans and deposits facilities.
The purpose of housing society is to buy land, construct houses, flats, etc. for the members. The features of Credit/Thrift Society are planned to be incorporated within two years of its registration.
09. What is the minimum number of individuals required for registration?
Answer: MSCS Act 2002 mandates for minimum two States and minimum 50 members from each State. General Body decided to start with Andhra Pradesh and Odisha, so minimum number of applications required are 100. (i.e. minimum 50 from people of Andhra Pradesh and minimum 50 from people of Odisha).
10. What is the plan (like location, etc.) to buy land?
Answer: Society is formed for its members. The location, quantity, price, etc. will be decided by the members based on their interests. Obvious choice is near the establishments of DAE.
11. I am already a member of Credit and Thrift Society in other places, can I still join this Society?
Answer: Yes. LCHSLV is primarily a housing Society. Societies Registration Acts restricts that a person should not join two similar societies.
12. Whether I have to pay estimate deposit amount for land procurement in advance at the time of becoming member of this Society?
Answer: No. The payment details will be announced along with the announcement of procurement and allotment plans for plots, houses, flats, etc.