Compliance Features

There are several Legal and Statutory requirements that societies (complexes) need to comply to based on local and state government laws. Non compliance to these rules may lead to penalties for the society as well as the Managing Committee. The Features of the Compliance module include -

1. Statutory Forms & Registers to be maintained for the society and for members
2. Share Certificate Information for each member along with history
3. Process for adding & changing Nominees done online by members and committee
4. Process for transfer & Sale of unit along with associated paperwork

Compliance Benefits

The Managing Committee may not have the technical and legal expertise to understand the Statutory requirements. However the responsibility for compliance to these requirements is on them, and they will be held accountable for any gaps. The Benefits of the Compliance module include -

1. Reducing mistakes & oversight in compliance to all rules for the management
2. Reduce time & effort of keeping all the Forms & Registers up-to-date
3. Members are aware of their Nominee & Share information and can view status
4. Guidance on Processes to be followed & Documents Required during transfer of unit

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