I have below query regarding housing society . Our building is completed in 1997. till April 2013 Builder did not formed the society. In April, we all 12 resident of the building decided together to form the society by contributing the expenses. Till April'13 we were collecting the money based on common understanding towards maintenance and depositing the money in bank account named "Rajshree Terracess,Pune" in Dena bank having 3 to 4 authorized signatory with min. 2 signatures mandatory. Dena bank took the necessary approval from their HQ while opening a/c.The same account is continued with Dena bank with name change to Rajshree Terraces Co. hsg. soc. ltd after submitting members resolution and soc. registration certificate after formation of society in May'13
In April'13 we formed a society through lawyer by submitting all the relevant documents and opening bank account in PDCC Bank Pune as chief promoter. Society formed and we are having periodic meetings and AGM for approving the annual expenses till today. we did not completed Audit report till 31st March 16 due to lack of knowledge.Now we are in process of Audit for last 3 years through registered co-operative housing society.
Now Auditor is saying Dena Bank cannot open the bank account in dena bank before formation of society and We cannot consider Dena bank opening balance as on May'13 and need to do audit for previous years since account is opened or need permission from Sub Registrar , Dist. Co.HSg. soc. to consider this account.
We said , he can put the remarks in his audit report if this is not acceptable as per co. soc. laws. he is not ready and asking us get the audit through other auditor.
Need your guidance on the above issue. Is there anything wrong having the bank account in the name of Rajshree Terraces before formation of society and continuing with new name " Rajshree Terraces. Co. Hsg. Soc. Ltd " when we have opened the account in Poona Distric Central Co.(PDCC) Bank as per procedure?